It looks like you're using an Ad Blocker.
Please white-list or disable AboveTopSecret.com in your ad-blocking tool.
Some features of ATS will be disabled while you continue to use an ad-blocker.
(visit the link for the full news article)
Chinese bargain hunters are preparing to descend on American cities such as Los Angeles and San Francisco, where homeowners have suffered some of the steepest price falls in the US.
SouFun, the biggest real estate website in China, is organising a trip next month to look at properties in California and possibly Nevada. Liu Jian, the company’s chief operating officer, said about 300 people had expressed interest in the idea in the three days since it was advertised, though the company would take only a small group on the first trip
Originally posted by badgerprints
Problem is that foreigners can't own land in China but they are allowed to buy land here.
Originally posted by cluckerspud
reply to post by sylph hugger
Yeah, that just seems a little too convenient.
Shouldn't we be worried?!
I think to the banks and investors in the long run
simply see that a dollar is a dollar is a dollar is a dollar.
And what exactly is a dollar?!
Just one month after receiving $25 billion form the Treasury to stave off disaster, Bank of America spent $7 billion to increase its holdings of China Construction Bank.
In mid October Bank of America was one of the hand-selected institutions to receive the first phase of the $700 billion bailout package. As one of the world’s largest banks, Bank of America was deemed suitable for a cash infusion by the Treasury Department in order to shore up its assets and get the bank to open up its channels for lending. Bank of America is apparently lending, but it is lending overseas rather than to beleaguered home and business owners in the United States who desperately need a hand.