Asian housing boom lures U.S. immigrant investors

[ForeignExchange]

Jan. 19, 2006

Asian housing boom lures U.S. immigrant investors

By K. Oanh Ha

Mercury News

Asian cultural practices also figure prominently. Many Asians are inclined to invest in real estate first, rather than in stocks or other commodities.

``There's a Chinese saying: `Land never rots,' '' said Corsa, a dental assistant who also owns properties in California. ``You can always live in it. You can't say the same for other investments.''

http://www.bradenton.com/mld/bradenton/news/nation/13660738.htm

 

[Spanky]

Many people have repeatedly asked me why I did not buy any real estate properties when I was still living in California since it was the things that most Asians did: own real estate, grocery stores, restaurants and gas stations, to become a doctor, dentist, engineer, or any well-paying occupation.

The answer was: I was too dumb to know any better - bummer.

 

[Howard]

My Buddies saying was, If they drop a bomb on your house , you still own the hole, land is real, paper is not.

Many Chinese have lived in eras of hyper inflation, most still have an aversion to paper, would rather own land, Gold, Jade etc

 

[bearkeley]

Interesting...maybe it's because I'm asian that I am having major heartburn with diversifying outside real estate...

it is amazing, however, how the ROI on the investments we're making in the Philippine RE is doing much better than our other investments...question is...what happens when our (US) RE market slows down?