We just bought a house and I am scared we paid too much.
I have been told that a lot of recent purchasers borrowed money in China at the very low rates their government offered to stimulate their economy and that these low rates cannot be continued because they have a bubble (see 60 minutes) which will pop and that when that happens the Chinese who bought in California will be forced to sell and real estate prices will crash.
Does anyone know if all these purchases by Chinese are being made with borrowed money? If its capital they own I am not worried. If its borrowed money I am worried.