According to the National Association of Realtors, Chinese buyers are now expanding to new, lower price tiers in the U.S. While cash purchases are still seen, many middle-class Chinese buyers are shifting to mortgages.
Diana Olick | CNBC
Chinese consumers may have soured on some American products, like iPhones, but they have only sweetened on U.S. residential real estate.
They have been the top foreign buyers in both units and dollar volume of residential housing for six years straight, according to the National Association of Realtors, and now they expanding to new, lower price tiers.
[…] Olson said the biggest difference this year is price point. Initially, it was wealthy Chinese buyers purchasing million-dollar properties, all in cash. Now more middle-class Chinese buyers are searching for lower-priced homes and they are using mortgages much more often.
To read the full article, click here: Chinese buyers expand their reach in the US housing market as the middle class gets in on the act