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Cash from China

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All-cash offers are becoming increasingly common in San Francisco, and CEO of real estate firm Pacific Union says buyers from China are driving the all-cash trend. He sees three types of buyers coming from China: those who are using the properties as investments, those who come to San Francisco to educate their families and those who move to the city for its lifestyle. Many of the buyers, who are especially interested in condos, look at the properties as long-term investments and aren't likely to sell in the next five to seven years. [CBS San Francisco]