Asians stay on track in any economy

NEW -> Contingent Buyer Assistance Program
because we hide money in our mattress. hahahhaaaaa





i seen a few asian people who has gone into foreclosure. it was because they bought too high and i can't refi due to the house value dropping and the credit crunch.
 
Rasist? You took the question there. I'm 1/2 Asian. So may I ask why you're back on this thread? If you hurry you can still buy Vaseline on sale.
 
<p>And I'm all white! It's still rasist!</p>

<p>OP posted:</p>

<p><strong><em>"Does anyone know why asian households don't end up in forclosure? "</em></strong></p>

<p>Then let me try another question that's just as offensive, and in this case, TRUE:</p>

<p><em>"Why are asians more prone to be gambling degenerates?"</em></p>

<p><em><a href="http://asianweek.com/2001_04_06/bay1_gambling.html">http://asianweek.com/2001_04_06/bay1_gambling.html</a></em></p>

<p><a href="http://www.metroactive.com/papers/metro/08.01.96/cover/gambling-9631.html">http://www.metroactive.com/papers/metro/08.01.96/cover/gambling-9631.html</a></p>

<p><a href="http://www.asian-nation.org/gambling.shtml">http://www.asian-nation.org/gambling.shtml</a></p>

<p>Go check out the demographics at Commerce, the Bike, HG, Hustler, or Hollywood park and get back to me.</p>

<p>Moronic.</p>
 
<p>asians in general love to gamble. One of my friends went to Vegas after xmas last year, and he told me that he has never seen so many asians in one place in any u.s. city. It is my understand that it is pure cultural. </p>

<p>Just because it is politically incorrect doesn't mean it is not true.</p>
 
<p>That's the problem - in the absence of evidence, I don't know if it is or isn't true.</p>

<p>And there is no evidence. None. Zero. Which makes it either stupid or racist.</p>

<p>I know OP to be asian, so I don't think it's racist. I'm pretty far from the PC crowd, but this thread is IMO way out of bounds. </p>

<p>Bluemoon,</p>

<p>I think my temper is fine. A few posters on this thread need a lesson in "Like School on Saturday".</p>

<p>No class.</p>

<p><img alt="" src="http://www.animationartgallery.com/images/osc/oscbb20.jpg" /></p>
 
No_vas, I think you are over-reacting just a bit for some reason.





Is the thread racist? Yes. Is it hateful? no way.





I can tell you though that there will be many Asians in foreclosure, especially Filipinos. My wife is Filipina and her family's financial record is a broken one. The women are all nurses or in health care. the husbands are all mechanics. They all have a primary residence and a rental property that is "neg amming". The rental is almost always rented out to family members for cash.





Why is it we can joke about anything but race? What is race? My God there are so many freaking mutts in America that American will be considered its own race in 10 years. There is nothing inherently wrong or hateful about associating certain races with certain behaviors. Using slurs, and other such denigrating nonsense is wrong and should be condemned.





But saying white people love racing cars, cookin' hot dogs and drinking beer, or Japanese men have funky haircuts and wear man-purses and love sushi, or blacks (I say blacks because most blacks in America have never even been to Africa) are more muscular and athletic, is not hate speech. It is an observation. People of like race hang out together. People who hang out together tend to act the same way and like the same things. Am I an evil racist because I assume that when I go to Red Mango or Pink Berry, that I will be the only white person there? No, I am not.





That said, blue moon is not correct. There are many Asians that will go into foreclosure. Why? Because they hung out with other Asians, whites, blacks, or mutts that ALSO are going into foreclosure. Bad company corrupts good character. You become who you hang out with, listen to, or watch on TV. It just so happens that most races on this planet live in close proximity and interact with people of the same race. If your Mom and Dad are doctors, you will probably become a doctor regardless of race. If your parents smoke, you will likely become a smoker regardless of race. This is why Americans of all races tend to spend more money while the Chinese living in China or just moved to the USA tend to save their money.





I'm so tired of living in a world where everyone is supposed to be equal. We are NOT equal. We should all be TREATED equally and given EQUAL chances, but that doesn't mean we are equal. This is why we have teen suicides, and anorexia, depression and self-esteem issues. It's because the main stream media, instead of embracing our differences, forces the political correctness ideology down the wrong pipe. We all have our own gift, our own place in this crazy world. Our differences should be noticed, highlighted and enjoyed.
 
I myself am an Asian, Korean to be specific. When I moved to Irvine from South Korea in early '06, I was surprised to realize that I can't afford a decent house with my wage, which is quite a bit higher than OC median household income. I just rented thinking that all the Irvine residents should be millionaires.



I was also embarrassed seeing lots of ad about 1% interest loan in local Korean language newspapers. Why? I thought it was a scam.



Last December, my wife started to ask me to buy a house again. So I started to research housing situation, loan system.... and I found IHB and other housing bubble blogs. Finally, I could see the whole picture.



Well, I can't say how other Asian communities behaved during the bubble but I think there should be a lot of Koreans who speculated during the that time period. It gives me a chill thinking about all the crazy ads promoting 1% interest loans. Ouch.
 
You just brought up the language barrier factor. I know of a lot of asians and iranians who were misled when buying or refinancing. It can be very hard to read English loan documents if your primary language is not English. Since math is the universal language, all the foreign speaking borrowers hear was <strong>1 %!!!!!!!!</strong>
 
lendingmaestro/



Language barrier issue is true and false at the same time. Yes, it will be hard for non-English speakers to understand English loan documents. Having said that, I assume most of the borrowers who got sucked into Option ARM could speak English. No?



Also, if you can *really* do math, you should be able to see that 1% interest doesn't make sense. That is why I thought 1% teaser rate ads should be a scam and didn't bother to look into it.
 
Not necessarily well, Oxymon. People will try to take advantage of others who speak different languages. Americans in Mexico. Britains in France. Saudi's in Iran. I've done loans where I had to use a translator. I've done three loans in Rosemead, CA and surprise, I had to use a Korean translator.
 
Very true, lendingmaestro. When you need a Korean translator next time, let me know. I can use some extra income for my future downpayment. ;)
 
speaking different languages is a barrier, but only in communication.



in this situation or any other for that matter, you really have to ASK THE RIGHT QUESTIONS, and really do homework on

the answers that you get. if you dont, you risk getting into "situations" you didnt expect or cannot handle.

HECK, you might not even care.



So did you guys catch the 60 minutes episode? There's a thread here on it.

The couple on there was white and spoke only ENGLISH?
 
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