Burn That Belly said:felixcat said:Burn That Belly said:Whether or not gates prevent crimes is irrelevant. The point is that it adds good resale factor and value to the incoming FCB who knows very little about the local crime of the neighborhood. It gives a perceived perception that having it is truly better than not having it and for that reason the real estate market and the FCB-resale market perceives it as a valuable feature and so the price goes up. Bottom line, you are buying the gated community for resale value more than safety.
BTW, foreign cash is not a sustainable business model - mainly depends on Chinese government FX regulations, for now it is much harder to convert RMB to USD, so fewer FCB recently.
I do see except for the view lots, Reserve OH does not sell very well, plenty of units are still available in already released phases.
Wrong. There are plenty of ways to get RMB out of China. Do your research. Go visit San Gabriel Valley. Plenty of lawyers helping folks get money out. One of the most common way is through Hong Kong. There is also youtube video explaining how this is done:https://www.youtube.com/watch?v=fd__t5FeV74
A realtor I spoke to in Irvine, I had asked if she saw trouble. She smiled and said "There are ways to get the money out.". It didn't even bother her. She knows of all the dirty tricks Mainland FCBs play.
Mainland FCB will go far to get their money out one way of another if it means a better life for their kids. That commission fee is a price worth paying to these people.
It never fails to amaze me how the Chinese government has mantained its foreign reserves (there is some decline) and maintained its currency , despite all this capital flight .
Something doesn?t add up .. but they seeem to be on top of the situation .
Hedge funds like Bass brothers got smoked shorting the yuan