Those Dang Canadians!

[Irvinecommuter]

http://www.npr.org/blogs/money/2014...international-homebuyers-in-the-u-s-come-from

 

[irvinehomeshopper]

Most of the Canadians are Chinese with Canadian citizenship. Money is laundered through relatives in Canada for home purchasers in the US.

 

[valueoc]

A fascinating piece of data, thank you for posting this! The relationship with China (both its government and its individual citizens) with the United States and the 'rest of the west' is a powerful emerging global drama, especially by way of Canada, eh?

 

[usctrojancpa]

So now the Chinadians are buying up all of the Irvine homes with cash???

 

[zubs]

I wonder how Canadians or Chinese are getting mortgages when they have no income in the USA.  No income loan?

 

[paperboyNC]

Most of the Canadians are Chinese with Canadian citizenship. Money is laundered through relatives in Canada for home purchasers in the US.

An Irvine home just closed with a sale to a Canadian. All Cash. Not Chinese. (Not Caucasian or Asian either)

 

[usctrojancpa]

I wonder how Canadians or Chinese are getting mortgages when they have no income in the USA.  No income loan?

They aren't they are buying it with cash...."straight cash homie" as a former NFL receiver put it.  haha

 

[paperboyNC]

I wonder how Canadians or Chinese are getting mortgages when they have no income in the USA.  No income loan?

There are foreign citizens that have work permits or greencards that have incomes in the US.