Chinese Cash Floods US Real Estate

[mrkenneth]

I am one of those pesky Canadians competing to buy an affordable property here. All because American landlords are so greedy! Back in Vancouver, landlords run charities and rent out properties below cost.

[FlyerInHi]

[quote=mrkenneth]I am one of those pesky Canadians competing to buy an affordable property here. All because American landlords are so greedy! Back in Vancouver, landlords run charities and rent out properties below cost.[/quote]

Are you buying a second home or as a full time resident?

My Canadian friends say that Canadians are better at saving money… Do you think it’s true?

[poorgradstudent]

[quote=The-Shoveler]I am always amazed at how many Beach mansions are mostly sitting empty (trophy’s I guess)[/quote]

Well, as a specific high profile example, I’m not sure how much time the Romney’s actually spend at their La Jolla mansion.

[poorgradstudent]

[quote=FlyerInHi][quote=mrkenneth]I am one of those pesky Canadians competing to buy an affordable property here. All because American landlords are so greedy! Back in Vancouver, landlords run charities and rent out properties below cost.[/quote]

Are you buying a second home or as a full time resident?

My Canadian friends say that Canadians are better at saving money… Do you think it’s true?[/quote]

I think *on the whole* Canadians are more like Midwesterners… they don’t care as much about flash, style and status symbols as California and the East Coast do.

That said, Toronto itself reminds me a lot of New York City.

[Essbee]

My dad was walking on Windansea beach a few months back (maybe August) and actually saw Mitt on the beach, talking to someone who appeared to be some sort of contractor. I also have friends who have spotted him at other locations, so I think he may be here a fair amount.

Also, two of Romney sons and several grandkids live in 4S Ranch (Ivy Gate, to be specific). Several of his grandchildren attend Stone Ranch Elementary. Mitt was spotted walking in and dropping off some of the grandkids at school last February. (It may have been the day when their mom had a baby, or soon thereafter).

[XBoxBoy]

I don’t really know but I suspect the Romney’s are not around much since construction is still going on at their house. Maybe they stay somewhere else though.

[FlyerInHi]

Did the Romneys buy at Ivy Gate at the peak?

[FlyerInHi]

I was at the Chinese home material company again today to offer some white Quartz. 2×9 slab for $220. Unbeatable price.

I was making small talk with the young lady manager. She went on “I don’t want to say it but American fashion is at least 5 years behind China. See this porcelain tile there, we’ve had it for at least 10 years. We import it here and Americans go Oh my god, it’s so beautiful, we’ve never seen it before”.

Sleek Eurostyle kitchens are only becoming mainstream in USA.

Chinese merchants work hard. It’s no wonder they are plenty to low level millionaires (and above) who can pay cash for real estate.

[Essbee]

I don’t know for a fact, but I think yes. The elementary school has these “commemorative hand tiles” that kids decorate each year as a fundraiser, and I’ve seen one that says “C____ Romney 2008.” She is one of the older granddaughters, so thank makes me think that they have been there since at least 2008. I think that was around the time Ivy Gate was built, too.

Interestingly, I am also told that one of Ann Romney’s nieces/nephews and family also live in that neighborhood.

FWIW, I think Ivy Gate may already be back to pre-recession values, or at least nearly there.

[njtosd]

[quote=FlyerInHi]I was at the Chinese home material company again today to offer some white Quartz. 2×9 slab for $220. Unbeatable price.

I was making small talk with the young lady manager. She went on “I don’t want to say it but American fashion is at least 5 years behind China. See this porcelain tile there, we’ve had it for at least 10 years. We import it here and Americans go Oh my god, it’s so beautiful, we’ve never seen it before”.

Sleek Eurostyle kitchens are only becoming mainstream in USA.

Chinese merchants work hard. It’s no wonder they are plenty to low level millionaires (and above) who can pay cash for real estate.[/quote]

Huh. We put porcelain tile in our family room (in San Diego) in 1998. No one acted like it was very new. People get a little mixed up. New vs. new to you.

[FlyerInHi]

I meant the larger porcelain tiles that have sharp edges, not rounded of beveled, that requires more careful install for a very smooth surface with very small non-sanded grout lines.

But you’re right, few things are new, especially if one has enough money. I’m just marveling at entrepreneurs who make things commodities, affordable, and mainstream. For tiles, that would be under $3/sf, not more than $5 for sure.

[mrkenneth]

[quote=FlyerInHi][quote=mrkenneth]I am one of those pesky Canadians competing to buy an affordable property here. All because American landlords are so greedy! Back in Vancouver, landlords run charities and rent out properties below cost.[/quote]

Are you buying a second home or as a full time resident?

My Canadian friends say that Canadians are better at saving money… Do you think it’s true?[/quote]

First home ever. No way I could afford to buy a shack in Vancouver.

Saving money makes much more sense when savings accounts have higher interest rates than mortgages! Actually, my parents borrow to save. 🙂

Does the Chinese quartz supplier have a showroom or warehouse in San Diego?

[mrkenneth]

[quote=poorgradstudent][quote=FlyerInHi][quote=mrkenneth]I am one of those pesky Canadians competing to buy an affordable property here. All because American landlords are so greedy! Back in Vancouver, landlords run charities and rent out properties below cost.[/quote]

Are you buying a second home or as a full time resident?

My Canadian friends say that Canadians are better at saving money… Do you think it’s true?[/quote]

I think *on the whole* Canadians are more like Midwesterners… they don’t care as much about flash, style and status symbols as California and the East Coast do.

That said, Toronto itself reminds me a lot of New York City.[/quote]

Vancouver is all about flash. Supercars are a much common sight than here.

[FlyerInHi]

[quote=mrkenneth]

Does the Chinese quartz supplier have a showroom or warehouse in San Diego?[/quote]

I bought at q place called AM China Nevada. I don’t think they have a showroom in San Diego. White Quartz at $220 for 2×9 slab is a steal. Normally in the $400s, or high $300s for sure.

Builder elements an affiliated network I believe and they have showrooms in San Diego. I bought from MIC unlimited in San Diego before, but they are not Chinese owned. Granite not Quartz

Quartz is more fashionable these days and easier maintenance. Granite with all the veining (sometimes way too much and a desired feature some years ago) looks busy and dated.
I can recommended a granite guy if you are hands on. Don’t expect him to design the kitchen for you. But he can install based on your own design.

[mrkenneth]

Thank you for the information! I still have not found a home yet but I will take your recommendation regardless. 🙂 I like quartz better as well and plan to do most of the work myself.

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