Spot The Outlier – Seattle Home Prices Go Vertical As Laundered Chinese Money Flows In

Jon Real Estate

Last summer we declared that “China’s favorite offshore money laundering hub is officially no longer accepting its money” after the city of Vancouver slapped a 15% tax on foreign real estate buyers. The tax was intended to curb a massive real estate bubble which had resulted from an influx of Chinese money over the preceding years. The move seemingly worked as it resulted in a staggering and immediate 96% drop in foreign buyers (see: Foreign Buying Plummets In Vancouver: Sales To Foreigners Crash 96%).

This post was published at Zero Hedge on Jul 26, 2017.