Chinese buyers in Southern California housing market downturn

Xinhua Beijing, March 20, according to the U.S. "star Island daily" reported that the United States, Walnut City (Walnut) Chinese city Councillor Sue Wang Shoran 18th, held a "2010 Real estate and economic trends" press conference, invited a number of experts to analyze the eastern and Walnut City real estate status and vision.　　Experts said that even if the average residential housing prices are not affected, but the commercial real estate market is tight, expect the United States to continue to highly cooperate, let the Chinese market funds into the U.S. market, to save the sluggish commercial housing. Larry M. Black, the finance company, said that although the South plus real estate market was affected by the financial turmoil, the walnut market, Diamond Bar (Diamond bar) housing relatively small impact, 2010 outlook remains bullish, but "short sales" (sales)　　The market will face more challenges and adjustments as the Government anticipates the implementation of the new policy in April.　　Sue Wang Shoran said that in the past two years the San-gu area of real estate has almost bottomed out, but Hu house prices because of environmental superiority, the school district Jia did not fall, especially the school district outstanding, let house prices almost flat. "Good school districts are the key to house prices," Huyhuichin, director of the International Commercial Real Estate Association, the big Los Angeles Division president, the Walnut city housing prices have not fallen, the main reason is that compared with the United States similar ethnic diversity (top 5%), average household income (top 9%), low crime rate (top 11%), university graduates more than (17%), The middle class is wide (top 18%) and the city's house prices are still good for the next 10 years. General home prices are less affected by the boom, but Huyhuichin that commercial real estate "very tense."　　He said that the average commercial house prices fell about 40% to 60%, such as the original market value of 10 million of the commercial property, the mortgage to the bank may only be 5 million, and investors can negotiate with the bank to buy "loan IOU (Special note)" should be available in cash to deal with 3 million yuan. The Government's new policy of "extending commercial property law time" last year is about to expire, and experts say the government will announce a "further extension" and that future policies are expected to see more profits.　　Huyhuichin said that, affected by the policy, some banks tend to block the message, illegal racket "non-performing loan collateral (trouble loan)", but sold to other banks, so many commercial property debtors will find that "creditor (bank)" changed. Li Deilang, a commercial real estate expert, for example, Chino Hills, a commercial centre owner who owed a lot of money to a loan bank, did not forcibly retract the FA. Senior Real estate agent Huangtailong bluntly, Chinese "saved the housing market." He said that the South plus new residential construction has almost stopped, the current successful transaction buyers are mostly Chinese, such as the Rhone (Corona) residential areas and the South Plus hotel industry, more Chinese world. (Chen Mi)