Chinese buyers investing in Michigan’s home market
Homes in coastal states have typically attracted the most overseas buyers, but Michigan's economic rebound is garnering global attention. Could foreign investment put even more of a kick into Michigan home prices? Excerpt: "More than half of the $22 billion Chinese buyers spent on U.S. homes during the 12 months ended in March was spent in California, Washington and New York, according to the National Association of Realtors… But perhaps the most unexpected destination for Chinese real estate money to land in is Michigan. Chinese buyers are keeping an eye on the revival of the auto industry and buying homes in manufacturing cities like Detroit, Saginaw and Flint, said Taylor. They're also purchasing homes in Ann Arbor and other college towns for their kids." More here.
Homes in coastal states have typically attracted the most overseas buyers, but Michigan’s economic rebound is garnering global attention. Could foreign investment put even more of a kick into Michigan home prices?
Excerpt:
“More than half of the $22 billion Chinese buyers spent on U.S. homes during the 12 months ended in March was spent in California, Washington and New York, according to the National Association of Realtors…
But perhaps the most unexpected destination for Chinese real estate money to land in is Michigan.
Chinese buyers are keeping an eye on the revival of the auto industry and buying homes in manufacturing cities like Detroit, Saginaw and Flint, said Taylor. They’re also purchasing homes in Ann Arbor and other college towns for their kids.”
More here.
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