As most Asians know, the Japanese CA buyer is a very different buyer than Chinese IMO. If you look at CA immigrants of Chinese or Japanese, there are very few Japanese and most Japanese don’t want to leave Japan. I don’t look at any place other than CA honestly since it doesn’t affect me.
In places like Cupertino, UC Irvine, many foreigners from China, Taiwan, Hong Kong, Asians from Canada buy and have no plans to leave. Those places I think are now > 50% asian already and they aren’t going anywhere. Asians also don’t trust “stocks” as much as real estate so those hands aren’t as weak as people make it out to be. It’s really hard to explain this to non-asians since the white man lives a totally different life/upbringing.
This makes their purchases MUCH more sticky than what happened in the 80s with Japan.
As flu mentioned as well, rent vs buy is also the ultimate calculation since interest rates will be stuck low for a very long time and people who are well off have more cash and very little options on their money. As has been reported, if people can move up, many are trying to keep their old homes to rent since they cash flow well.
