Are Asians more bullish about housing in general…

[AK]

And things may have changed in the decades since land reform, but for my parents’ generation the thought of being a landless peasant (or its contemporary incarnation, the jealous bitter renter) filled one with dread and horror.

Indeed O.C. real estate “advisor” Gary Watts exploited this fear in his notorious “inverted year” report, exhorting his readers to buy now now now now now lest their descendants end up in perpetual serfdom. I think he specifically cited India.

[SD Realtor]

I think this is a pretty bizarre/pathetic topic to be honest.

I have a variety of clients, many of whom are Asian. Here is what I deduce…

Are Asians more bullish? No. In fact all of my clients who are Asians realized the market conditions and identified they were buying for personal reasons, not because they thought the market had bottomed.

Are Asians better qualified? Of all the Asian clients I have had, I think less then 5 of them needed to go FHA. Most of them had strong downpayments. Most of them had strong incomes, the majority of them dual incomes.

Are Asians idiots for buying? Not if they are buying for the right reasons.

In general there is not any difference between the race of any buyer. The original poster is probably seeing more Asian buyers because the buyers pool has weeded out the idiots who were not fiscally responsible enough over the last decade to save money, and work hard. So what you have left in the buyers pool are p responsible people who were not boneheads. Go figure, many of them are Asian.

[SD Realtor]

I think this is a pretty bizarre/pathetic topic to be honest.

I have a variety of clients, many of whom are Asian. Here is what I deduce…

Are Asians more bullish? No. In fact all of my clients who are Asians realized the market conditions and identified they were buying for personal reasons, not because they thought the market had bottomed.

Are Asians better qualified? Of all the Asian clients I have had, I think less then 5 of them needed to go FHA. Most of them had strong downpayments. Most of them had strong incomes, the majority of them dual incomes.

Are Asians idiots for buying? Not if they are buying for the right reasons.

In general there is not any difference between the race of any buyer. The original poster is probably seeing more Asian buyers because the buyers pool has weeded out the idiots who were not fiscally responsible enough over the last decade to save money, and work hard. So what you have left in the buyers pool are p responsible people who were not boneheads. Go figure, many of them are Asian.

[SD Realtor]

I think this is a pretty bizarre/pathetic topic to be honest.

I have a variety of clients, many of whom are Asian. Here is what I deduce…

Are Asians more bullish? No. In fact all of my clients who are Asians realized the market conditions and identified they were buying for personal reasons, not because they thought the market had bottomed.

Are Asians better qualified? Of all the Asian clients I have had, I think less then 5 of them needed to go FHA. Most of them had strong downpayments. Most of them had strong incomes, the majority of them dual incomes.

Are Asians idiots for buying? Not if they are buying for the right reasons.

In general there is not any difference between the race of any buyer. The original poster is probably seeing more Asian buyers because the buyers pool has weeded out the idiots who were not fiscally responsible enough over the last decade to save money, and work hard. So what you have left in the buyers pool are p responsible people who were not boneheads. Go figure, many of them are Asian.

[SD Realtor]

I think this is a pretty bizarre/pathetic topic to be honest.

I have a variety of clients, many of whom are Asian. Here is what I deduce…

Are Asians more bullish? No. In fact all of my clients who are Asians realized the market conditions and identified they were buying for personal reasons, not because they thought the market had bottomed.

Are Asians better qualified? Of all the Asian clients I have had, I think less then 5 of them needed to go FHA. Most of them had strong downpayments. Most of them had strong incomes, the majority of them dual incomes.

Are Asians idiots for buying? Not if they are buying for the right reasons.

In general there is not any difference between the race of any buyer. The original poster is probably seeing more Asian buyers because the buyers pool has weeded out the idiots who were not fiscally responsible enough over the last decade to save money, and work hard. So what you have left in the buyers pool are p responsible people who were not boneheads. Go figure, many of them are Asian.

[SD Realtor]

I think this is a pretty bizarre/pathetic topic to be honest.

I have a variety of clients, many of whom are Asian. Here is what I deduce…

Are Asians more bullish? No. In fact all of my clients who are Asians realized the market conditions and identified they were buying for personal reasons, not because they thought the market had bottomed.

Are Asians better qualified? Of all the Asian clients I have had, I think less then 5 of them needed to go FHA. Most of them had strong downpayments. Most of them had strong incomes, the majority of them dual incomes.

Are Asians idiots for buying? Not if they are buying for the right reasons.

In general there is not any difference between the race of any buyer. The original poster is probably seeing more Asian buyers because the buyers pool has weeded out the idiots who were not fiscally responsible enough over the last decade to save money, and work hard. So what you have left in the buyers pool are p responsible people who were not boneheads. Go figure, many of them are Asian.

[briansd1]

Since love, marriage and real estate are inextricable intertwined, it might be a good idea for poor Anglo guys to date Asians women from professional families.

One of my friends got married and they got $200k wedding gift from the bride’s parents. I understand that in Asian culture the bride’s family does not pay for the wedding reception, but they offer a dowry.

I’ve been to some weddings and I know that wedding gifts are generally cash, not useless trinkets.

So parents’ gifts + wedding gifts = your 20% dowpayment. 😉

[briansd1]

Since love, marriage and real estate are inextricable intertwined, it might be a good idea for poor Anglo guys to date Asians women from professional families.

One of my friends got married and they got $200k wedding gift from the bride’s parents. I understand that in Asian culture the bride’s family does not pay for the wedding reception, but they offer a dowry.

I’ve been to some weddings and I know that wedding gifts are generally cash, not useless trinkets.

So parents’ gifts + wedding gifts = your 20% dowpayment. 😉

[briansd1]

Since love, marriage and real estate are inextricable intertwined, it might be a good idea for poor Anglo guys to date Asians women from professional families.

One of my friends got married and they got $200k wedding gift from the bride’s parents. I understand that in Asian culture the bride’s family does not pay for the wedding reception, but they offer a dowry.

I’ve been to some weddings and I know that wedding gifts are generally cash, not useless trinkets.

So parents’ gifts + wedding gifts = your 20% dowpayment. 😉

[briansd1]

Since love, marriage and real estate are inextricable intertwined, it might be a good idea for poor Anglo guys to date Asians women from professional families.

One of my friends got married and they got $200k wedding gift from the bride’s parents. I understand that in Asian culture the bride’s family does not pay for the wedding reception, but they offer a dowry.

I’ve been to some weddings and I know that wedding gifts are generally cash, not useless trinkets.

So parents’ gifts + wedding gifts = your 20% dowpayment. 😉

[briansd1]

Since love, marriage and real estate are inextricable intertwined, it might be a good idea for poor Anglo guys to date Asians women from professional families.

One of my friends got married and they got $200k wedding gift from the bride’s parents. I understand that in Asian culture the bride’s family does not pay for the wedding reception, but they offer a dowry.

I’ve been to some weddings and I know that wedding gifts are generally cash, not useless trinkets.

So parents’ gifts + wedding gifts = your 20% dowpayment. 😉

[an]

[quote=carlsbadworker]Excessive savings takes away other life goals and other life enjoyment. I know some stories of Asian that have a million in the bank but eat spoiled food. It is suicidal for no reason at all.[/quote]
You’re assuming saving is not their main goal in life. You must not know very many true savers. If you do, you’d know that making them spend is like pulling their nails out.

[an]

[quote=carlsbadworker]Excessive savings takes away other life goals and other life enjoyment. I know some stories of Asian that have a million in the bank but eat spoiled food. It is suicidal for no reason at all.[/quote]
You’re assuming saving is not their main goal in life. You must not know very many true savers. If you do, you’d know that making them spend is like pulling their nails out.

[an]

[quote=carlsbadworker]Excessive savings takes away other life goals and other life enjoyment. I know some stories of Asian that have a million in the bank but eat spoiled food. It is suicidal for no reason at all.[/quote]
You’re assuming saving is not their main goal in life. You must not know very many true savers. If you do, you’d know that making them spend is like pulling their nails out.

[an]

[quote=carlsbadworker]Excessive savings takes away other life goals and other life enjoyment. I know some stories of Asian that have a million in the bank but eat spoiled food. It is suicidal for no reason at all.[/quote]
You’re assuming saving is not their main goal in life. You must not know very many true savers. If you do, you’d know that making them spend is like pulling their nails out.

[Author]

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