Wealthy Chinese investors are leaving high-rises in densely-packed cities and buying high-end suburban homes in affluent areas across the U.S.
CityLab reports that Chinese buyers spent an average of $781,801 on homes in the U.S. over the last year, $200,000 more than buyers from other leading countries. California and New York are the most popular state for Chinese buyers, but Texas, Virginia, Florida, and Indiana are becoming more common destinations, too.
Additionally, buying properties in the U.S. allows Chinese investors to diversify their portfolio in the case of a market crash in China.
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