JinList™, “a professional online platform dedicated to connecting affluent Chinese buyers with real estate professionals”, tells me that “according to an October release of Credit Suisse Global Wealth Report 2015, China’s middle class population reached 109 million, with a combined total family wealth of US$22.8 trillion.” Why is this important to Silicon Valley real estate? “The report estimates 79.5% of Chinese middle class have their assets in real estate”, says JinList™, “while only 10.8% have wealth in financial assets”.
“Silicon Valley is a very special market. There are no metrics to compare. It has so much potential”, says Dr. Lawrence Yun, chief economist of the National Association of REALTORS.
First-time buyers, ever wondered what happened to all the inventory? Maybe you should be wondering what happened to all the move-up buyers.
Renters, feel like you’re paying too much rent? Sure you do! And you probably are!
Someone should do something about it!
“Home sales in the nine-county Bay Area turned in their best September last month since 2009, with suburban counties enjoying the strongest gains, according to a recent report by CoreLogic, the real estate information services company.”
Wouldn’t it be great to know which Silicon Valley cities and neighborhoods have appreciated the most in the last twenty-plus years? Better yet, wouldn’t it be great to know which types of Valley cities and neighborhoods have appreciated the most over that period?
Buyers, have you left the market because you can’t wrap your mind around today’s prices? Are you still circling the market, still looking at new listings on Redfin, still going to open houses every week-end, just not willing to pull the trigger?
“The amount of money Chinese buyers are pouring into U.S. real estate has been on the rise for a number of years, but recent instability in China’s economy and stock market has driven even more buyers to the U.S. In addition, education, health care and expectations of greater price appreciation are all enticing to Chinese buyers, analysts say.”