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Town Where Chinese Millionaires House their Kid and Mistress

submitted by C-note

6 years 10 months 1 week ago

There are people who live their entire life never fearing unemployment or understanding destitution.

7 Comments

In my part of the world, real estate agents get 3.5% of the sale, so she makes about $2.5 mill last year. Wild.

It's shocking that Chinese citizens don't fall into involuntary laughing fits every time their government describes it's self as "Communist".

The reason for cash payment is: No mortgage means you escape Federal laws when a mortgage is involved in which the "beneficial owner"---the actual owner---has to be revealed to the bank.
lol

Money laundering.

I expected the video would be about Vancouver...

I would guess its more about chinese "law" than US laws.

The reason for cash payment is: No mortgage means you escape Federal laws when a mortgage is involved in which the "beneficial owner"---the actual owner---has to be revealed to the bank.
lol

Money laundering.

The bit mentioned about owning the land from generation-to-generation stems from the fact that in mainland China, nobody owns property - they get a 100 year lease (at most).

lol @ Maserati bargain price.

Drives a Maserati, lives in California for 5 years, goes to community college, can't speak enough English for a short interview.

I believe someone's not being completely candid. Readying the "NO! No Engrish!!!" escape from responsibility or embarrassment, I think...

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