the Chinese are coming…
the Chinese are coming…
the Chinese are coming…
good grief.
what proportion of your average Asian buyer in SoCal are really foreign buyers using $RMB, Won, Yen, or $NT?
the vast majority of your “Chinese invasion” is really Asian Americans with their American jobs getting paid $US dollar. The drive to live in good school districts, the drive to outcompeting fellow Korean or fellow Taiwanese or fellow Chinese, and the desire to live in areas with lots of Asian food choices cause the clustering that you see there in Diamond Bar/Rowland heights/HH.
And in general there is a strong desire for homeownership, so you will get a lot of Asian buyers still ignoring the bubble and jumping in. They will pay for their mistake. Just like everybody else that have caught the falling knife. It’ll just occur SLOWER. But fall they will.
and for the record, renting does sux, but it beats losing $200k in equity in 1-2 years!
