**Title:** Peebles Corporation CEO Discusses Impact of New Property Law on Chinese Buyers in Florida | CNBC
**Description:**
Join Don Peebles, CEO and chairman of the Peebles Corporation, as he discusses the implications of Florida’s new property law that restricts Chinese nationals from purchasing real estate in the state. In this interview on CNBC’s ‘The Exchange’, Peebles shares insights on the state of commercial real estate in America and provides expert analysis on the potential economic consequences of this law.
As the CEO of a prominent real estate company, Peebles sheds light on the significance of the Chinese market in South Florida. He highlights its appeal to foreign investors, particularly Russian and Chinese buyers. He also discusses his concerns regarding the potential negative impact on the economy, as well as the restriction on free market principles.
Peebles expresses his opposition to the law, emphasizing the potential harm to individuals trying to sell their properties and the potential slowing down of developments. He questions the authority of Governor DeSantis to determine who can purchase real estate in Florida, viewing this move as a political strategy that may backfire.
Furthermore, Peebles brings attention to the effects of similar policies implemented in other regions, such as Vancouver, which resulted in unintended consequences for smaller buyers. He argues that reduced demand for real estate will ultimately lead to a decrease in property prices.
In addition to discussing the Chinese market, Peebles shares his insights on other potential beneficiaries of this law, such as California and New York, particularly attracting buyers from Eastern Europe. He also touches upon the challenges faced by the commercial real estate sector, including low office occupancy rates and the impact of the pandemic.
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Don Peebles, CEO and chairman of the Peebles Corporation, joins ‘The Exchange’ to discuss a new property law in Florida that restricts Chinese nationals from buying property in the state, the health of commercial real estate in America, and more. For access to live and exclusive video from CNBC subscribe to CNBC PRO: https://cnb.cx/2NGeIvi
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Is this dude got washed in a bleach setting
it’s hard to deny that the left are pro communism globalists – that care nothing about American citizens or the middle class – when you see clips such as this.
He thinks investors next best real estate opportunity after florida is san fran and ny?
Big win for Florida Americans aren't allowed to buy real estate in a lot of other countries due to these same types of restrictions why should we allow them to buy in ours.
I don’t like Ron DeSantis at all but he’s right on this
Wait, can we buy real estate freely in China? Oh right, we can’t!
Why does anyone care?
24%!!
Good
Peebles is spot-on!
"Another black eye for Florida" lol. Wonder if this guy has a political slant?
Real estate brokers don’t care who buys the homes lol
Oh no, not the rich losing money noooooooooo