Chinese Cash Floods US Real Estate

[FlyerInHi]

Revival in terms is the number of visitors, and new building.
Vegas is back to peak in terms of total tourist spending. All hotels now charge a mandatory resort fee because they can (there was a pause after the recession).

The lucky dragon is being built and so is Resort world.

Try to find a cheap hotel room on the weekend. You can’t.

Real estate values are still well below nominal peak but one of the best performing markets, trough to current. Lots of new construction because there’s lots of land and that’s good for the economy (high prices with little construction is good for confidence of existing homeowners, but not good for the economy).

As for the china factor, I’m with shoveler. Follow the 99. There a 99 and a Chinese radio station (which I’ve never heard in San Diego).

BTW, you can get an eb5 by investing in a Vegas hotel. Freedom of movement allows you to live anywhere in the Union.

Today I went to another Chinese owned supply company. They had white Quartz for $220 for a 2×9 slab. That’s cheaper than Formica at Home Depot. Lots of nice materials that you see in primo hotels. A designer’s dream at middle-middle class prices.
This company has China prominently in its name. Doesn’t seem to turn off anyone.
http://www.amcnti.com

Macau is another story.

[ltsddd]

The rendering of Resort world looks really nice.

There’s no meaningful new building to speak of in vegas in recent years. The last major thing to go up is probably city center. CC hasn’t been good to the investors. As for the number of visitors – the stock price of the casinos is a good indicator of how much less foot traffic they’ve been getting.

[Myriad]

http://www.wsj.com/articles/chinese-pull-back-from-u-s-property-investments-1448649226

This article says “Chinese Pull Back From U.S. Property Investments. The nation’s economic and stock-market slump puts buyers on the sidelines”

I wonder which paper is more up to date?

[FlyerInHi]

They are both correct. They invested a lot lately and still are. But they are pulling back/slowing

[FlyerInHi]

Itsdd, casinos have not deleveraged yet some stock prices reflect shareholders’ equity.
Foot traffic in Vegas is up. Come on a little trip. It’s packed.

Anyway, Asians like to invest in hotels because for every $500k (or $1 million in non depressed area) there are enough service employees to allocate to each investor. 10 new employ must be apportioned to a minimum of $500k in equity in order to quality for EB5

[spdrun]

Problem with NV is that its one selling point was legal gaming. And now every state is legalizing it.

[Myriad]

http://www.wsj.com/articles/where-rich-chinese-are-stashing-their-cash-americas-hotels-and-strip-malls-1449556200

Another article about investing in hotels

[bearishgurl]

[quote=Myriad]http://www.wsj.com/articles/where-rich-chinese-are-stashing-their-cash-americas-hotels-and-strip-malls-1449556200

Another article about investing in hotels

[/quote]

And the reason the Chinese want/need to get their money out of their country??

This just in, folks:

http://www.aol.com/article/2015/12/08/still-air-traps-smog-in-chinas-capital-triggering-red-alert/21280285/?icid=maing-grid7%7Chtmlws-main-bb%7Cdl28%7Csec1_lnk3%26pLid%3D704081384

Uhh, the Chinese living in major cities (no matter WHAT their income level} … umm … have a less-than-quality lifestyle.

[bearishgurl]

Why do the Chinese have a “less than optimal” lifestyle in their own country?? Uhhh, let’s ponder on this issue for a minute, people. Methinks they’re making things (everything Americans think they need) strictly for $$ with no regard to what its actually doing to their environment.

Uhh, hello out there?

There is a price to pay for being the top manufacturing country in the world and Chinese citizens are paying for it . . . in spades.

[Rich Toscano]

Posted in another thread ( http://piggington.com/october_2015_housing_data_rodeo#comment-262239 )

[quote=zk][quote=Jazzman]Crap, bollocks, rubbish and nonsense. What a load of old cods wallop. You really think Asians prefer CA. You are so full of shit is embarrassing. What an idiot. GO FVCK YOURSELF!!!!![/quote]

[quote=Jazzman]Rich. get me out of here. Please delete my account. Too many assholes. I would do it myself but can’t see how to.[/quote]

That’s kinda funny. Here’s how I read that.

First, he makes a very assholish post.

Then he says,

“There’s too many assholes here. Delete my account.”

It looks like he’s just trying to help out by reducing the number of assholes here by one. “There’s too many assholes here. Get rid of one. Delete my account.” You’re a giver, Jazzman![/quote]

Actually, I read Jazzman’s “crap, bollocks” post as being satirical of flu’s first reply to this post. In Jazzman’s defense I found flu’s reply to be bizarrely angry and abusive considering the actual (completely inoffensive) content of Jazzman’s OP. Clearly, flu read something into the post that I did not — and, from Jazzman’s reply, that Jazzman did not mean.

All that said, Jazzman, I am not going to delete your account. First, all prior content you wrote will no longer have your handle on it, which will make old posts confusing. Second, it makes no sense — if you don’t want to come here, then don’t come here. Why do I have to go the trouble of deleting your account?

More generally, I agree there are too many assholes here, as there are too many assholes everywhere. But for the record, I don’t count either flu or Jazzman among them!

[FlyerInHi]

[quote=spdrun]Problem with NV is that its one selling point was legal gaming. And now every state is legalizing it.[/quote]

True. They are doing their best to diversify to become Phoenix + Gambling + Entertainment + Tech.
We will see.

In the mean time, I do what shoveler said: follow the 99, which really means population growth.

In hindsight, shoveler was right about Riverside and San Bernardino Counties. I wish I had bought there because real estate has really come back nicely from the bottom. But I couldn’t see myself spending much time in Inland Empire.

About Vegas and the American Dream:
http://www.slate.com/blogs/behold/2014/10/17/michael_light_photographs_housing_developments_in_nevada_in_his_book_lake.html

More on Chinese money:
http://vegasinc.com/business/public-record/2014/aug/15/henderson-mountain-mansion-development-ascaya-back/
http://lasvegassun.com/news/2014/may/11/why-china-loves-vegas/

[FlyerInHi]

[quote=Jazzman]
Crap, bollocks, rubbish and nonsense. What a load of old cods wallop. You really think Asians prefer CA. You are so full of shit is embarrassing. What an idiot. GO FVCK YOURSELF!!!!![/quote]

I actually have many Asian friends.

I believe Asians want
1) jobs, tech and commerce. Opportunities to open their own businesses. large economy with import/export, etc…
2) education. near good schools and universities.
3) city life, but not crazy city life. some peace and quiet.
4) new and big.

That’s why Irvine in the best combination, from everyone that I asked. The rich can live in Newport Beach. The rich who want new and big can live in Newport Coast. Upper middle can be in Irvine itself near university high. Or Laguna Niguel for more integrated American experience, etc…
You can live in costa mesa, fountain valley, Anaheim for lower cost. Not too far from LAX. Near the port of LA/long beach. Yorba Linda in between OC and San Grabriel (another large Asian center). I’m telling you, The OC is it.

BG, near the ocean and such is not a priority because they care about influences on their kids. Aside from La Jolla, many beach communities have vagrants, homeless and drugs. They are afraid of bad influences on their kids.

[XBoxBoy]

[quote=FlyerInHi] Aside from La Jolla, many beach communities have vagrants, homeless and drugs. They are afraid of bad influences on their kids.[/quote]

Are you implying that La Jolla does not have vagrants, homeless and drugs??? You ever been to the lot at WindAnSea??? Actually one of the things that constantly surprises me is just how much crime there is in LJ. It’s a lot higher than you would think.

[The-Shoveler]

I am always amazed at how many Beach mansions are mostly sitting empty (trophy’s I guess).

Maybe not so much in SD but in L.A. and Ventura counties the Beach cities are not known to be the best place for kids.

[FlyerInHi]

Look at how the Chinese love America:

I didn’t think that the rustic look would appeal to Asians… But I guess, they have Euro style apartments with already, so they want rustic wood for a change.

I personally would prefer an eco-conscious Dwell house over a western theme. But the Chinese are still behind in thinking.
http://www.phius.org/home-page

[Author]

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