China starting enforcement of taxation of overseas income and investments.
So, with China starting enforcement of their 1993 tax code, which requires Chines citizens to pay taxes on any overseas income and declare overseas investment, I wonder what the effect will be on the Westcoast housing market.
After the crash, so much money came in from Chinese investors, that those purchases had a big effect on the rise of real estate markets here. As of Feb 1st, certain overseas investments are no longer allowed (don't know if real estate is included), so, I think that might make a difference.
Will also be tough for Chinese citizens to have to pay taxes in the countries they're working in, as well as in China. I wonder, if that's going to make some Chinese companies close their not-in-China subsidiaries .
http://www.nytimes.com/2015/01/08/business/international/china-starts-enforcing-tax-law-for-citizens-working-abroad.html