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>> UNITED STATES OF AMERICA Latest News

JAN 22, 2013 - Zero Hedge

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Chinese Politicians Are Buying Billions In U.S. Real Estate

Back in September, we explained that when it comes to "boom" in US real estate, there are three key driving forces: i) the Fed's monetization of mortgage backed securities whose impact however is at best to stabilize the demand floor (and judging by the recent collapse in refi activity even that is questionable), ii) an implicit subsidy as banks keep millions of units on their books (to get a sense of how much check out at the chart in "Six Month + Delinquent Mortgages Amount To More Than Half Of Bank of America's Market Cap") in some phase of the foreclosure process, and away from clearing ... Read More

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