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Fearful
ParticipantThought I’d chime in on the schools:
Cupertino high school API 873 Asian, 788 white, 817 overall
Torrey Pines high school API 913 Asian, 855 white, 852 overall
Torrey Hills elementary 986 Asian, 934 white
Collins elementary 967 Asian, 925 whiteI don’t take API scores all that seriously, but at least on that basis it is hard to argue the Cupertino schools are that much better.
Back on topic: I’m white but have known well quite a few Asians, and have to agree with much of what FLUB wrote. For example, I was struck by one finance MBA’s insistence on a 15 year mortgage. She wanted to pay it down. I tried to discuss diversifying assets, and so forth, but she would have none of it.
ParticipantThought I’d chime in on the schools:
Cupertino high school API 873 Asian, 788 white, 817 overall
Torrey Pines high school API 913 Asian, 855 white, 852 overall
Torrey Hills elementary 986 Asian, 934 white
Collins elementary 967 Asian, 925 whiteI don’t take API scores all that seriously, but at least on that basis it is hard to argue the Cupertino schools are that much better.
Back on topic: I’m white but have known well quite a few Asians, and have to agree with much of what FLUB wrote. For example, I was struck by one finance MBA’s insistence on a 15 year mortgage. She wanted to pay it down. I tried to discuss diversifying assets, and so forth, but she would have none of it.
ParticipantI think FLUB was saying that the Chinese concentration in Cupertino is far higher than Carmel Valley’s are now. I believe that.
Maybe Carmel Valley is where Cupertino was ten or fifteen years ago. My small sample – the local Torrey Hills neighborhood – shows white families moving out and Chinese moving in.
I wonder whether shudders in the Chinese economy might increase or decrease capital movement to these neighborhoods. I think some argue that any movement in the yuan / $ exchange rate would only be in the direction of yuan stronger.
I care less about living in a neighborhood with a bunch of Asians – some of my best friends are Asian, har har – than I do the neighborhood property values being supported by a relatively arbitrary preference. Then again, I do not think white people’s preferences for neighborhoods are a whole lot less arbitrary!
ParticipantI think FLUB was saying that the Chinese concentration in Cupertino is far higher than Carmel Valley’s are now. I believe that.
Maybe Carmel Valley is where Cupertino was ten or fifteen years ago. My small sample – the local Torrey Hills neighborhood – shows white families moving out and Chinese moving in.
I wonder whether shudders in the Chinese economy might increase or decrease capital movement to these neighborhoods. I think some argue that any movement in the yuan / $ exchange rate would only be in the direction of yuan stronger.
I care less about living in a neighborhood with a bunch of Asians – some of my best friends are Asian, har har – than I do the neighborhood property values being supported by a relatively arbitrary preference. Then again, I do not think white people’s preferences for neighborhoods are a whole lot less arbitrary!
ParticipantI think FLUB was saying that the Chinese concentration in Cupertino is far higher than Carmel Valley’s are now. I believe that.
Maybe Carmel Valley is where Cupertino was ten or fifteen years ago. My small sample – the local Torrey Hills neighborhood – shows white families moving out and Chinese moving in.
I wonder whether shudders in the Chinese economy might increase or decrease capital movement to these neighborhoods. I think some argue that any movement in the yuan / $ exchange rate would only be in the direction of yuan stronger.
I care less about living in a neighborhood with a bunch of Asians – some of my best friends are Asian, har har – than I do the neighborhood property values being supported by a relatively arbitrary preference. Then again, I do not think white people’s preferences for neighborhoods are a whole lot less arbitrary!
ParticipantI think FLUB was saying that the Chinese concentration in Cupertino is far higher than Carmel Valley’s are now. I believe that.
Maybe Carmel Valley is where Cupertino was ten or fifteen years ago. My small sample – the local Torrey Hills neighborhood – shows white families moving out and Chinese moving in.
I wonder whether shudders in the Chinese economy might increase or decrease capital movement to these neighborhoods. I think some argue that any movement in the yuan / $ exchange rate would only be in the direction of yuan stronger.
I care less about living in a neighborhood with a bunch of Asians – some of my best friends are Asian, har har – than I do the neighborhood property values being supported by a relatively arbitrary preference. Then again, I do not think white people’s preferences for neighborhoods are a whole lot less arbitrary!
ParticipantI think FLUB was saying that the Chinese concentration in Cupertino is far higher than Carmel Valley’s are now. I believe that.
Maybe Carmel Valley is where Cupertino was ten or fifteen years ago. My small sample – the local Torrey Hills neighborhood – shows white families moving out and Chinese moving in.
I wonder whether shudders in the Chinese economy might increase or decrease capital movement to these neighborhoods. I think some argue that any movement in the yuan / $ exchange rate would only be in the direction of yuan stronger.
I care less about living in a neighborhood with a bunch of Asians – some of my best friends are Asian, har har – than I do the neighborhood property values being supported by a relatively arbitrary preference. Then again, I do not think white people’s preferences for neighborhoods are a whole lot less arbitrary!
ParticipantI have been watching my little area in Torrey Hills closely, and am puzzled by the small declines seen thus far.
I have formed an alternate theory that may explain the stickiness. In Silicon Valley there is a city, Cupertino, that is heavily Chinese. The city has no real redeeming value besides high test scores in the schools, at least relative to any of the other cities in the area. For some reason, Cupertino became a magnet for higher income Chinese professionals (the lower income go to Milpitas, across the valley). The result is that housing prices in Cupertino are, for the quality of what you get (mediocre 1970’s era tract houses), quite high.
I am wondering if the same thing has happened to Carmel Valley and Torrey Hills, especially as I watched a parade of Chinese marching through open houses in this neighborhood, and recent house sales going to Chinese families.
I do not know whether this is significant, or even correct, but if it is, what does it mean for real estate values in the area long term?
ParticipantI have been watching my little area in Torrey Hills closely, and am puzzled by the small declines seen thus far.
I have formed an alternate theory that may explain the stickiness. In Silicon Valley there is a city, Cupertino, that is heavily Chinese. The city has no real redeeming value besides high test scores in the schools, at least relative to any of the other cities in the area. For some reason, Cupertino became a magnet for higher income Chinese professionals (the lower income go to Milpitas, across the valley). The result is that housing prices in Cupertino are, for the quality of what you get (mediocre 1970’s era tract houses), quite high.
I am wondering if the same thing has happened to Carmel Valley and Torrey Hills, especially as I watched a parade of Chinese marching through open houses in this neighborhood, and recent house sales going to Chinese families.
I do not know whether this is significant, or even correct, but if it is, what does it mean for real estate values in the area long term?
ParticipantI have been watching my little area in Torrey Hills closely, and am puzzled by the small declines seen thus far.
I have formed an alternate theory that may explain the stickiness. In Silicon Valley there is a city, Cupertino, that is heavily Chinese. The city has no real redeeming value besides high test scores in the schools, at least relative to any of the other cities in the area. For some reason, Cupertino became a magnet for higher income Chinese professionals (the lower income go to Milpitas, across the valley). The result is that housing prices in Cupertino are, for the quality of what you get (mediocre 1970’s era tract houses), quite high.
I am wondering if the same thing has happened to Carmel Valley and Torrey Hills, especially as I watched a parade of Chinese marching through open houses in this neighborhood, and recent house sales going to Chinese families.
I do not know whether this is significant, or even correct, but if it is, what does it mean for real estate values in the area long term?
ParticipantI have been watching my little area in Torrey Hills closely, and am puzzled by the small declines seen thus far.
I have formed an alternate theory that may explain the stickiness. In Silicon Valley there is a city, Cupertino, that is heavily Chinese. The city has no real redeeming value besides high test scores in the schools, at least relative to any of the other cities in the area. For some reason, Cupertino became a magnet for higher income Chinese professionals (the lower income go to Milpitas, across the valley). The result is that housing prices in Cupertino are, for the quality of what you get (mediocre 1970’s era tract houses), quite high.
I am wondering if the same thing has happened to Carmel Valley and Torrey Hills, especially as I watched a parade of Chinese marching through open houses in this neighborhood, and recent house sales going to Chinese families.
I do not know whether this is significant, or even correct, but if it is, what does it mean for real estate values in the area long term?
ParticipantI have been watching my little area in Torrey Hills closely, and am puzzled by the small declines seen thus far.
I have formed an alternate theory that may explain the stickiness. In Silicon Valley there is a city, Cupertino, that is heavily Chinese. The city has no real redeeming value besides high test scores in the schools, at least relative to any of the other cities in the area. For some reason, Cupertino became a magnet for higher income Chinese professionals (the lower income go to Milpitas, across the valley). The result is that housing prices in Cupertino are, for the quality of what you get (mediocre 1970’s era tract houses), quite high.
I am wondering if the same thing has happened to Carmel Valley and Torrey Hills, especially as I watched a parade of Chinese marching through open houses in this neighborhood, and recent house sales going to Chinese families.
I do not know whether this is significant, or even correct, but if it is, what does it mean for real estate values in the area long term?
ParticipantMaybe CV is sort of a sweet spot for value preservation: At the top of the “plankton food chain”; strongly affected by move-up equity transfers (unlike the $raptorduck territory) but not vulnerable to the initial speculation runup; preserved by the school system … the houses did not initially attract reckless buyers, and those same buyers are more likely to shrug off the high cost by virtue of the schools … also, the schools attract buyers willing to hold on longer than the typical … what does the future hold? Gravity eventually takes hold; as cost differentials to further north and to the east increase, downward pressure …
ParticipantMaybe CV is sort of a sweet spot for value preservation: At the top of the “plankton food chain”; strongly affected by move-up equity transfers (unlike the $raptorduck territory) but not vulnerable to the initial speculation runup; preserved by the school system … the houses did not initially attract reckless buyers, and those same buyers are more likely to shrug off the high cost by virtue of the schools … also, the schools attract buyers willing to hold on longer than the typical … what does the future hold? Gravity eventually takes hold; as cost differentials to further north and to the east increase, downward pressure …
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