Spike in Russain househunters in wealthy neighbourhoods in the US tonight

[applegrove]

on OutFront with Erin Burnett, CNN.

[etherealtruth]

1. this is effing unreal :-(

[underpants]

2. Russians have been gobbling up real estate all over for a few years

It was a lot of Brazilians and now it's lots of Russians.

[madinmaryland]

4. Huh? How many is a brazilian??

Yeah. Every once in a while that joke has to be dragged out.

[underpants]

10. LOL

[bdamomma]

3. oh god

our borders are open huh? get the vodka ready

[The_Casual_Observer]

5. Manhattan, Los Angeles.

Ever wonder who buys 100 Million dollar houses?

[Silver Gaia]

6. What is the angle on this? Are they just gobbling up US real estate, or are they fleeing Russia?

We have a lot of Russian immigrants in my area. My next-door neighbors are Russian. Other than having a shit-ton of cars and being noisy with them, they seem like nice enough people. I've had a lot of Russian students, too, who were very nice. Some had even served in the US military. But these Russians have all been in the US for a while, and likely came to escape Putin (I don't ask), and so, that may be different. I'll have to watch this to see what the angle (and evidence) is before I make any judgments as to their motives.

[applegrove]

7. For sure it may be just that a republican was elected and they expect fewer

taxes and such so they move to the US.

[DonCoquixote]

11. The Chinese are doing the same

there are a number of reasons:

a) for those who have made money, they want to have a tax haven, and also, since the Ivy League is still the elite maker for kids, they want to make it easier for their kid to go to harvard.

b) if they are in good with Moscow or Beijing, this is a chance to maximize their power

c) if they are in BAD with Moscow or Beijing, and these government can be outright mercurial, they can run.

[Retrograde]

13. Our local paper once quoted a buyer from China

that they were buying a house in our town so that when their new-born daughter went to Stanford she would have a place to live. Meanwhile the house will be empty until then.

We don't have as many Russians here (although I hear Russian spoken more often), but wealthy Russians were notorious for driving up real estate prices in London a few years ago.

[bettyellen]

12. They have been told economic sanctions will disappear next month .

Same sanctions put an end to the rush of cash buys if Trumps named complex in Florida- they called it Little Russia and buys came to a halt after the sanctions.

[Yo_Mama_Been_Loggin]

8. Just like there's been a shit load of Chinese buying real estate

First in Vancouver BC now in the rest of the west coast.

[applegrove]

9. Yes. It could go to a housing bubble. Maybe now that American taxes

are going to favour the rich under Trump, more rich people will come to the USA.

[MineralMan]

14. Say, I have a nice 50s rambler in

St. Paul, MN. I'll let it go to Boris or Vladimir for just $500k, cash. We can close tomorrow. Move-in ready, too, and completely furnished. There are even a few dozen books in Russian downstairs.