Two doors from my house is a deluxe 3 unit condo building that has been uninhabited for years. Not once have I seen any evidence of anyone living there. The units went for little under $2 million apiece. It makes me wonder what will happen if/when China has a financial crisis and people start trying to liquidate their offshore piggy banks.
Exactly! If this is indeed a major factor, could we see the SF housing market nose-dive if/when the Chinese market does at the same time? Or if/when better investment vehicles become available to them domestically?
