They do that in Vancouver and Toronto as well, hence the jacked up property prices.The Wall Street Journal just posted up the top cities in America where the Chinese are buying houses either to park their money and/or to actually live in. Irvine, California, was number eight on the list if I remember correctly. I'll have to post up a link to the article tomorrow. Figures that New York City was number one on their hit parade.
I can see why the call Vancouver the Hong Kong of Canada, at least they do in my neck of the woods here in the U.S.They do that in Vancouver and Toronto as well, hence the jacked up property prices.