Talk about how Chinese investors are different from other foreign investors.

What are they looking at, how do they treat their investment and property differently?

Sure, thank you for having me.

Actually when you think about the Chinese investor in general right, they're looking for the same type of return,

the same type of stability that any foreign buyer will look in the U.S.

And I think that's the biggest thing for Chinese. The U.S. is a safe haven for their money.

When they're talking about, when you said Chinese now is number one, instead of Canada,

you're talking about 29 billion dollars that have been invested over the last year.

It's a huge number. And not only for the commercial real estate, not only I mean, here in New York they bought the Waldorf Astoria.

And that was what, 1.9 billion dollars. So when you see that and other commercial, they're eating up companies like, construction companies.

So they're really looking into the real estate market, not only for "let's buy trophy properties in New York",

"let's buy trophy properties in LA," but they're also looking at the building.

Let's buy land and let's partner up, let's do it the right way.

Let's partner up with local, a specialist, local developers that can help us and really bring this and build something.

Scarlet: So they're entering in at an earlier point in the cycle. You mentioned the Waldorf Astoria,

that of course used to house dignitaries during (Peggy: That's Correct.), you know, the United Nations general assembly,

but there are now questions over whether it is safe for U.S. officials like the president to stay there.

What kind of political pushback are you seeing to Chinese ownership of landmark properties or trophy properties?

We really haven't seen any. I think that the U.S. is really welcoming that type of investment.

And I think that follows also the residential trend.

You know, as the big corporations are investing money, also the typical Chinese buyer,

who the natural markets have been, New York, California, they're looking at other markets like Miami to invest.

And really in general, when you're seeing in this type of investment and this type of money being imported by these large corporations,

you know, the parents are looking for what, education, education, education. (Scarlet: Sure, sure.)

I want my kids in the U.S. and what better lead than some of the big corporations in China investing here.

So talk about how the Chinese yuan devaluation in August played into all this.

Did it slow the flood down a little bit, did you see any kind of impact?

You know, I actually saw a very positive impact, because they have so much uncertainty.

That they want their flight to safety, they're almost, you know,

they remind me of the south American buyers buying into Miami to put their money into their safety deposit box in the sky.

I see the Chinese also doing that.

I mean, overall they're still up in the stock market, but the uncertainty of them in general I think, it really helped us in the U.S.

Ok, so that yuan devaluation perhaps pushing more people to look into U.S. property. (Peggy: I think so, I believe.)