<p>I agree. They can buy anything they want as long as they have money.
I also think it’s offensive to criticize how Asian parents raise their kids.</p>
<p>
</p>
<p>This coverage is reminiscent of the anxieties Americans had about “The Japanese taking over” during the '70s and '80s which was underscored by a Japanese conglomerate buying up famous American properties like the Rockefeller Center. Interestingly enough, this anxiety evaporated by the early '90s due to the burst of the Japanese economic bubble and the fact most of those property buyers ended up having to sell such properties at a huge loss. </p>
<p>The Chinese market bubble will burst soon too. History just repeats itself.</p>
<p>I think not. Nearly all the stuff we buy is made in China. </p>
<p>
</p>
<p>Look at the labels again. Increasingly, manufacturing is migrating to even lower cost countries like Cambodia or Vietnam and/or it’s repatriating because of problems w compromised intellectual property or cheaper U.S. domestic manufacturing prices associated with the collapse in U.S. natural gas prices from fracking.</p>
<p>The Chinese gov’t must be thanking its lucky stars for MH370 that it is stealing the spotlight from its domestic economic issues.</p>
<p>
</p>
<p>More than a little insensitive.</p>
<p>@sorghum, I am getting first hand reports from colleagues in beijing what a public circus is going on regarding that flight and how the authorities permit it. Just so u know, my company had an employee aboard. </p>
<p>There are increasing signs of collapse in the Chinese debt market. That will trigger something like what had happened in 2008.</p>
<p>hmmm … at our recent trip to upstate NY for our final accepted student reception, the opening remarks by the college president included mention that they will be joining with China to start an English speaking program in China. I wonder how that might be related, and why it might be starting. </p>
<p>My neighbor in the midwest had 9 kids. They did buy a house in the student ghetto of a major state university in our state and rented it out to students and when the kids started to hit the college years, that’s where they could live. Most of the student population did not live in dorms anyways, so having that place really saved the money and still gave the kids an away from home experience and cut travel time and costs, including having to have a car Nothing Chinese or Asian about them. I believe all but 2 of their kids did take advantage of that situation. and some of them continued to live there for some years thereafter until they married or found other reasons to leave the area. They didn’t sell the place until recently and it’s paid for itself many times over. </p>
<p>I rented an apartment when first married from a couple from Asia, but not China who bought it for their child. Figured the kid would either go to school , prof school or work downtown there, and that the condo was a good buy because those were the years when those prices sunk down low. Gotta say, it was a great deal. We bought one too, and i wish we could have held onto ours as it has skyrocketed in value. But we had to sell while the market was still not up there, though we got our money back, in order to buy our first house. </p>
<p>I heard from two BYU graduates that the Chinese elites have found BYU an attractive school for their children. I am starting to believe that as China piles up our debts, they will use those dollars to educate their children here in US. IMO, get used to this.</p>
<p>
</p>
<p>Not anymore. More and more, high end stuff is coming back to the US, low cost stuff is now often in Mexico (for the proximity to the US) or Vietnam and Bangladesh for cheaper labor. At this point, US manufacturing is growing faster than Chinese manufacturing. Wages have risen too much in China for the really low-cost stuff, gas prices has made the benefits of manufacturing overseas less attractive, and the skill in China for manufacturing hasn’t yet met the US for the high end stuff. China’s kind of stuck in a trap with a less skilled populace than the US or Germany, but more expensive labor than Vietnam and Bangladesh. </p>
<p>China’s economy is rapidly slowing growth. The government is taking higher anti-corruption measures, private lending is failing, many people are looking to get their money out of China right now. If they want to use it here by overpaying for US real estate, who am I to object? I’d personally like to see more efforts to try and get Chinese money to come here. That money may not be there in 10 years, we should snap up as much of it as possible now. </p>
<p>
</p>
<p>Anything we can sell to people willing to pay is good. People seem to get finicky about it when it’s something on US soil, like education or real estate, but no one seems to have a problem when it’s cars. One thing I do think schools who are willing to accept students on merits without a preference for domestic or instate students should do is add a more substantial fee on internationals. The Chinese willing to pay 50K a year for tuition would also likely pay 60K, or 70K, so long as that’s the best school they got into. </p>
<p>I dont think the point of the article had anything to do with Chinese parents buying up US property in general. It was about buying residential RE near desirable colleges with eye to future child’s attendance at same. </p>
<p>
</p>
<p>Yeah, but I’ve read other articles about Chinese buying up cheap property in Detroit and such.</p>