Asian Americans bought one out of four homes sold in California in 2011, reports Asian Fortune, quoting statistics from the California Association of Real Estate.
Cities such as Houston, New York, Seattle and Washington, DC report the growing influence of Asian Americans on the real estate market as well.
Many see it as a good long term investment.
“It’s all economics,” said Zhen Xia of Maryland. “Investing – like stock – except in a real asset.”
Others admit they bought their home with the help and encouragement of their parents.
“I wouldn’t have done it without their encouragement and obviously their help, since I didn’t have a real job or a huge savings account,” said Deborah Kwan. “You can always get money back from your home. You can’t sell your degree, but you can always rent or sell property.”
The recent housing downturn reminded people that home ownership doesn’t come without a risk.
You can read more about what motivates Asian Americans to buy a home in Asian Fortune.
RE: Real Estate as good as gold for some Asian Americans: That’s generally good for the economy, here is another benefit from immigration.