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US Homes Attractive to Foreign Buyers 美国房屋吸引外国买家
LOS ANGELES — The wealthy around the world are always looking for ways to invest their money, and for some people that means buying homes in the United States. While foreign buyers make up just more than six percent of overall home sales in the United States, certain cities are disproportionately affected1 by foreign buyers, and that includes neighborhoods in southern California.
Skeptics may call the belief in feng shui a superstition2, but many Chinese consider it an art, and essential for good luck and health in a home. When Chinese native Cathay Wicks searched for a home in the United States, she looked for feng shui elements.
She said she looks for a home that has a lot of light. She said it does not have to be big, but it needs to feel bright.
Wicks is a part of a growing number of people from overseas who are interested in buying homes in major U.S. cities.
Hot pockets
Jed Kolko is chief economist3 for the real estate site Trulia.com. “There are some parts of the United States that see very strong foreign demand and that helps keep prices high in lots of areas. The places where we see this impact the most is in parts of Los Angeles, Miami and New York,” he said.
The number of buyers from China has been increasing, according to Los Angeles-based real estate expert Angela Wong. In the past year, her clients from China have increased by 30 percent.
She said the first reason her clients buy homes in the United States is so their children can attend school here. The second reason: to immigrate4 here just like Cathay Wicks, who bought a home in a Los Angeles suburb.
Wicks said the weather in Los Angeles is good, and it also is convenient because there are more Chinese here so it does not feel like a foreign country.
Chinese buyers
More than half of the buyers from China come to California.
In Irvine, California, a new housing development is attracting the attention of potential Chinese buyers with feng shui elements inside the homes and throughout the neighborhood. Developer Emile Haddad came up with the idea. “So we have done feng shui on everything we have. We also have a consultant5 who looked even at street names when we named the streets. We want to make sure the names of the streets are appropriate in terms of either superstition or in terms of simple pronunciation,” said Haddad.
It is not just people from China, however, who are buying homes in the United States. People from nearly 70 countries are investing their money in U.S. homes. Realtor Shannon Miller6 said most foreign buyers pay cash, making housing markets such as Los Angeles extremely competitive for domestic buyers who do not have the cash.
“Most of the buyers are trying to buy their homes the traditional way through a loan, and the cash buyers are coming in and they are beating them out. They appeared when the market was full of foreclosure properties. Now their interest is in everything,” said Miller.
One of the neighborhoods that interests foreign buyers is affluent7 Beverly Hills, where Stan Smith works as a broker8. “We have seen different countries go through different economic cycles, and as they prosper9 they come here. They want to buy a trophy10 property. They want to put their money in a safe place.”
Another reason for buying a home in the United States: the EB-5 visa. It requires a foreigner to not only invest a certain amount of money in commercial enterprises here, but also have a U.S. home. Economists11 expect home prices to keep rising, so to make a profit they do not expect foreign investors12 to sell their homes anytime soon.
1 affected | |
adj.不自然的,假装的 | |
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2 superstition | |
n.迷信,迷信行为 | |
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3 economist | |
n.经济学家,经济专家,节俭的人 | |
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4 immigrate | |
v.(从外国)移来,移居入境 | |
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5 consultant | |
n.顾问;会诊医师,专科医生 | |
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6 miller | |
n.磨坊主 | |
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7 affluent | |
adj.富裕的,富有的,丰富的,富饶的 | |
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8 broker | |
n.中间人,经纪人;v.作为中间人来安排 | |
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9 prosper | |
v.成功,兴隆,昌盛;使成功,使昌隆,繁荣 | |
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10 trophy | |
n.优胜旗,奖品,奖杯,战胜品,纪念品 | |
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11 economists | |
n.经济学家,经济专家( economist的名词复数 ) | |
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12 investors | |
n.投资者,出资者( investor的名词复数 ) | |
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