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80% Of All New Home Buyers In Irvine Are Chinese
When RealtyTrac released its latest home sales report, "which shows single family home and condo sales through August were on pace for an eight-year high nationwide and in 110 out of 204" it was something else that caught our eye. According to RealtyTrac president Daren Blomquist, "the continued strength in sales volume across a wide spectrum of markets in August indicates that shockwaves from recent global stock market instability have not weakened the housing recovery and in fact there is evidence that the instability has fueled more demand for U.S. real estate."
Which was to be expected: as we have said for the past 4 years, one of the three pillars supporting US housing, or at least the very high end, is the money laundering of offshore hot money in the US, where courtesy of the NAR's exemption from anti-money laundering provisions, wealthy foreigners can park any amount of cash in US housing without any questions asked. In August this was particularly acute because as Blomquist adds, "cash sales share was more pronounced in markets that have traditionally been magnets for foreign cash buyers, including Boston, Las Vegas, San Francisco, Seattle and New York.”
And here was the stunner in question: "We are seeing more globalization as Southern California has become a destination for international buyers," said Mark Hughes, chief operating officer with First Team Real Estate, covering the Southern California market. "Eighty percent of new construction in Irvine last year was sold to Chinese buyers. International buyers are driving home prices up and sometimes out of reach for many local residents."
You read that right, a whopping 80% of all new housing in Irvine was bought by Chinese.
Which prompted some follow up reading. This is what we found:
- California is the most popular U.S. destination for Chinese real estate buyers, according to Juwai.com, a Hong Kong-based property search engine.
- Chinese bought 32% of homes sold to foreign buyers in California, double the share sold to Canadians, according to an April 2014 survey by the California Association of Realtors. About 70 percent of international buyers pay cash, the survey showed.
- Buyers from Greater China, including people from Hong Kong and Taiwan, spent $22 billion on U.S. homes in the first quarter of 2014, up 72 percent from the same period in 2013 and more than any other nationality, the National Association of Realtors said yesterday in its annual report on foreign home purchases. That’s 24 cents of every dollar spent by international homebuyers, according to the survey of 3,547 real estate agents.
- "A lot of people are trying to hedge against a generally bearish outlook for the Chinese economy,” Hanemann said in a telephone interview. “Buying real estate overseas has been in the past limited to a relatively small group of wealthy individuals and sometimes government officials. But it’s become a much bigger trend, involving affluent middle-class people."
- Affluent being the key word: Chinese buyers paid a median of $523,148 per transaction, compared with a U.S. median price of $199,575 for existing-home sales. While Canadians bought more houses than the Chinese, they spent less -- a median of $212,500 per residence, for a total of $13.8 billion.
To be sure, the Chinese influx was felt particularly during 2014 when the first reverberations of the burst Chinese housing bubble were felt, and forced many to look to the US for parking capital for safety: "The uncertainties in China’s domestic market are contributing to a higher rate of growth in Chinese interest in U.S. property,” Andrew Taylor, co-chief executive officer of Juwai.com, said in an e-mail. “That interest began accelerating in the second quarter of 2014, in part because of China’s property slowdown."
It remains to be seen if the recent modest uptick in Chinese housing transactions, if not prices, will lead to a capital reallocation by Chinese buyers out of California and back into China. But in the meantime, Chinese buyers have made numerous domestic housing markets inaccessible to average Amercians:
- Buyers from China are driving up prices and fueling new construction in Southern California areas such as Arcadia, a city of about 57,500 people with top-rated schools, a large Chinese immigrant community and an array of Chinese restaurants and markets.
The median home price in Arcadia’s 91006 ZIP code was $1.28 million in mid-2014, up 18.5 percent from a year earlier, according to research firm DataQuick.
- “About 90 percent of my buyers are from China,” said Peggy Fong Chen, a broker with Re/Max Holdings Inc., who sold 80 homes in Arcadia last year. “They want new construction. They want two levels. In China, it is considered a mansion if it has two levels.”
- More than three out of four buyers pay cash, said Chen, a native of Hong Kong who’s been selling real estate for 10 years. At least 20 percent are absentee owners who don’t have long-term visas yet. Many purchase houses for their children to attend high school or college, she said.
- Buyers from China and Asian-Americans purchased about 80 percent of the 47 houses sold at Tri Pointe Homes Inc.’s Arcadia at Stonegate community in Irvine, about 40 miles southeast of Los Angeles, according to Tom Mitchell, president of the Irvine-based builder.
- Almost half of the buyers paid cash for houses in the development, at prices starting at $1.16 million, he said. The company has been surprised by how word travels among overseas buyers. “A Chinese national bought one of our houses at Arcadia in Irvine after reading about it on a blog,” Tri Pointe CEO Doug Bauer said in a telephone interview. “It was a Chinese blog. We couldn’t even read it.”
Which brings us to the key issue: uncontrolled Chinese money laundering which is the primary reason for this capital exodus, and billions in Chinese "hot money" bidding up luxury US real estate into the stratosphere. We have discussed it extensively before, and here is bloomberg:
Some wealthy Chinese have come up with ways to evade the yearly $50,000 per-person limit on taking money out of the country so they can buy U.S. real estate, Yu said. Methods include laundering money through Macau casinos and cooking the books of import-export companies, he said.
“A lot of people over-invoice export proceeds, so they can park some money outside,” Ha Jiming, chief investment strategist for Goldman Sachs Group Inc.’s China investment management division, said at a Los Angeles conference in April.
Putting a bottom line on the capital outflows, according to the NAR, sales of U.S. houses to long-term foreign residents and non-resident buyers accounted for about 7 percent of the $1.2 trillion of existing-home transactions in just the first quarter of 2014.
So realistically, call it 10%, which means that mostly all cash foreign buyers are responsible for about $500 billion in US real estate all cash investment every year, of which anywhere between a third and a half is Chinese.
And there is your massive Chinese capital outflows in a nutshell, which incidentally is also the biggest threat facing China's economy now that it has begun devaluing its currency and yet is desperate to avoid the capital flight from its economy.
Which makes us wonder: if asked what presidents Xi and Obama really discussed in private last week, a safe bet is it wasn't computer hacking, nor artificial islands in the South China Sea, but how the US plans to curb the outflow of hot Chinese money into US real estate.
Which is a problem for the US, because thanks to Chinese capital flows, it means half a trillion dollars in capital flow right into the US economy via real estate every year. Call it 3% of GDP, roughly what the US growth rate should be. Xi is angry that this capital is leaving his economy; Obama is delighted.
How will this very critical issue be resolved remains to be seen but as we will note in a follow up post, China is already taking very aggressive steps to finally limit and halt altogether the epic money laundering that is sucking China's economy dry and is leading to such dramatic outcomes as 80% of all buyers in a major US metro-area being Chinese.
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I'm sure they will not vote socialist and respect the 2nd amendment. /sarc
It's California. They already threw out the second ammendment.
I go to a range in the peninsula, usually about 25% of the people there are asian, which is slightly higher than the overall population.
Take your meds...
Are we gonna get some more railroads outa this?
Wong Chow calls into work and says, “I no come work today, I really sick. Got headache, stomach ache and legs hurt, I no come work.”
The boss says, “You know something, Wong Chow, I really need you today. When I feel sick like you do, I go to my wife and tell her to give me sex. That makes everything better and I go to work. You try that.”
Two hours later Wong Chow calls again. “I do what you say and I feel great. I be at work soon. You got nice house.”
Thanks for the chuckle Bollixed.
I go to a range in the peninsula, usually about 25% of the people there are asian, which is slightly higher than the overall population.
Slavs and the Yellow Peril are “niggers, brutes and beasts”, in the eyes of Western Empirehttp://thesaker.is/slavs-and-the-yellow-peril-are-niggers-brutes-and-bea...
That article is Psyop. It was the "minorities" from the Iberian Penninsula that eventually subverted the Netherlands, then England. They were Jews, including Christopher Columbus. The Jews from Spain were special though; they descended from those that escaped the 70AD conquering of Jerusalem. That makes them from King Herod and his kin. Some say they're the Piso family (all US presidents come from this line with the most 'Royal' having always won), but they can be definitively linked to Sabbatean-Frankism, the Rothschilds, the Jesuits, and the Illuminati. Assuming this is all accurate, it makes the Sephardi Jews descendants of Esau, thus making them Edomites. That makes the Bible right about which Tribe will come to rule the world. By the way, it's the Tribe of Dan that's supposed to end the NWO. Dan lost his ancestral home in the ME (Seleucid State) to invaders (Scythians and Romans) and had to move north to various lands. They became the Vikings and Normans, but eventually lost their lands to the minorities again and were shipped to America throughout the 1600s.
The article debunks itself on the "yellow man." Over 600,000 whites dies in the Civil War, but were conveniently replaced by Chinese at a fraction of the cost as soon as the "war" was over. Both sides were bankrupt and didn't have the capital to build railroads before the war even started. Frankists planned the "Opium Wars" in advance of the Civil War to seamlessly replace the dead Whites, thus save tons of money. Lincoln was a Rothschild, son of AA Springs. Means the North was under Rothschild/Sabbatean-Frankist control, while the South was under Jesuit control, but both orginizations were controlled by the same family. Many say the Lincoln's death was a hoax. The NWO started about 500 years ago. Look at the "Nameless War," by Captain Ramsay, a previous member of the British Parliament. Colonization started with Spain, then moved to the Netherlands, then to England - all in waves before these folks move on to infect the next country and hide their tracks. "They" control all nations now. Hegelian Dialectic for us. Don't kill off the light-skinned Tribe of Dan folks, they're our last hope according to God. This is why the coordinated Jesuit/Doenmeh Muslim invasion into Blond Lands.
China's government was placed by Rothschild bankers and Putin's on the team too. Hegelian Dialectic.
if you live in Irvine, be nice to them. these chinese immigrants will soon be your bosses.
United States of China.
80%...........
Hey maybe they should rename it Chivine?
And Buena Park, CA (In Orange County, next to Irvine and Anaheim)...we have an English language website! /sarc
http://www.gombz.com/
Ask for Sam Whang...his team of 5 chineese speakers can assist. 80% of service dept volume is Chinese!
...no one beats the House (tagline for House of Imports)
Being priced out of our own market. Precious. Like a banana. Grown in a Republic.
are you sure that you want to be part of this mess? oh that's right you're leaving china, ha...
Last time a bunch a Asians bought a shit load of CA was in 1990 when the Japs bought Pebble Beach.
How'd that work out?
No so good.
It will be interesting to see how things turn out in Las Vegas with all of the cash buyers from asia
www.ViewLasVegasRealEstate.com
There are so many of them they can take over without firing a shot.
yes, it's all going according to plan
Vegas will reincarnate as "Barter Town".
Thank you Steve,
;-D
and there are no similarity btwn Japs and Chinese fyi
That's really nothing new. It's been that way there for years.
Every school in that town is 10/10 on the AP scale now.
Ooo Mao Ma
since the last forty night moar millionaires from r.e., ha, tyme to unwind that...
they make better neighbors than most of the scumbags around here. i know, dat's rayciss.
True dat!
I grew up in Southern white churches and currently attend a Chinese church with my wife, and by comparison, there are few divorces, people are better educated, among many other good things. They brought the best parts of their culture with them while leaving the worst parts behind.
NAR really helped USA by lobbying to allow all of that foreign cash into the country with no questions asked. Thanks Lawrence Yun.
Moar Loot. Reminds me of the millions in drug money that flowing into southern Florida before source of cash had to be documented. I guess the DOJ and AGs just look the other way.
When Corrupt Chinese Officials Flee, The U.S. Is A Top Destinationhttp://www.npr.org/sections/parallels/2015/06/23/416828057/when-corrupt-...
Time for diversity... Do they speak spanish? If not they better learn quick!
Meh, I'll take the Chinese. At least they work hard and respect the law. As likely as it is they will vote socialist the majority of America is already socialist whether they know it or not. Besides, I like their Beef Teriyaki.
Try watching your nbeighborhood turn in to a Chinatown where even the old Chinese residents can't stand the New Money Chicom Asshole come latelys. Learn Mandarin or GTFO is their MO.
I'm guessing you're talking about the princelings who are bringing millions in their parents' cash with them? Compared to my other post... yeah, these guys bring the worst of Chinese culture with them. I haven't heard of "learn Mandarin or GTFO" anywhere though; these kids are proud to show off their English.
I would say, let them blow all their cash here, so we can buy their failed investments for 20 cents on the dollar, and then send them back to their parents. These ghost-city builders are also the ones paying 5x real value or more for land, but I am hoping they are beyond their government's ability to bail them out when their investments tank in the next crash.
I'm with you on letting them be bag holders.
My "Learn Mandarin or GTFO" jab isn't that they can't speak the language, it's that if you now want to do business in any of the invaded communities you better be able to speak THEIR native tongue or they don't have time for you. Assimilation my ass...
Respect the law?
DYODD. They flaunt the "laws," make a mockery of them and game the system to the hilt. The scale is almost incomprehensible.
Westerners are stupid.
Everyone games the law. Minimum wage benefitters call for less working hours because now that the wage has increased they recieve less healthcare benefits. People abuse tax loopholes by storing money overseas. Large corporations pay off government officials to prop up their harmful business practices with bailouts.
That is why government is a problem. Power corrupts and absolute power corrupts absolutely. It doesn't matter what race you are.
The next "Dual Citizens".
LMFAO what overpriced crap they are buying.
Yellowlining? -- in reverse.
Lawrence Yun says don't worry about it round eyes.
Why worry about the worry, why worry about the problem, when the century city just had to be coming.
Lawrence Yun says don't worry about it round eyes.
the extent to which we have fucked ourselves astounds me. how many americans are running to shanghi to buy a fucking house? we sent them our jobs. we filled their pockets full. a young american family cant buy. the whole fucking game is insane.
There is one place you can still go, getting there is tricky, bound to be a long trip indeed, the timing is everything, pack light and go with friends, no one said life would be easy and it aint over till it's over. Fight the good fight, it's all we can do at this point.
It's the same fucking story in Vancouver/Hongcouver -- Chinese/Hong Kong residents buying up multi million dollar properties and driving up the market value and driving regular Canadians further and further out.
Buying at the top of the market... smart.
I read that they're already working on a wall to keep out the "Mongorians", whoever they are.
Yuan counterfeiting/fraud hot inflow = 100+% of US inflation as measured against purported GDP.
This is one further indicator that the US is actually flailing about in a ZIRP/ZGDP stagflation/liquidity nightmare of unprecedented depth and ferocity.
Without Chinese RE laundering GDP accounting in the US collapses and the recession/depression is starkly revealed in RE buildiners, new constructions, and gross sales.
Image what would have had to have been done since late 2013 if the inflow had not happened or been blocked by either US regulators or the Chi-coms.
The Fed doesn't have to print and inject $1T if the Chinese are going to onshore Yuan FX counterfeits and inject it into the real economy for them.
Money obtained fraudulently behaves differently than earned money.
This is why no one in power complains about all the hot money coming from China. They make bank off these criminals because they are willing to pay uneconomical prices.
Fencing stolen goods and laundering counterfeited/dirty money are never cheap.
Mee no likee.
I've lived in the Philippines and in Thailand. In both places you can "rent" (if necessary for 100 years) but cannot buy houses or land.
In America anyone can buy. But there are not many places, even if one has the money where an American can buy actual land or a house.
Strange.
You don't own the land in the US. You lease it from your county.
Stop paying property taxes and see how fast they will sell off your house.
A shooting range is a good way to make new friends. The Chinese and other asians will ally with whites when "things fall apart". You can also ask them where to find decent Szechuan food, no easy feat.
Ridiculous.
Clearly you DO NOT comprehend how Chinese think.
Everytime I went up to look at my land that I built my off grid cabin on all the local would start target shooting just about the time that I got out of my truck.
I took it as though they were trying to scare me off. You know, like I was going to think, no way I'm sticking around here.
Shortly after I bought that land though the shooting stopped. Just about the same time that I started target shooting there too.
Funny how I go there on weekends now hoping everyone is target shooting.
I wonder if they know that? :)~
Wait until they find out their investment in american real estate is at a huge loss.
There's already talk of a 20%+ tax on these foreign-owned properties.
Currently in the market in Irvine, myself. Not finding anything I like, just poorly-built, overpriced, and way-too-cramped housing which I consider to be crap.
I have yet to find quality or value in Irvine - and I have looked. Restaurants are awesome, however.
YMMV
You should see the traffic nightmare every morning when commuting on the 405 through Irvine; any place where the road bends EVERYBODY slams on the brakes. It is a critical mass of commuting Stoopids.
Big thing fall over when there's no foundation. What has been missing in this so called recovery is first time buyers . .Hmm, everyone else runs for bigger/better . . more, more, more (as the song goes) but, look behind you and you'll see you are alone on the top. Once again my handle says it . . .
This process is really very simple. China owes $1+ trillion of US debt and USDs and in the end is going to exchange it for California real estate. Period. That's it. The US repays its debt to China by selling controlling interest in California. Makes sense as California has good access to China via air/sea routes and already a firmly established cultural base (ranging from SF through LA). As the Chinese become more entrenched in California, they will begin to take control of the political system via pushing their agenda through the state legislation. And slowly but surely, bit by bit, little by little, California will eventually be acquired by the Chinese, either formally or via proxy, and one day the SFB's in Washington will finally realize they no longer control major Pacific assets, collateral, technology, agricultural production (even with the draught), etc.
The process is moving forward and quickly and not just associated with real estate. In the UC college system, both UC Irvine and UC San Diego are both now heavily populated by Asian students with a large percentage Chinese. Same problem with real estate is occuring with the UC schools as the dip shits running the UC system have sold their souls to the hot money from China, favoring familes that can pay big ticket tuitions at the expense of what's left of the middle class in the state. Translation, foreign and out of state students get preference as they pay 2 to 3x tuition at the expense of in state students. I speak from experience as my son along with a number of his friends were closed out of UC Berkelely, UCLA, UC Davis, UCSD, etc. again and again.
It's absolutely embarrasing right now watching the so called "leaders" in the state of California sell out to the hot money, killing the core middle class in the state. The state is dependent on real estate property taxes tagged to cost of purchase so please buy at inflated prices as this brings in more tax receipts. In order to properly fund the UC schools, they need more foreign and out of state students so again and even if your test scores aren't up to snuff, we'll accept you with the higher tuition. I could go on and on with my rant but I'm watching and living this real time in the San Diego area as the heart and soul of the state is being ripped to shreads by clueless leaders that sold their souls years ago. BTW, most of the Chinese real estate buying is occuring in the Bay Area (SF through SJ) and the LA basin but it will only be a matter of time before they discover other locals including San Diego, the Central Coast, etc.
Trust me when I say that the Chinese province of California (by 2050) is going to look a lot different than the state of California of the 1990's. Call it what you want (colonization, gentrification, annexiation by force etc.) but its hard to see how this trend is going to slow down any time soon. Not when the world's CBs and specifically the Fed have made the decision to sacrafice the middle class and create two classes. The super wealthy and the entitlement crowd (paid off to follow orders).
As Ceaser stated in the movie Gladiator when the final battle was fought and won, "So much for the glory of Rome". About the only thing I can say about California right now is the same, "So much for the glory of California and what once was". Barring a major change in political/economic direction (as well as enviornmental), the state could very well become the mother of all battle grounds.
+1000
All true.
Two questions
Whay in the fuck would anyone want to pay any amount of money to the UC system or attend any of the screwed up universities your mention?
Why in the Hell don't you leave California because as you say its all over.
Question #1, not sure as my son attends the University of Colorado in Boulder (as we took a look at the UC schools and were not impressed).
Qustion #2, transition plan already in place as we sold our home in north San Diego in Q3 2014 (for countless reasons which included access to water, home costs, state taxes, etc.). Just need a couple/three years to clean-up a number of business matters and complete the exit. Our recon is already underway in states ranging from the Carolinas to Texas to New Mexico and others as we're attempting to stay ahead of the real wave of population relocation that will occur over the next decade. Any suggestions on where to land would be appreciated but plenty of space, access to water/sun (renewable energy), etc. are on the top of our list.
Delivered, I would seriously take a few months and travel overseas. Right now your dollar will go a long way. I went through south america and found a few places that I liked but right now I'm in Malaysia and it ticks a lot of boxes. Places like Penang are first world with third world prices. The food is sensational and most people speak english (manglsh). Also send your kid to a great overseas university and he'll learn a new language and the tuition is almost free and in quite a few countries world class.
Texas, Florida and Tennesee no state tax. Mid to North Florida is best of these three but please do not come unless you support gun rights and vote small government. Try Ocala, Homosassa perhaps lots of land and water around. North Carolina has turned left and SC is not as friendly as Fl. I have lived in all including Calif.
Dupe
Cal and UCLA are regularly ranked among the best universities in the country. And not just public schools, all schools. UC Santa Barbara, San Diego and Irvine are right behind them.
Check yourself.
Over priced indoctrination in bullshit does not a finacial future make.
Learn to think , the US educational system fell apart at all levels years ago. check it.
Addendum:
To quote/paraphrase another ZHer, it amazes me that the Chinese think their laundered, dirty money will be a safe in a country they've been ripping off for the past 25 years.
This was all planned and executed by the Tribe:
Ted Kennedy is not responsible for the Immigration Act of 1965
ASIANS FORECAST TO OVERTAKE HISPANICS AS LARGEST IMMIGRANT GROUP BY 2065 The Financial Times (LONDON) September 28, 2015
Asian migrants to propel US population growth
All over California, and elsewhere, birth tourism, primarily Chinese, almost exclusively Asian.
'Birth Tourism' Booming In Bay Area
Couple ordered to pay $10 million for selling trade secrets to Chinese 2015/09/23
White man, 62, sits in jail in San Francisco for spray painting, "NO MORE CHINESE" charged with Hate Crimes
$155,000 Bail Set in Anti-Chinese Graffiti Case By Vivian Ho 2015-09-11
Eateries in Chinese town hold dog and cat meat festival
Thousands of dogs and cats slaughtered at China festival
Sellers kept the dogs dozens to a cage before electrocuting and skinned them alive, before serving them with lychee
Soaring Vancouver home prices spur anger toward foreign buyers
Funny.
They don't seem to figure out that Hispanics make up more than 50% of the Population and Births of many a City from Texas westward.
Asians were roughly 4% of the Nation's population.
Someone's not counting...
TO Shadow 1275, re: I like their beef teriyaki.
Really? Last I checked, beef teriyaki was Japanese. A bit of a distinction if you are Chinese or Japanese.
Stupid Murikans eat dominios beef teriyaki pizza and dine Itailian . Dim sum on that for a moment.
A while ago many wealthy Japanese loaded up on real estate in Hawaii.
How did that work out?
And all those Chinese investors buying into the hot real estate of ghost cities. LOL, from one bad investment to another.
Hawaii and California are bad investments because of government, were it not for government they would be great.
My Dad bought a condo in Hawaii in the 1980s for $35k (hard to believe, yes!) and sold it one year later to some Japanese for $165k.
Then, the 1980s RE crash occurred and the condo was valued at nearly $35k again.
Back in the 1980s, the fed did not bail out all the bankers and also over 700 financial criminals and bakers were indicted by AGs and the DOJ ... as opposed to this time when zero have been indicted and the Fed has been propping up house prices and RE in general. So there has been no correction ... yet.
I sold my house in south OC did well. Thank you China.
I have no problem with legit cash coming in but how does a local government official there, for example, who gets an 'official' $645/month salary buy a $2.5million house in Cali?
It's paradoxical!
Yeah but skip forward 20 years and just think of the meld with the womens. Chinese duke it out with the illegal latins and the result? Mexanese with big firm boobs, nice asses and that is it for Ms. USA all Mexanese winners for years to come. Awesome.
"Many purchase houses for their children to attend high school or college, she said."
Southern California Lamborghini dealers are licking their chops.
And you bought all that Chinese shit, even killed your dog.
Buy American, yes you can.
Actually, it is hard to buy Americano. Not much to choose from IF anything at all. A pity.
Actually, it is hard to buy Americano. Not much to choose from IF anything at all. A pity.
All funny-money foreign carpetbaggers must have their property declared the proceeds of fraud and their immigration status up to and including citizenship voided after the rebellion and the end of the Fed.
The Chinese know how to play the game.
In Auckland, New Zealand the same situation has arisen. The government has put in place a number of measures to stop this dirty money flowing into real estate, one of which is that foreign purchasers must have a New Zealand bank account and tax number. Other measures are to follow,already Chinese purchases are dropping back. Australia has also brought in measures. I guess being smaller countries we have the capacity to hold our governments to more account. New Zealanders and Australians are pissed off that foreign,dirty money is destroying our countries and making life impossible for the young generation,the older generation.
It's a good thing to, because if they were back home the U.S. governemnt would be blowing them to pieces if they lived near industrial sites that manufacture chemicals...
But if I were the chink ex-pat living in Irvine I wouldn't be waving that American flag too much right about now!
And if you plan on visiting the folks back home make sure you don't sign anything that will enforce that you can't leave the U.S. in the event your "new host" wants to go to war with your Mom, Dad, sister and brother back home!
I wonder how Americanos are going to react when most of the real estate in USA is finally owned by Chinese, Indians and other Asians and Asian-Americanos. As Asian groups in USA increase, it will not naturally be a win-win situation. Yes, we Asians have brought a lot to USA, but many Asians, namely Chinese and (I'll admit) my fellow Indians in particular, are NOT good at mixing but instead we tend to segregate. (Take a look at the India-towns and the China mega-cities that exist in USA today. They are NOT a sign of multiculturalism but a sign of segregation.)
Today in USA Chinese and Indians own A LOT. We own row upon row of apartment blocks, shopping malls, companies, etc. Yes, we do hire all sorts of people but for the most part we tend to hire within our own communities
When we used to live in NJ, it was not uncommon to go do business with entirely Chinese- or Indian-owned businesses (and I am NOT talking about restaurants or grocery stores). You see deekras (dears), once a minority becomes big enough it acts like the majority with all its discrimnatory attitudes. Also as the community gets bigger and bigger the urgency to blend into the fabric of the host nation goes away.
In the long run, unless this attitude changes, it will not be a good thing, not good for the minority communities and not good for the nation as a whole. People need to learn to mix with each other, hire each other, live with each other, learn with each other, and the excuse of the others "not knowing our language" should not be used.
Unfortunately, I see another Canada-type situation in the making. Canada has greatly reduced its immigrant intake for just this reason. Inclusion should be the rule but exclusion will be the norm. Toba!
It is human nature to stick with your own kind,possibly an inbuilt biological program for the survival of a group. I saw this very clearly at a kindergarten when my daughter was 3. The different races teamed up, they all spoke English,no one directed nor encouraged these groupings.
if you are asian you are in "or mexican or a meth manufacturing felon"
.
if you are my moms son lets not talk about it
.
ask the cops its their job
Try coming to Sydney or Melbourne, Australia.
Q: Newly built home?
A: Chinese buyer.
Its the same thing in my suburb of Chicago, all Chinese buyers, they don't even speak english! When you are allowed to print money what do you think is going to happen, this is how you take over a country without using one bullet or bomb, the Chinese are in for the long haul, forget about a black president in 4 years it might just be Chinese....
First the world experienced the Ugly American, now comes the Ugly Chinese.
As the tsunami of Saudi Mercan dollah toilet paper washes up in USSA there are still some good real estate opportunities for paupered Mercans through Pentacon Kill Industries Realty in "liberated" Iraq and Afghanistan and Libya.
They emigrates with wealth (got) from origin country. And they bought the overpriced "bubbled" house in US?
Well.. good to knows, they're about being transformed, into present day "kardhasian ass" generation soon.
Nice.. (karma's is a bitch, eh?)
Please and welcome!
We need more people who aren't seeking socialized perks. I'm happy to have people who have IQs north of 100, don't spend their time claiming victimhood, and actually have skills.