Where Do People Get Money To Buy California Homes These Days? Often, From Mom And Dad

A recent quarterly report from Irvine-based real estate data firm Attom Data Solutions found that 48 percent of houses purchased in San Jose had sales deeds that listed multiple non-married buyers (often an indication that parents are co-buying with their children). The same was true for 38 percent of homes purchased in San Francisco.

or a bunch of asians coming together to buy property. I would be curious which
Reason for saying this: asian friend mentioned.

Asian as in born and raised here? Or immigrants?

I actually don’t fully remember which of my friends said it, but s/he said they hate this situation because they can understand what they can talk, and they mostly talk around how much the place could rent for etc. I have seen maybe 2-3 cases like this, though, so not a common occurance for me (a group of asians walking around together - similar ages most likely not family situation).

I would assume they are immigrants, but cannot really tell.

Asians born here almost always speak english. at least, that’s my experience from a limited set of 4-5 such people.

I don’t think a group of unrelated Asians banding together to buy properties is common. What’s common is mom and dad bankrolling the kid to buy, and the kid in turn get roommates to pay the mortgage.

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Probably, that’d be my experience too.

Funny story, I have an all american (white etc) friend whose dad is very well off, and my friend refuses to ask for help from dad. It might be common with americans. I am like that too.

Not Chinese, common for Indians and Vietnamese.

Is it? Didn’t know!

Many Vietnamese are actually ethnic chinese. Anyway most think like chinese. Not sure about Indians. I don’t think it’s common at all even for the Indians.

Reason is simple. In cultures that have close knit extended families, where 3 generations often live together, they like to keep money and properties “within the family” so to speak. Buying with strangers would be weird.

Yes, they don’t buy with strangers or friends. Only with relatives. White Americans are more likely to buy a house with friends/strangers than Asians.

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Buying with strangers is a symbol of emotional matureness, conflict resolution skills and adequate legal knowledge. It’s a reflection of the legal system.

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It’s a symbol of lack of funds.


Market still has legs

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How are we in a bubble when some BA neighborhoods (Antioch) are still underwater from 2005.

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