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Chinese investors are putting money into SF real estate with the goal of exporting capital to safer havens.

Were China to choose to depreciate their currency (especially at a faster rate than they are currently) this could lead to an acceleration in attempts to export capital.

It's not clear which way this linkage works (at least to me)

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The Chinese launderers are putting into SF property. In August 2015, 35% of new property in CA was bought by the Chinese (80% in Irvine alone).

If the Yuan weakens to USD, the Chinese have less buying power in the U.S. for laundering, and existing launderers will be incentivized to pull out (sell).

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