Rich Asians crowd into US property

The US real estate market has bounced back over the past seven years thanks in no small part to Asian interest, with China leading the way. Chinese investors now account for 16% of US residential property purchases made by foreigners, a proportion that has tripled over the last seven years. Scorpio Partnership data suggests that, on average, Asian individuals with wealth exceeding $100,000 are investing more than 30% of it overseas. The US attracts some 24% of their overall weal…