I think it is interesting that whenever the subject of “who” is buying houses right now comes up in a thread, it invariably starts with “asian” buyers. I noticed it in a thread about 4s, and another about CV, and now MM. Perhaps it is more perception than reality. I have no idea how to test that, it just seems interesting to a population watcher like me.
I have 3 female “asian” (1 chinese, 1 korean, 1 phillipina) coworkers who meet the “first time buyer” profile. Each is getting or has succomed to massive amounts of pressure from parents to buy a house, and each has talked about how their parents are helping. Each also has a good income, but prolific spending and I know for a fact (ie they told me) that they have no real savings to speak of, outside of their 401k.
Also, people may be walking around with dad because they are looking for alittle wisdom with a purchase they have never made before. Not because he is giving them the money.
