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Chinese buying up California housing
Thousands of potential Chinese buyers are looking at California property, reports CNBC.
Brian Yang, who lives in China and recently bought a property in Irvine, purchased his home for education and property appreciation benefits.
They plan to move to the US when their daughter turns 10, and he's making a 5% return in the meantime renting it out.
US developers, like Lennar and Pulte, are catching on, too, incorporating multi-generational floor plans and feng shui designs that appeal to Chinese buyers.
Quality of life, climate, lack of pollution and political stability are also important factors driving Chinese buyers' purchase decisions.
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