Wednesday, February 18, 2009

Real Estate Odds and Ends

I know nothing about this, but would love to know more. Minyanville has a story that mentions folks from China of all places coming to the US to buy foreclosed homes.

More than 100 buyers from China's ever-growing upper- and middle-class have gone on these tours in the last few months, according to Chen Hang, the China-born vice president of real estate at Fortune Group. The Pittsburgh-based company shows foreclosed property to Chinese buyers.

A Pittsburgh firm showing foreclosed properties to Chinese buyers?? Does that mean Pittsburgh properties? I assume it's for properties elsewhere, but anyone who sees buses full of Chinese tourists driving slowly through Homewood or some other local neighborhood, let me know. Not very long ago Chinese land ownership would have been either an oxymoron or just plain illegal for them. No matter where this is happening, that socialism thing in China must really be over.

From NE Ohio, but an optimistic view of recent trends in real estate in some radio coverage of Howard Hanna's annual meeting in Ohio.


Anonymous Anonymous said...

You've probably seen this already. A story and map about a plan for a nationwide high speed rail system, floated by Ohio's Boehner (sp.) apparently.

Funny that there's no link between Pittsburgh and Cleveland, or Buffalo and Cleveland for that matter. On the other hand, the map defines us as East Coast rather than Midwest, which suits me just fine.

Wednesday, February 18, 2009 4:36:00 PM  

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