The American Dream has a big new buyer: the Chinese. According to a survey published Tuesday by the National Association of Realtors, foreign purchases of U.S. residential real estate jumped 35% last year, with Chinese buyers leading the way. As the WSJ's Nick Timiraos reports:

Chinese customers purchased $22 billion in housing for the 12-month period ending in March, or around 24% of all foreign sales by dollar volume, up from $12.8 billion, or 19%, during the year-earlier period. Total international property purchases stood at $92.2 billion, according to the NAR's estimates, up from $68.2 billion the year before...