If the Chinese Buying Spree Is Over, Why Does the U.S. Housing Affordability Crisis Persist?

“Growing distrust between the United States and China has slowed the once steady flow of Chinese cash into America,” declares today’s New York Times, “with Chinese investment plummeting by nearly 90 percent since President Trump took office.”

If you live in a major American city, you’ve probably seen a lot of that investment flowing into neighborhoods around your home. So, what’s going to happen to your home value now that all those investors are sitting on the sidelines? In recent research, I tackled this question for the Dialogue of Civilisations Research Institute:

Continue reading “If the Chinese Buying Spree Is Over, Why Does the U.S. Housing Affordability Crisis Persist?”

Quote of the Day: Richard Schiff

I am not an Obama fanatic. I did not favor a surge in Afghanistan; didn’t support the nature of the financials bailouts; wanted universal health coverage; wanted proper prosecution of the thieves of Wall Street, believe the war on drugs must end yesterday.

But here, now, just shy of four years later I can look back and I can have respect for this man. He said he was going to bail out Detroit and he did; he said he was going to pass the stimulus package to stave off loss of jobs and rebuild infrastructure and he did; he said he was going to surge in Afghanistan to facilitate a later winding down of that war and he did; he said he was going to end the inane war in Iraq and he did. He passed Obamacare like he said he would. He reversed the loss of job growth trend like he said he would. He extended unemployment benefits and helped folks keep their homes like he said he would. And on and on it goes.

— Richard Schiff