Are the Chinese withdrawing from the US commercial real estate market. If so, that’s not bullish for real estate prices. From Wolf Richter at wolfstreet.com:
THE LAST BIG ENTHUSIASTIC BUYER, CHINA, IS LEAVING THE PARTY.
Commercial real estate, such as office and apartment towers, in trophy cities in the US and Europe has been among the favorite items on the long and eclectic shopping lists of Chinese companies. At the forefront are the vast, immensely indebted, opaquely structured conglomerates HNA, Dalian Wanda, Anbang Insurance, and Fosun International. In terms of commercial real estate, the party kicked off seriously in 2013. Over the two years in the US alone, according to Morgan Stanley, cited by Bloomberg, Chinese firms have acquired $17 billion worth of commercial properties.
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