Tapping into Chinese WealthDecember 12, 2013 – In The News
Paul Edelberg was quoted in The Connecticut Post article "Tapping into Chinese Wealth." While the full text can be found in the December 12, 2013, issue of The Connecticut Post, a synopsis is noted below.
With the economies of China and the U.S. closely intertwined, the Chinese are eyeing the American real estate market as a good place to invest their increasing wealth. And in most instances those purchases do not require a mortgage, said Fox Rothschild attorney Paul Edelberg, who also serves as president of the Connecticut China Council.
“Chinese are buying residential and commercial in the U.S., and they’re paying cash,” Edelberg said. “There’s a lot of money in China, and U.S. real estate is a safe place to put it. There aren’t a lot of investment vehicles in China. There’s concern about a real estate bubble in China. They have a stock market, but it’s not mature.”
This story was also featured in The Advocate, Greenwich Time and The News-Times.