1 Out Of 10 Foreign U.S. Home Buyers From China

With the U.S. Economy on the skids and the housing market going nowhere fast, it seems there might be a savior for American home owners who are desperate to sell. In many markets, home prices have declined significantly, and low prices would indicate there’s a buying opportunity for bargain hunters. Leave it to the Chinese to pick up on that fact and step in to buy up the bargains in both the luxury and investment property markets. According to a a survey by the National Association of Realtors, Chinese buyers accounted for 9 per cent of foreign home purchases in the years ending March 2010 and March 2011. That’s a big increase from just 5 per cent in 2009. It just leaves me wondering when Americans will realize there’s bargains to be had in the housing market too.