The Chinese are coming to the United States and they are grabbing real estate properties left and right. The Chinese apparently finds US real estate quite a bargain considering the low average home prices as a result of the housing problem the country is experiencing. Proof? Ying Guohua, a Beijing lawyer, is looking for a $1 million dollar home either in Los Angeles or New York not only as an investment but in preparation for his 5-year old son who might one day study College in the US.

Ying is only one of the growing numbers of Chinese nationals who are considering investing in America’s real estate. The real estate slump is undoubtedly beneficial to Chinese businessmen who now consider US home prices very affordable. Ying said it is a good time to invest considering that the price of homes in LA and New York will go up after the financial crisis.

The ultra-rich Chinese may have been into US real estate for a long time now but the spate of new investors is an entirely new breed of real estate investors. Thanks to the rising Chinese income and economy, owning a home in the land of milk and honey has finally become a reality.