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July 10, 2008 at 10:06 AM #236950July 10, 2008 at 10:09 AM #236758AnonymousGuest
Living across the street from a foreclosure (sample size of 1), I see a lot of young couple with what looks to be a parent. That could explain the down payment, but no insight into their professions. But that also probably means they have parents with cash to fall back on.
July 10, 2008 at 10:09 AM #236887AnonymousGuestLiving across the street from a foreclosure (sample size of 1), I see a lot of young couple with what looks to be a parent. That could explain the down payment, but no insight into their professions. But that also probably means they have parents with cash to fall back on.
July 10, 2008 at 10:09 AM #236896AnonymousGuestLiving across the street from a foreclosure (sample size of 1), I see a lot of young couple with what looks to be a parent. That could explain the down payment, but no insight into their professions. But that also probably means they have parents with cash to fall back on.
July 10, 2008 at 10:09 AM #236941AnonymousGuestLiving across the street from a foreclosure (sample size of 1), I see a lot of young couple with what looks to be a parent. That could explain the down payment, but no insight into their professions. But that also probably means they have parents with cash to fall back on.
July 10, 2008 at 10:09 AM #236955AnonymousGuestLiving across the street from a foreclosure (sample size of 1), I see a lot of young couple with what looks to be a parent. That could explain the down payment, but no insight into their professions. But that also probably means they have parents with cash to fall back on.
July 10, 2008 at 10:27 AM #236804sdrealtorParticipantI have no idea as to what the occupations are as am helping the listing agent and only see names and down payments. I am not an expert but I would guess Vietnamese, Chinese, Korean, Hmuong etc.
As for employment downturns impacting them, the P&I on a $200K loan is only about $1200/month. Taxes are $300, $0 HOA and throw in $100 for insurance etc. Thats $1600/month with an after tax cost of about $1200 or less. I would suspect that they arent putting all their money down and have ample reserves also. I also believe most are dual income households so I wouldnt think they would have much trouble meeting that obligation working at the local Taco Bell if necessary. But what do I know?
July 10, 2008 at 10:27 AM #236932sdrealtorParticipantI have no idea as to what the occupations are as am helping the listing agent and only see names and down payments. I am not an expert but I would guess Vietnamese, Chinese, Korean, Hmuong etc.
As for employment downturns impacting them, the P&I on a $200K loan is only about $1200/month. Taxes are $300, $0 HOA and throw in $100 for insurance etc. Thats $1600/month with an after tax cost of about $1200 or less. I would suspect that they arent putting all their money down and have ample reserves also. I also believe most are dual income households so I wouldnt think they would have much trouble meeting that obligation working at the local Taco Bell if necessary. But what do I know?
July 10, 2008 at 10:27 AM #236943sdrealtorParticipantI have no idea as to what the occupations are as am helping the listing agent and only see names and down payments. I am not an expert but I would guess Vietnamese, Chinese, Korean, Hmuong etc.
As for employment downturns impacting them, the P&I on a $200K loan is only about $1200/month. Taxes are $300, $0 HOA and throw in $100 for insurance etc. Thats $1600/month with an after tax cost of about $1200 or less. I would suspect that they arent putting all their money down and have ample reserves also. I also believe most are dual income households so I wouldnt think they would have much trouble meeting that obligation working at the local Taco Bell if necessary. But what do I know?
July 10, 2008 at 10:27 AM #236987sdrealtorParticipantI have no idea as to what the occupations are as am helping the listing agent and only see names and down payments. I am not an expert but I would guess Vietnamese, Chinese, Korean, Hmuong etc.
As for employment downturns impacting them, the P&I on a $200K loan is only about $1200/month. Taxes are $300, $0 HOA and throw in $100 for insurance etc. Thats $1600/month with an after tax cost of about $1200 or less. I would suspect that they arent putting all their money down and have ample reserves also. I also believe most are dual income households so I wouldnt think they would have much trouble meeting that obligation working at the local Taco Bell if necessary. But what do I know?
July 10, 2008 at 10:27 AM #237000sdrealtorParticipantI have no idea as to what the occupations are as am helping the listing agent and only see names and down payments. I am not an expert but I would guess Vietnamese, Chinese, Korean, Hmuong etc.
As for employment downturns impacting them, the P&I on a $200K loan is only about $1200/month. Taxes are $300, $0 HOA and throw in $100 for insurance etc. Thats $1600/month with an after tax cost of about $1200 or less. I would suspect that they arent putting all their money down and have ample reserves also. I also believe most are dual income households so I wouldnt think they would have much trouble meeting that obligation working at the local Taco Bell if necessary. But what do I know?
July 10, 2008 at 11:13 AM #236829DWCAPParticipantI 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.
July 10, 2008 at 11:13 AM #236957DWCAPParticipantI 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.
July 10, 2008 at 11:13 AM #236968DWCAPParticipantI 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.
July 10, 2008 at 11:13 AM #237012DWCAPParticipantI 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.
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