Hacker News Reader

A different market, but I think the Chinese Money thing is a bit overblown.

The San Francisco and San Jose metro areas ranked ninth and sixth from the bottom, with all-cash deals representing only 28 and 24 percent of purchases, respectively. All-cash sales in San Francisco peaked at 36 percent in the first quarter of 2010, Zillow said.

http://www.sfchronicle.com/business/networth/article/All-cas...

View on HN

My father sold his west Texas home in cash to Chinese nationals. West Texas. And the process took 24 hours.

I doubt it's overblown.

Could have fooled me. I get 3-4 letters a month from realtors wanting to buy my condo for a Chinese investor.

I think the person you are responding to was referencing my city/town as "not the market" more than anything, though I could be wrong. Seattle has many stories of cash markets from foreign investment too, but not many venture as far south of Seattle as Tacoma. That might be changing, but my house isn't in a desirable neighborhood either.

Reply on news.ycombinator.com