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I would also argue a lot of them have support from parents/relatives for the down payment to not require 350k income to get a loan.

This is very interesting and informative. Thanks for the details.

You really think local people would buy 1m+ for a condo if it wasn’t for FCB? Irvine is inland, not coastal.

as long as it's not foreign buyers, i don't care.

simple. tax foreign ownership so high that it makes zero sense for foreign owners to have RE in US. Irvine will go down so fast that it won't even be funny.

I’m not going to stand here saying the fed is perfect. But at the same time, we need to recognize their job is difficult. Hindsight is always 20/20. I think they did a decent job taking inflation from 9% to now 3%. I do think they are doing their best and with their current approach, I’m not as...

We need to raise rates, not lower.

rates have been shooting up and I would argue we might need to increase rates if cpi keeps on coming in hot. Nowhere near decreasing rates. It’s either stay as is or it goes up at this point. So with new construction you have to wait 6+ months for the home to be built assuming no delays to...

because their priority list is closed?

you're right but that wasn't my point. point is there will always be more people than homes. even with the 2008 recession, inventory nationwide rose to 3m? It's now 1m I think? So using number of individuals in an area to show if there exists demand or not is not a good representation of market...

but how many of those 1.1million buyers are actually buying with rates at this high?

You lose the deposit

what does 100k for building cost cover? Foundation? lol

I think I've been the only one saying that we weren't near rate cuts any time soon in 2023. My gut tells me inflation is way too sticky to lower rates anytime soon. I'll be surprised if we even see any cut this year unless a black swan event occurs.

there are “underground” banks in China that help facilitate these types of transactions

4% buyers commission for a 5m home.

from my experience I see Koreans actually being primary residence owners rather than investors

Arent you better off getting umbrella insurance instead of an LLC? Unless you have many rental properties or a big unit where umbrella wouldn’t be able to cover

I’ve mentioned it before but shea isn’t about maximizing profits but rather focus on selling a great product. They did the same for Teresina.

This change makes it more difficult for first time buyers to purchase a house. Sellers are the ones benefiting most from this.