Dear MEL School’s Topic Readers,
China's wealth
finds home in Washington state
Isn’t mainland large
enough for rich Chinese? While anti-corruption campaign is looking into people in
mainland China, Chinese money is flooding into West coast in the US. They’ve
been known for big real estate buyers for years creating China towns all over
the places. Business money has been invested in prominent properties like Waldorf
Astoria in New York so has been the private money in West coast for residential
homes especially in the state of California and Washington where they can reach
non-stop from major cities in China. The average purchase price is
approximately a half million dollars, nearly twice as much as the state average
in Washington.
Why are they
buying houses in America? Some of them buy a house for their children to study
there. It sounds like a bold and sound investment in education and real estate,
doesn’t it?
Enjoy reading and
learning about where and how wealthy Chinese are investing their money.
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