OK people bringing money in from asia : I doubt that. Why ??? Until ~7-10 years ago there where serious restrictions about how much you can bring over from India. In 1992 I was allowed $200. I am sure China and other asian countries are the same. I think they have increased it to ~2000 maybe, but its not gotten un capped I am sure. BTW The dollar used to be as high as 50 against the rupee, but it has recently dropped to ~45. So the weakening dollar, isn’t really against the third world really. Of course china has it indexed to the dollar.
Now I believe that it has to do with sense of entitlement. I routinely see my fellow co worker Injuns (who are probably making ~the same $$ as me) plonk down 450K+ for a 3000 sqft tract build which is also readily available from a different builder with lesser trim for 180K, and I have to wonder, what do these people know about the economy, demographics and history of this part of the country. Turns out, I have to explain to them what baby boomers are, what the bond market is all about and what the yen carry trade is. Oh yea, we all work at a bank, the largest in the world.
I just call it tunnel vision, or the fact that they let their wives decide and the marketing is geared to flummox women. I am there fore lucky … my wife will put the functionality of a plan well ahead of trim and design. Now I have to go find a 1 level house (Ranch) as per her orders. Sheesh.
Cool.
Cow_tipping.
