I recently spoke on a panel for CREW San Francisco discussing the “New Cash Economy: Foreign Direct Investment in Bay Area Real Estate.” I began with a broad overview of the global investment landscape looking at the increase in investment activity over the last several years with a focus on capital flows today versus the prior peak of 2007. Interesting to note that across all regions investment volumes are up to 90% of previous peak levels with activity in APAC more than double since 2007. Cross border activity has been a main driver of this increase, driven by economic, demographic and global shifts causing global investors to look for stability and income. Specifically, there has been a tremendous amount of wealth creation in the last decade, especially in emerging economies such as China, India and Brazil as these countries have transformed from rural agricultural economies into industrial ones. In 2009, $43.3 billion of non-financial capital was invested outside of China and by 2013 that figure had doubled to more than $90.2 billion. By 2020, it is projected that China’s investment capital will amount to $16.4 trillion. If only 5% of that money goes offshore, that equals $822 billion – a sizable amount of capital to invest.