Interesting point of view … something many of us have been saying for years. Very wealthy individuals are looking for safer places to put some of their money and right now the Chinese are the real active ones. They can buy expensive real estate in the US and parts of Europe, fill them with expensive works of art and antiques, and know that if the crap hits the fan in their home countries they can get out and still live “high on the hog” by selling off some of their hard assets.
If you spend $100 million on a NYC apartment, fill it will another $900 million in art and antiques and then can only sell it all for 50 cents on the dollar you can live very well on the resulting $500 million. And odds are they will do much better than 50% on the sell. Of course, that also leaves them all their other homes, art, antiques, cars, etc.
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Picasso