<p>not surprising here…
Chinese buyers are investing all over SV, especially in areas with top school districts. </p>
<p>How do the parents or their children get U.S. residency by buying a home?</p>
<p>They dont! But many feel/ hope that going to US schools will give their children a better chance of acceptance at colleges here, where as in China, college admissions are brutally competitive and there are far more applicants than spaces available. Here there are 4000 colleges to choose from. Also, the hazardous amount of pollution in many cities in China these days is driving many elites to move out of China for health reasons. </p>
<p>Amazing how much money civil servants in China make… Ya gotta park your graft money somewhere.
<a href=“Princelings - Multimedia Feature - NYTimes.com”>Princelings - Multimedia Feature - NYTimes.com;
<p>The title should be Chinese parents. We have a few of these offspring in my neighborhood, I think kids of mistress instead of wife. A few Porsches in the garage, and I never see the dad. Only the mom and the few kids. </p>
<p>Agree about wrong title. This is only about some Chinese, not other Asians or Asian Americans or immigrants to the US from various countries in Asia.</p>
<p>Some rich Chinese have no clue about the college experience. They also obviously have no clue about what it means to be a resident (hint- to reside in a place). </p>
<p>btw- where is “SV”? Never heard of it. </p>
<p>Silicon Valley</p>
<p>What I got from the article was very wealthy Chinese nationals (not Asian Americans) behave very differently from non wealthy Chinese nationals and non wealthy Americans. Not a newsflash. They may also behave differently from very wealthy Americans. Maybe that’s news?</p>
<p>These people are not even 1%, they’re more like the.01% of the population.</p>
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</p>
<p>They have several ways to become US residents.
Having a house in the US is the first step to make it easier.
There are thousands of lawyers and investors willing to take foreigners’ money so that foreigners can become permanent residents.
House prices in some cities in Asia are much higher than in California.
It’s cheaper to send kids to US public schools than to spend $60,000/year for US boarding schools.</p>
<p>America is sold.</p>
<p><a href=“http://www.ibtimes.com/china-has-priciest-housing-planet-theres-nothing-beijing-can-do-about-it-1333635[/url]”>http://www.ibtimes.com/china-has-priciest-housing-planet-theres-nothing-beijing-can-do-about-it-1333635</a></p>
<p>By simply buying a house, these “real estate” investors will not qualify for applying for a green card. There needs to be a job-producing investment in the US to qualify for investor immigration.</p>
<p>I’ve seen many Chinese couple decide to give birth in the US. This is now very common and affordable. So these babies are US citizens at birth, stay in China until they finish elementary school, and come back for middle/high school. These kids will be treated as domestic applicants. </p>
<p>I think this indicates reasonable people behaving in a sensible way. A lot of people in China (out of 1.3 billion) make some honest money from normal businesses. If you have a few hundred K to spare, buying a property in the US or Australia makes financial sense (security and long term investment). If it is in Boston, Melbourne or New York, surely your kid(s) can find a suitable college option there. If they don’t you are not losing money.</p>
<p>I don’t think it has anything to do with residence (unless maybe there is a plan to send the kids to some part of K-12 in the US) and you want zoned for local public school.</p>
<p>"I don’t think it has anything to do with residence (unless maybe there is a plan to send the kids to some part of K-12 in the US) and you want zoned for local public school. "
well yeah,…
The papers are full of news about wealthy chinese flooding the markets in Calif with all cash offers , especially in the wealthier school districts[ Palo Alto, Cupertino, Saratoga, etc, etc… ]
You dont get the same reports about wealthy Chinese buying properties in Oklahoma!
The international reputation of the UC’s is one reason they come to Calif. </p>
<p>They buy everywhere, not just in California.
They buy both real estates and businesses.
They know how to invest.</p>
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</p>
<p><a href=“http://www.forbes.com/sites/kenrapoza/2013/07/10/chinese-to-spend-billions-on-american-real-estate/[/url]”>http://www.forbes.com/sites/kenrapoza/2013/07/10/chinese-to-spend-billions-on-american-real-estate/</a></p>
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</p>
<p><a href=“http://www.forbes.com/sites/michaelcole/2014/03/16/chinese-investors-discover-chicago-real-estate/[/url]”>http://www.forbes.com/sites/michaelcole/2014/03/16/chinese-investors-discover-chicago-real-estate/</a></p>
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</p>
<p><a href=“http://www.forbes.com/sites/michaelcole/2014/03/10/will-beijingers-buy-brooklyn-apartments-over-the-internet/[/url]”>http://www.forbes.com/sites/michaelcole/2014/03/10/will-beijingers-buy-brooklyn-apartments-over-the-internet/</a></p>
<p><a href=“http://money.cnn.com/2012/07/25/investing/china-investing-us/[/url]”>http://money.cnn.com/2012/07/25/investing/china-investing-us/</a></p>
<p>Why is this even a topic here? </p>
<p>Like many people said above, this is 0.01%. My parents (Chinese) do not plan that far ahead for me. Most of my Chinese friends’ parents don’t either, including boarding friends from China. </p>
<p>Also, Chinese people likely buy more housing in California because they have friends here. There was a Chinese community at least since the Gold Rush. Is this wrong? Europeans took over because of the land. Not too different.</p>
<p>So why exactly is this topic being discussed? Do all Chinese people happen to have a gene that causes us to think ahead? (A great summer research topic for a prospective biologist who doesn’t want to go to college). Let’s stop this racism that is already so pervasive throughout the college application. Some Asians plan ahead. So what? So do some Latinos, some Caucasians, etc. Stop over-generalizing. </p>
<p>We live in SV in one of the most sought after school district. a realtor in the area hires a bus for asians (mainly Chinese) with interpreters and the whole works on a monthy basis to tour the neighborhood. It is not uncommon to see buyers pay upto 500K OVER the asking price to snatch a home here. And here is the best part - many times it is sight un seen. I frankly do not have a problem with it - they have cash & want to diversify into the US & as @wondering says they are flocking to the area because there have family and friends here + they are willing to pay a premium for good school districts. </p>
<p>Cool weather, how can you conclude America is “being sold”? If I own a property and a Chinese national offers me a good price, am I supposed to say no and reserve it for an American? </p>
<p>^ I don’t know how to answer your question. Maybe you can help me find the right term to describe that transaction.
Maybe I watched too much House of Cards.</p>
<p>Well, I find it offensive to suggest it’s somehow unlike other transactions. Or that private property homeowners in the US “shouldn’t” sell to Chinese nationals. </p>