Message from mhagiwara

[Anonymous]

If so many Chinese investors are coming into areas like Southern California and purchasing homes in cash, driving prices up, and creating issues for homebuyers here in California, is there anything that they state/city governments can do to curb this trend? I understand that "money talks" but it seems so unfair for homebuyers here. It feels as if areas like Arcadia, San Marino, and South Pasadena are being inundated by Chinese investors who are buying in bulk and driving first time homebuyers further out of the city and serving as an obstacle for growth.

http://www.nytimes.com/2015/11/29/business/international/chinese-cash-floods-us-real-estate-market.html?_r=0
edited by mhagiwara on 7/26/2016