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Chinese house builder betting on Bay Area housing bubble


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2014 Sep 5, 2:43am   2,375 views  6 comments

by tovarichpeter   ➕follow (7)   💰tip   ignore  

http://www.contracostatimes.com/business/ci_26469462/bay-area-part-chinese-builders-1-billion-entry?source=most_viewed

A major Chinese home builder is making a $1-billion bet on the U.S. housing market. Landsea Group is launching three housing developments -- in Dublin in the East Bay, in Simi Valley , and in Weehawken, N.J., across the Hudson River from Manhattan -- with plans to invest $1 billion in U.S. home building over the next few years. The launch, which Landsea celebrated Thursday at the Millennium Biltmore Hotel in downtown Los Angeles, represents one of the first forays by a big Chinese builder into the U.S. single-family home market. "We have already established our presence in Asia and...

#housing

Comments 1 - 6 of 6        Search these comments

1   Peter P   2014 Sep 5, 3:15am  

They are good at building ghost cities.

2   exfatguy   2014 Sep 5, 4:11am  

In America, you can't build enough homes. Every time a new home goes up for sale, ten buyers with millions of dollars in cash magically appear out of the ether.

3   bubblesitter   2014 Sep 5, 5:46am  

Just make sure to bring Chinese buyers along as well.

4   rufita11   2014 Sep 5, 9:55am  

Will they be using Chinese drywall? http://en.wikipedia.org/wiki/Chinese_drywall

5   bubblesitter   2014 Sep 6, 1:29pm  

Makes sense. For our every single need we go to China to get it cheap, why not houses? Is he going to use cheap Chinese labor to build these houses?

6   FortWayne   2014 Sep 7, 2:21pm  

Those assholes from overseas have way too much spare money. Kind of ironic that it's our spending on stupid shit made in China fueling them coming over here buying our land pricing American families out.

I think government should do something about this!

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