Coronavirus will have a positive impact on the US real estate market
Daniel Hale, the chief economist of Real Estate.com, predicts that Chinese investors will try to save their fortunes by transferring the money to a more secure US real estate market. Thus, while the coronavirus epidemic continues to have a negative impact on the Chinese real estate market, the US is facing a positive movement in the real estate market. Hale confirms that the epicenter of the virus China has seen more than 90% decline in the real estate market, and it may take years to recover.
The same positive outlook for the United States was made by another major player in the country’s real estate market, Eddie Shapiro, the founder of the Nest Seeker International. According Shapiro, there is already a tendency for Chinese buyers to buy real estate in the US. This is especially noticeable in New York, Los Angeles and San Francisco. According to him, at present the US economy is stronger than ever, and it will only benefit from the influx of Chinese investors.