Silicon Valley Housing Market Hit as Chinese Money “Dried Up”

by Wolf Richter
Wolf Street

“It doesn’t mean the market is going to crash tomorrow.”

Money from Chinese investors “has dried up,” a residential real-estate broker in San Francisco told me a few days ago, as he was fretting about the local housing market. It’s a result of the crackdown by the Chinese government on capital flight, he said.

Chinese investors have been buying about 5% to 7% of residential properties in San Francisco, possibly more in parts of Silicon Valley. And other brokers are now publicly chiming in about money from China drying up.

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