So you have some extra money and you don’t know what to do with it. How about buying a little place for your offspring to stay while going to college, because those nasty dorms are not quite what you had in mind for your child. A rich, Chinese lady from Hong Kong just purchased a $6.7 million condo so when her daughter goes to Columbia or NYU, she can study (or party) in style. The odd thing is that the little girl is only two years old and doesn’t even know what college is, let alone New York City.
This is not about spoiling your kids, it’s about having so much money that you are able to plan ahead. The realtor who sold the property said his client base is 25% Chinese; two years ago it was 15% and before that it was 5%.
Many years ago we frequented our favorite restaurant in New York’s Chinatown. It was a madhouse of colorful stores selling trinkets made in China, rows of Chinese eateries and lots of Chinese people who never smiled. Who knew that years later the Chinese would own ½ of the United States of America. They have come a long way from dressing the same and having that sad look on their face. I say good for them, to a point. I don’t like to see people living under a government that has total control over their lives, but the President of the Peoples Republic of China must be doing something right. They exported over $311 billion in products to the United States in 2011.
It is time we got serious about buying American. We have to support the businesses that are working so hard to survive in our own country. Although the cost might be a little higher, the end result means much more than the product itself. Think about it! It would mean that eventually we could possibly own New York City again.