How many Chinese buyers in north county coastal SD?

[profhoff]

I just read this article and wonder what Pigg’s thoughts are. Are Chinese buyers a significant factor in the coastal market between Leucadia to Del Mar west of the 5?

https://www.ccn.com/coronavirus-threat-set-to-trigger-a-massive-u-s-housing-market-crash/

[The-Shoveler]

IMO any Chinese buyers in north county are likely second generation Americans so unlikely to have much effect here.

Maybe a few select markets in LA (where there are large numbers of Chinese language speakers).

[Coronita]

No. Chinese buyers buy US assets to tuck assets away in case they fall out of grace from the current ruling PRC regime and need a place to go flee. Many of them have US citizenship or PR.

Rich Chinese people in PRC don’t trust the PRC government but play along as long as they can.

Plus Coronavirus isn’t going to be a permanent issue. Vaccine probably in 1 year.

Wrong doom and gloom (D&G) article.

[gzz]

Draw a triangle between Carmel Valley, Soledad Mtn, and Mira Mesa.

I don’t think overseas buyers like the older stock along the coast: smaller, older, harder to value, and more maintenance.

[FlyerInHi]

[quote=flu]

Rich Chinese people in PRC don’t trust the PRC government but play along as long as they can [/quote]

Let’s assume this. What do the free markets tell you? Considering all the opportunities, all the data, all the pros and cons, “as long as they can” means that the returns in China are superior for that period.

And what do they do, if and when they do relocate to the West? Overwhelming, some trade with China, if only in the capacity of connecting people and opportunities. Win-win all around, IMO.

[Author]

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