SHILOH – it’s GOOD JOBS and GOOD Saving habits, like Dejam said. SD transplant – thanks for the run down. Interesting. Indeed, some really rich foreigners (who’ve make their money outside of SD area) park some money here. In fact, some rich Americans do the same – I’ve heard that there are quite a few second homes in RSF belonging to billionairs else where in this country. But they don’t inflate general housing price here.
Talking about 2nd generation Asians, I read an article on OC Register this weekend profiling 2nd generation Asians who follow the tradition of helping to support their parents in their old age. Growing up with that expectation (to support your parents) certainly motivates you to seek a good job. I know that from personal experience. Once a realtor sugguested that I should hit my parents for any downpayment, like a lot of people do. I just laughed.
Back to the topic — foreign born professionals who make a living in SD are part of the local economy, their money is not foreign money. Real “foreign money” (from rich foreigners or corrupted sources) probably on the margin pop up prices in certain neightborhoods, but I doubt that is a big influencer for SD housing prices in general.
