Now that the Chinese are coming in from mexico....

Anyone remember when Chinese investors were buying up Detroit? Nobody knew the plan then...but maybe it's starting to come a little more clear.

They aren't telling you where these people are being bussed into, but I guarantee people didn't flee their country to come be homeless.

***Snipped***
Moreover, Chinese purchasers are making bulk purchases of inexpensive properties -- those selling for $25,000 or less -- in the rings surrounding the city center. "They're banking on the downtown resurgence spiraling out into those rings," explains Kelly Sweeney of Coldwell Banker Weir Manuel. Mainland parties often buy at tax and foreclosure sales, hold their property and patiently wait for appreciation.

The Chinese certainly have made an impact on the locals in Detroit. "I have people calling and saying, "I'm serious -- I wanna buy 100, 200 properties,'" said Caroline Chen, a real estate broker in nearby Troy, Michigan, to Quartz.com. "They say 'We don't need to see them. Just pick the good ones.'" Chen reports that one of her colleagues sold 30 properties to a Chinese investor.

[link to money.msn.com]

Last Edited by GhostProphet on 07/08/2014 02:02 AM