Exactly. This is not a good thing. It shows an inequality in wealth.
The US is currently has the problem where the few have all the wealth in the country. I believe it is said that 90% of the US wealth belongs to the top 1% in the country. Many people in China make extremely low wages but there are a few keeping all the wealth. This is not a good thing for either the US or China. Also if you have wealth, you have power. Thus the wealthy end up making all major decisions for the country. About to be a lot of corruption in favor of the rich.
China is the oldest continuous civilization. They've been around for over 5,000 years already. They had a much longer time than most other recent societies to become populous.
These Rich Chinese billionaires are buying like crazy in NYC
Definitely the scariest part. People say a lot of millionaire/billionaire owned condos are just filled with money instead of real people I believe it too.
Like you guys don't know they will come over to your home town and then boost the land price because they always make money by speculation in property market. At the end of the day, your offspring will not even able to buy a house and land or big house and land coz you would not be as rich as them. Just looking at the district that Chinese live, the land price only increase, no coming back... Rich Chinese loves making money by stealing other people's basic needs, they are terrible ~
So, I have to warn you, make sure the buyers are not Chinese if you are deciding to sell your house or apartment~
I believe it too.