Wednesday, January 14, 2015

Bullish?

Beijing goes hunting for overseas real estate bought with dirty money

China’s corrupt officials and crooked businessmen have smuggled billions of dollars overseas, much of which has ended up in real estate in the United States, Canada, Australia and the United Kingdom. Now the Chinese government is embarking on a worldwide hunt to seize the properties with help from foreign governments, according to asset recovery and anti-corruption specialists. Who's gonna pick up the Chinese hot money slack now?

Posted by debtserf @ 04:53 PM (2245 views)
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2 thoughts on “Bullish?

  • Can’t see the NASTI party helping the Chinese if affects the price of their BTL portfolio’s.

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  • Once the money has been safely laundered, there will be a lot of dumping; and I don’t suppose the ”corrupt officials” will be too bothered about a 10% or 15% loss on the original purchase price either.

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