bostonbubble.com

[Hard Rain]

Just Curious,

During my time spent researching home sales I have noticed anecdotal evidence that folks of Asian descent account for many recent sales (post peak), invariably when I see a full asking price sale the surname on the deed is Asian. Has anyone else noticed this phenomenon?

[Boston ITer]

[melonrightcoast]

check out this article titled "It's China's Turn to Play" on thehousingbubble.com:

http://thehousingbubbleblog.com/?p=5602

i have also noticed many, many asian (including indian) buyers this buying season, at all price points, and not in just my town. this could be an extension of what this article is saying about REITs and china/india having their own bubbles, like japan circa 1989.
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melonrightcoast ... are you?

[john p]

I work with two awesome guys from Korea. One of the guys said that they actually have "education inflation" in Korea, meaning that people with college degrees are doing custodial work because there isn't enough professional work to go around. I guess you have to compare our issues with theirs...

[Hard Rain]

According to the Pew report :

http://pewhispanic.org/reports/report.php?ReportID=109

Asians saw the largest increase of home ownership during the 1995-2008 years which would explain more buyers. I guess what I find puzzling is the "at any price" purchases, perhaps folks witnessed relatives making a killing early on and still believe real estate only goes up....

[Brian C]

With 20% of Quincy populated with Asian, houses in areas where other Asian families live are selling for asking or 5% off. I looked at a beautiful tutor for $380k in the well known Asian area and it sold right away for $378k.