Oligarchs, Billionaires, Money, Money, Money

The Chinese super-rich are about to flood the US real-estate market

 

businessinsider.com – Lucinda Shen

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After yet another drop in the Shanghai stock market and Hang Seng index on August 6, Daniel Chang heard his cell phone ping.

The real-estate agent was on a business trip in Shanghai, and he was mid-bite during a dinner when he saw his phone light up from a message on his app, WeChat.

It was a Chinese client concerned over a $6 million property she was about to buy in New York City. She was visiting New York at the time.

“I don’t know if I can do this,” she told him over voicemail. “I might have to back out.”

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