Real Estate
Asians in America: A Focus on Filipino Americans
Because some call Filipinos Americans “the invisible minority,” you might think that there are not many of us in the US. We are, in fact, the second largest Asian American ethnic group. That statistic and others are reported in A Community of Contrasts (from the Asian American Center for Advancing Justice) which managed to gather statistics about individual Asian ethnic groups in the US. In the fourth of this series about Asians in America, I [...] Continue »
Asians In America: The Under-Represented Asian Americans
Recently, I covered the some of the overview of the numbers and statistics as they relate to Asian Americans in a new report from the Asian American Center for Advancing Justice (Advancing Justice). As I mentioned in the previous article, never before have we gotten such detailed information on each of the different Asian sub-groups. I’ve already covered the Taiwanese sub-group in detail; in this post, I’m going to focus on the sub-groups that tend [...] Continue »
Asians In America: A Focus On Taiwanese Americans
Recently, I covered the some of the overview of the numbers and statistics as they relate to Asian Americans in a new report from the Asian American Center for Advancing Justice (Advancing Justice). As I mentioned in the previous article, never before have we gotten such detailed information on each of the different Asian sub-groups. In this blog post, I’m going to focus on one sub-group, and the information found around them in the report, [...] Continue »
Chinese Americans Tend to Borrow Less
A new study by Rui Yao (the same researcher who found that Chinese Americans prefer riskier investments), found that while 72 percent of Chinese-American households hold a mortgage, only five percent of those households have outstanding auto loans, and only three percent have any other type of consumer debt. Yao has a few ideas for why there’s not as much debt in Chinese American households. “This result may reflect some unique aspects of the Chinese [...] Continue »
Asian Americans Lose Top Income Spot
If you look closely enough at the numbers in a new Pew research report, Twenty to One, you’ll find that Asian American households have dropped from having the highest median household wealth in 2005, having lost 54% of their assets by 2009 during the “Great Recession” (by contrast white households lost 16%). In the report, the actual numbers show that for Asian American households, “net worth fell from $168,103 in 2005 to $78,066 in 2009″. [...] Continue »
1 Out Of 10 Foreign U.S. Home Buyers From China
With the U.S. Economy on the skids and the housing market going nowhere fast, it seems there might be a savior for American home owners who are desperate to sell. In many markets, home prices have declined significantly, and low prices would indicate there’s a buying opportunity for bargain hunters. Leave it to the Chinese to pick up on that fact and step in to buy up the bargains in both the luxury and investment [...] Continue »
Asian Americans Hit Harder In The Housing Downturn
In addition to the reports that Asian Americans were unemployed longer during the recession, it turns out that Asian Americans lost more equity than other Americans with the housing downturn in recent years. Which may make you wonder how it’s possible Asian Americans are the most optimistic group regarding the American Dream. A new study by the Asian Real Estate Association of America (AREAA) and the UCLA Asian American Studies Center found that home ownership [...] Continue »
Buy A Murder House During Ghost Month
August 10 marked the start of Ghost Month, a Chinese and Taiwanese celebration based in superstition around wandering souls. There’s a belief that for one month out of the year, deceased souls can come out and visit the living. Because of this belief, it’s also considered bad luck to buy a house during Ghost Month in Taiwan, although the effect has lessened as the belief in superstition has diminished with younger generations. Couple Ghost Month [...] Continue »
Realtors learn about Asian-American Community Traits
Every day I drive by an unsold house near my home. It’s been on the market for months. It’s not that the economy is stopping sales – the house next door to me sold in a week. The problem is that the house sits at the top of a T intersection – a house whose Feng Shui is unacceptable in my predominantly Asian neighborhood. This article from the San Jose Mercury News talks about a [...] Continue »
Asian-Americans join other Minority Real Estate Groups to make Housing Crisis Recommendations
When you hear about high end/high income Asian American neighborhoods and Asian-American influences on real estate markets, it can be easy to forget that Asian-Americans have incomes that vary greatly. The Asian Real Estate Association of America (AREAA) joined with the National Association of Hispanic Real Estate Professionals and National Association of Real Estate Brokers (NAREB) to issue a plan for addressing the housing crisis in minority communities. The plan‘s five points focus on expanding [...] Continue »
Chinese Looky Lous – Looking at US Real Estate but not Buying?
Last year, during the depths of the financial crises, groups of investors from China toured the US looking at real estate opportunities. While many in the US real estate industry hoped that this would bring a wave of Chinese buying, this article from the New York Times says that Chinese are being Looky Lous – checking out properties but not buying. I supposed this is dependent on location. My realtor brother-in-law, who lives with [...] Continue »
Asians Have Biggest Drop in Home Ownership
It turns out the recent Census data recently blogged about on 8Asians had some additional interesting information buried in the numbers. With the recession, it was no surprise that the home ownership rate in the U.S. has dropped as scores of homes have been foreclosed upon. The surprising statistic is that Asians have fared worse than any other category, with the largest drop in home ownership. Home ownership for Asians fell 1.24% in 2008, compared [...] Continue »
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