As more constraints are put on cash outflows by the Chinese government, Chinese investors are slowing their spending spree on U.S. real estate.
Lillian Chen and Jacob Gu of Bloombergreport that real estate transactions with Chinese buyers for American real estate has fallen for the first time since 2011. The drop appears to be the result of the Chinese government's intervention to "control capital flight." A report from the National Association of Realtors found that the number of properties purchased by Chinese buyers fell year-over-year from 29,195 to 34,327 units.
While the buying spree from China has slowed somehow, "our report still shows the dominance of Chinese buyers compared with other international buyers, " [Lawrence Yun, chief economist for the Realtors group and lead author of the report] said in the interview. "China is expanding by above 6 percent in its economy. It is not a spectacular growth but still far better than many other countries, and hence they have more millionaires to further support the U.S. property market. "
Chinese ranked first among international buyers, spending three times as much as those from Canada, who came in second place, with $8.9 billion in acquisitions.
FULL STORY: End of an Era as China’s Love Affair With U.S. Real Estate Fades
Survey Says: U.S. Homebuyers, Especially Gen Z, Want Walkable Neighborhoods
Generation Z is leading a new push toward walkable communities, according to a recent survey by the National Association of Realtors.
The Historical Effect of Pandemics on the Economy and the Housing Market
Research into previous pandemics, like SARS in 2003, the Spanish Flu in 1918, and the early months of COVID-19 in China, offers insight into what to expect for the economy and the housing market during and after the current pandemic.
Realtors Group Traces 35 Years of the Real Estate Market
A new study by the National Association of Realtors reveals trends in the real estate market—including a finding on the critical issue of Millennial preferences in housing.
Trump Administration Could Effectively End Housing Voucher Program
Federal officials are eyeing major cuts to the Section 8 program that helps millions of low-income households pay rent.
Planetizen Federal Action Tracker
A weekly monitor of how Trump’s orders and actions are impacting planners and planning in America.
Ken Jennings Launches Transit Web Series
The Jeopardy champ wants you to ride public transit.
Driving Equity and Clean Air: California Invests in Greener School Transportation
California has awarded $500 million to fund 1,000 zero-emission school buses and chargers for educational agencies as part of its effort to reduce pollution, improve student health, and accelerate the transition to clean transportation.
Congress Moves to End Reconnecting Communities and Related Grants
The House Transportation and Infrastructure Committee moved to rescind funding for the Neighborhood Equity and Access program, which funds highway removals, freeway caps, transit projects, pedestrian infrastructure, and more.
From Throughway to Public Space: Taking Back the American Street
How the Covid-19 pandemic taught us new ways to reclaim city streets from cars.
Urban Design for Planners 1: Software Tools
This six-course series explores essential urban design concepts using open source software and equips planners with the tools they need to participate fully in the urban design process.
Planning for Universal Design
Learn the tools for implementing Universal Design in planning regulations.
Heyer Gruel & Associates PA
Ada County Highway District
Institute for Housing and Urban Development Studies (IHS)
City of Grandview
Harvard GSD Executive Education
Toledo-Lucas County Plan Commissions
Salt Lake City
NYU Wagner Graduate School of Public Service