In a testament to Chinese oligarchs, criminals, money launderers and pretty much anyone who is desperate to park their cash as far away from the mainland as possible, purchases of US real estate by foreign buyers surged to an all-time high in 2016, according to data from the National Association of Realtors via CNBC.
Just when you think you've seen it all, the snowflake capital of the world finds new, creative and amazing ways to shock your system. In it's latest attempt to do just that, three California counties, two in the Bay Area and one in Southern California, have filed a lawsuit against 37 of the world’s biggest oil and coal companies alleging they're ultimately responsible for the public's usage of fossil fuels and the greenhouse gas emissions they create which will ultimately contribute to rising sea levels and lay waste to their cities...at least that seems to be the
New York City real estate, particularly the luxury market, is a popular refugee for world’s corrupt, self-dealing public servants and the crooked businessmen who bribe them. China cracked down on wealthy citizens seeking to stash their wealth in international real estate by adding several deterrents to its capital controls earlier this year (Among them, Chinese investors moving money out of the country must now sign a pledge saying it won’t be used to buy real estate, or investment securities).
If there is one thing Vancouver has a lot of, it's expensive houses.
As we showed earlier in early June, the world's biggest housing bubble defied impossible odds, and less than a year after the British Columbia government imposed a 15% property tax on foreign buyers, soon after an initial dip, home prices rebounded right back to all time highs, rising 5% to a record C$1.8 million in May, while the number of properties sold was the third-highest ever for that month.
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