Buy a house, get a visa

[Irvinecommuter]

Then you know nothing about the mentality of Asian immigrants...especially rich ones.  The schools are the only reason why a rich person in Taiwan or Korea would send their kids to the US.

I'd be willing to bet that I know a LOT more super rich Chindians than you do, and I'd be willing to bet you if I asked them how much they covet California Public Schools, they'd agree with my general opinion and laugh at yours.

I agree with both of you guys.  Indie is certainly right about the super-rich.  We know some super rich Taiwanese, and they live in Crystal Cove.  They think about Irvine the same way white people in PV think about Torrance.  No Irvine public school is going to convince them to pay $1M for a 4 bed home sitting on a motorcourt with the back wall of the neighbors home 10 feet away. But maybe that is the problem --- the definition of rich.  The FCB's concerned about public schools (and no doubt many are) are probably not at all "rich", just upper middle class like most of newer* Irvine.  They may have a lot of "cash" to put down --- but enough cash for an Irvine home certainly does not = rich.

*If your address includes the words Ridge or Shady and you have no common walls, you are exempt from the middle class tag.

I stand corrected.  The super-rich do not care about schools in the US...they send their kids to boarding schools in Europe or East Coast.  I am referring to upper-middle class who have the money to come to the US and buy a house.  For those people, public schools are super important.

 

[momopi]

The 4 Asian Tigers and Japan have low birth rates, which leads to decline in emigration.  Like France, many Asian countries have a tendency to concentrate economic activity/development near its political centers, i.e. Tokyo in Japan, Taipei in Taiwan, KL in Malaysia, Seoul in South Korea, Manila (Makati) in Philippines, and so on.  HK & Singapore are city states and have geographic restrictions.

When economic activity is concentrated in few major cities, young people migrate to those urban centers for education and job opportunities.  The cost of living and housing tends to be higher in urban centers.  The greater concentration of wealth means it?s harder for young couples starting out to afford a family, so thy delay marriage until their 30?s and have 1 kid.  Young women today prefer to seek education and economic opportunities instead of early marriage and child rearing. 

For Taiwan, the island actually has a lot of flat land to the western side, but economic activities (and jobs) are concentrated in Taipei, Hsinchu, Taichung, and Kaoshiung.  Young people leave the countryside and smaller towns, leaving behind their parents and empty homes.  TW has pop of 24 million, but there are some 1 million empty homes ? we call it ?raising mosquitos? in empty houses with no people.  My ex-GF?s bother in law works for the local government in Yilan, a rural coastal area in NE Taiwan, and he pays NT 600 ($20 USD) per month to rent a ?subsidized? old 3 bed condo.  The condo building has 12 units and only 2 are occupied.  The local government thought it?d be better to have someone living there than to leave it empty.

Recently, Taiwan has opened its real estate market for investment by Mainland Chinese, and has started accepting Mainland Chinese students in Taiwan colleges.  Because of TW?s low birth rate, colleges are finding it hard to attract students, so they need to import students from China to make up the eventual shortfall.  It?s uncertain at this time if we?d see significant immigration from China to TW in the near term.  At present there are 1-2 million Taiwanese and half million South Koreans in China seeking economic opportunities, which also contributes to the decline in immigrants to the US. 

Although China has made great leaps in economic development in recent years, the average income is still quite low by our standards.  The top 10% in China earns an average of 139,000 RMB/year, which is about $22,000 USD.  But China has 1.3 billion people, and even a small % of wealthy people adds up to a lot.  The RE bubble in China is quite high and many are looking for safer investments elsewhere.  Since our RE bubble has popped, I guess that makes our RE a safer investment?

 

[irvinehomeshopper]

Both Cupertino and Mission San Jose Fremont are pricey for a single family home and a brand new home is totally out of the question.  The few new homes on the market are well in the high $2m. The northern CA cities issue a few new home permits and local sentiment is toward the anti-tract movement and against mcmansionization. Sellers are asking for the sky high prices for their new homes.

Irvine on the other hand has new homes at a much lower price range even though the homes are attached. The goal is to get the parachute kids to a free public school and the home is really secondary. Lambert Ranch is not a TIC project therefore I believe the builder did not squeeze the life and soul out of the houses. I plan on sending more than several parachute kids to Northwood. The going rate is $250k per head for room and board.

This is a lucrative business and helps pay for a mortgage. Successful Chinese business men have several boys despite of China's one child law.  The modern day paper sons are clandestine and unlawful. These children can't legally get an education in China. Without legal schooling status these children even with the best home schooling can't meet the college admission qualification. Rich dads are sending the boys to study abroad and Irvine's good schools and safety are ideal for parachute kids with absent supervision.

 

[IndieDev]

Indie came up with the term chindian. I felt left out so came up with the term korchindian.

They call me an egg, and I don't feel offended at all.  Kind of honored, actually.

Well...you do have yellow fever

Maybe true, and that is a common tag because of who I ended up settling with.  However, my fever (as with most gentlemen I know) extended to white, brown, black and so on in my youth.  Never was a target for a certain culture, just anyone and everyone.  Just happened to work out that I started dating this one at the same time I was in the "get married" phase.  But it was certainly not because she was Asian by any stretch. In reality, I hardly could hold chopsticks when we started dating, and bought a pair of starter ones and used to practice with them in my studio apartment so I would impress her.  I was 27 at the time.  I had never even heard of kpop back then, and can actually remember my (future) wife sending me an email with a link to Lee Hyori and FinKL, asking what I thought of it and "do you think these girls are hot"?.  I'm like "wtf is this, and what have I been doing looking at crap like Britney Spears all these years!" (this was 1999, mind you).

So of course, over the last 12 years my wife has certainly shaped my view of things, no doubt.  But that does not mean I don't still think Rihanna is hot.

I'm not afraid to say it, I have mad yellow fever, and have had it ever since I saw Tamlyn Tomita in the Karate Kid 2. Chinese, Korean, Japanese, you name it, I wanted it. I dated white, latina, and even mixed asian/white throughout college but always wanted my women yellow.

Asian women are just sexy. Long straight black hair, porcelain skin, petite bodies, what's not to like?

 

[irvinehomeowner]

My neighbors from Singapore were parachute kids... only saw the dad a few times a year, the mom never.

Once the oldest graduated from UCI  (I know... not an Ivy League) and the youngest graduated from high school... they sold the house... good timing too... in low, out high.

 

[irvinehomeshopper]

The girls are up for adoption. Never the boys. We see many middle age American couples with a chinese girl at the malls. The depiction of Lily and Cam in Modern Family is quite good. The lucky girls were spared while the unlucky ones end in the dumpster. Sad!

This is a lucrative business and helps pay for a mortgage. Successful Chinese business men have several boys despite of China's one child law.  The modern day paper sons are clandestine and unlawful. These children can't legally get an education in China. Without legal schooling status these children even with the best home schooling can't meet the college admission qualification. Rich dads are sending the boys to study abroad and Irvine's good schools and safety are ideal for parachute kids with absent supervision.

What happens if they have a daugther while trying for those extra sons?  Actually, don't answer that. 

 

[qwerty]

Asian women are just sexy. Long straight black hair, porcelain skin, petite bodies, what's not to like?

Ill tell you what is not to like. Flat a$$es.  Dont get me wrong, asian women are beautiful, my wife is asian.  But like the song says, 36-24-36, only if she is 5'3" - if my wife had a J-Lo ass i would be in heaven.

 

[momopi]

I'm not afraid to say it, I have mad yellow fever, and have had it ever since I saw Tamlyn Tomita in the Karate Kid 2. Chinese, Korean, Japanese, you name it, I wanted it. I dated white, latina, and even mixed asian/white throughout college but always wanted my women yellow.
Asian women are just sexy. Long straight black hair, porcelain skin, petite bodies, what's not to like?

You might enjoy this TV show:

[youtube]http://www.youtube.com/watch?v=vVrsuYyQLXU[/youtube]


Full eps avail on show's web site:http://fcwr.jstv.com/

 

[IndieDev]

This is a lucrative business and helps pay for a mortgage. Successful Chinese business men have several boys despite of China's one child law.  The modern day paper sons are clandestine and unlawful. These children can't legally get an education in China. Without legal schooling status these children even with the best home schooling can't meet the college admission qualification. Rich dads are sending the boys to study abroad and Irvine's good schools and safety are ideal for parachute kids with absent supervision.

What happens if they have a daugther while trying for those extra sons?  Actually, don't answer that.

 

[IndieDev]

I'm not afraid to say it, I have mad yellow fever, and have had it ever since I saw Tamlyn Tomita in the Karate Kid 2. Chinese, Korean, Japanese, you name it, I wanted it. I dated white, latina, and even mixed asian/white throughout college but always wanted my women yellow.
Asian women are just sexy. Long straight black hair, porcelain skin, petite bodies, what's not to like?

You might enjoy this TV show:

Full eps avail on show's web site:http://fcwr.jstv.com/

I have to say, that guys Chinese is impeccable.

 

[panda]

A little off topic,

Yesterday I was waiting to make an international wire transfer at Bank of America and to kill time I picked up the bank's copy of the millionaire next door, a book I've haven't read for more than 10 years.

On page 13. the title was "How to determine if you're wealth? The author had an interesting formula to determine if you are a Wealthy, Average, or Not Wealthy.

You take your age and multiply it to your annual household income. Divide that number by 10. If your networth is double this number or greater.. you are considered to be wealthy. You are average compared to your peers with the same age and income if your number is around the same. You are not wealthy if your networth is only half this number. Keep in mind that the equity in your home is not counted in this networth calculation.

For example, Let's take an median age of Irvine of 34 call him Kirk. Let's say he is a senior management position and makes $150,000 a year.

$150,000 x 34 = 5,100,000 divide by 10 = $510,000 networth puts Kirk as an average accumulator of wealth among others who make $150,000/year in his age group

If Kirk has a networth of $1,020,000 or greater, he is considered to be wealthy as Thomas Stanley would call it, Prodigious accumulator of wealth.

If Kirk has a networth of only $255,000 he is not weathly. (Under accumulator of wealth)

Then you know nothing about the mentality of Asian immigrants...especially rich ones.  The schools are the only reason why a rich person in Taiwan or Korea would send their kids to the US.

I'd be willing to bet that I know a LOT more super rich Chindians than you do, and I'd be willing to bet you if I asked them how much they covet California Public Schools, they'd agree with my general opinion and laugh at yours.

I agree with both of you guys.  Indie is certainly right about the super-rich.  We know some super rich Taiwanese, and they live in Crystal Cove.  They think about Irvine the same way white people in PV think about Torrance.  No Irvine public school is going to convince them to pay $1M for a 4 bed home sitting on a motorcourt with the back wall of the neighbors home 10 feet away. But maybe that is the problem --- the definition of rich.  The FCB's concerned about public schools (and no doubt many are) are probably not at all "rich", just upper middle class like most of newer* Irvine.  They may have a lot of "cash" to put down --- but enough cash for an Irvine home certainly does not = rich.

*If your address includes the words Ridge or Shady and you have no common walls, you are exempt from the middle class tag.

 

[rkp]

A little off topic,

Yesterday I was waiting to make an international wire transfer at Bank of America and to kill time I picked up the bank's copy of the millionaire next door, a book I've haven't read for more than 10 years.

On page 13. the title was "How to determine if you're wealth? The author had an interesting formula to determine if you are a Wealthy, Average, or Not Wealthy.

You take your age and multiply it to your annual household income. Divide that number by 10. If your networth is double this number or greater.. you are considered to be wealthy. You are average compared to your peers with the same age and income if your number is around the same. You are not wealthy if your networth is only half this number. Keep in mind that the equity in your home is not counted in this networth calculation.

For example, Let's take an median age of Irvine of 34 call him Kirk. Let's say he is a senior management position and makes $150,000 a year.

$150,000 x 34 = 5,100,000 divide by 10 = $510,000 networth puts Kirk as an average accumulator of wealth among others who make $150,000/year in his age group

If Kirk has a networth of $1,020,000 or greater, he is considered to be wealthy as Thomas Stanley would call it, Prodigious accumulator of wealth.

If Kirk has a networth of only $255,000 he is not weathly. (Under accumulator of wealth)

Then you know nothing about the mentality of Asian immigrants...especially rich ones.  The schools are the only reason why a rich person in Taiwan or Korea would send their kids to the US.

I'd be willing to bet that I know a LOT more super rich Chindians than you do, and I'd be willing to bet you if I asked them how much they covet California Public Schools, they'd agree with my general opinion and laugh at yours.

I agree with both of you guys.  Indie is certainly right about the super-rich.  We know some super rich Taiwanese, and they live in Crystal Cove.  They think about Irvine the same way white people in PV think about Torrance.  No Irvine public school is going to convince them to pay $1M for a 4 bed home sitting on a motorcourt with the back wall of the neighbors home 10 feet away. But maybe that is the problem --- the definition of rich.  The FCB's concerned about public schools (and no doubt many are) are probably not at all "rich", just upper middle class like most of newer* Irvine.  They may have a lot of "cash" to put down --- but enough cash for an Irvine home certainly does not = rich.

*If your address includes the words Ridge or Shady and you have no common walls, you are exempt from the middle class tag.

That seems very silly.  I get that the point they are trying to make is about being a saver vs spender and hence the heavy reliance on income.  But reality is that if you have $250K free and clear and you are making $150K at 34, you are no way "Not Wealthy".  On the same note, if you make $10 bucks an hour at age 34 and have $50K saved up, you arent wealthy either.

 

[irvinehomeshopper]

I think Mr. pat is that guy speaking fluent Mandarin. Chinese girls love that. As China becomes more westernized dating a caucasian is a high status thing. He posts Kpops a lot may be he is with a Korean girl.

 

[kalbi]

here you go Pat Star:
http://k.daum.net/qna/view.html?qid=2iDAv

this page even provides list of irvine elementary schools along with the contact info and discusses estimate monthly living expenses.

 

[kalbi]

some more:
http://k.daum.net/qna/view.html?qid=0BU2m
http://cafe.naver.com/talktalkus.cafe?iframe_url=/ArticleRead.nhn%3Farticleid=892&
http://cafe.naver.com/naraeducation.cafe?iframe_url=/ArticleRead.nhn%3Farticleid=1313&
http://cafe.naver.com/irvineguide.cafe?iframe_url=/ArticleRead.nhn%3Farticleid=1898&

 

[momopi]

China?s hit and run penalties are more severe than the US.  The punishment for hit and run is revocation of your driver?s license, possible lifetime ban on obtaining a driver?s license, fines, and possible jail sentence up to 15 years.  If you killed someone and the court decides that it?s criminal homicide, the driver can get the death penalty.  So some drivers try to run away ASAP after causing a serious accident.

There is very little protection for good Samaritans in China.  Those who stop to help someone in need are sometimes sued by the injured person and end up paying fines.  In these cases the injured person is often part of a scam.  Chinese courts are often unsympathetic to good Samaritans trying to provide emergency aid, their mentality is that you?re unqualified to provide medical attention, and should have dialed 110 or 120 (China?s 911) instead.  In 2006, a good Samaritan named Peng Yu tried to help an elderly women who fell, and was sued by her for causing her to fall.  The court ruled in favor of the elderly women, stating that Mr. Peng Yu would not have stopped to help unless if he caused the accident.

Drivers in China regard traffic rules as loose guidelines.  Bus drivers have been known to ?nudge? tourists off the road so they can pass.  Many tourist areas do not have safety rails.  You?re expected to watch out for yourself, and if you should fall off the cliff or out of a window, that?s your fault.  The lack of (or lax) safety & regulation enforcement is like the ?wild west? in some ways.  In 2007, I was cooking breakfast in Tianjing and put some butter into a frying pan.  The butter turned into a black puddle of liquid substance and evaporated quickly (!).  Needless to say I did not eat the butter.  On the plus side, the chaotic environment encourages startups everywhere.  As the years go by more regulations will be imposed and enforced, making it harder for the little guys to get a piece of the action.

 

[irvinehomeshopper]

Death penalty is a priority for men with the best anatomical physique. The government plasticize their body and parade them in American museums and  Las Vegas freak shows. Who cares about being a good Samaritan. Chinese would stop to help himself to the injured person's wallet since the wounded is defenseless.

If you killed someone and the court decides that it?s criminal homicide, the driver can get the death penalty.  So some drivers try to run away ASAP after causing a serious accident.

There is very little protection for good Samaritans in China.

 

[rkp]

This thread is bringing back last week's news  that I am desperately trying to get out of my head.  It  the 2 year old toddler in China who was run over twice and no one stopped to help.  She ended up dying.

I dont know why but I actually watched the uneditted video and it has scarred my brain   I watched faces of death as a kid and maybe its being a new dad but its unbearable to watch.  The link is the article and not the video but link to video is in the article:
http://behindthewall.msnbc.msn.com/_news/2011/10/17/8368104-tot-2-run-over-twice-and-no-one-helps

 

[panda]

Rkp,

The book was written in 1996, but I think it is a good "general" formula Thomas Stanley uses. You have to see it from a prospective of a boxer. You are not going to compare a light weight champion under 100 lbs to a heavy weight champion over 300 lbs. The guy who makes $10/hour who has $50,000 is wealthy in my eyes compared to the guy making $10/hour and in $50,000 debt.

I say it is a good "general" formula. Someone who is 59 years old who collects a passive income of $200,000/year needs a networth of $2.36M or above to be considered a PAW according to Stanley. That seems very reasonable. These retired couple have $590,000/year to live on if they are alive for the next 40 years. The crazy thing is that Stanley has found these people to live in homes valued right around $600,000 in his most recent book written in 2009.

A little off topic,

Yesterday I was waiting to make an international wire transfer at Bank of America and to kill time I picked up the bank's copy of the millionaire next door, a book I've haven't read for more than 10 years.

On page 13. the title was "How to determine if you're wealth? The author had an interesting formula to determine if you are a Wealthy, Average, or Not Wealthy.

You take your age and multiply it to your annual household income. Divide that number by 10. If your networth is double this number or greater.. you are considered to be wealthy. You are average compared to your peers with the same age and income if your number is around the same. You are not wealthy if your networth is only half this number. Keep in mind that the equity in your home is not counted in this networth calculation.

For example, Let's take an median age of Irvine of 34 call him Kirk. Let's say he is a senior management position and makes $150,000 a year.

$150,000 x 34 = 5,100,000 divide by 10 = $510,000 networth puts Kirk as an average accumulator of wealth among others who make $150,000/year in his age group

If Kirk has a networth of $1,020,000 or greater, he is considered to be wealthy as Thomas Stanley would call it, Prodigious accumulator of wealth.

If Kirk has a networth of only $255,000 he is not weathly. (Under accumulator of wealth)

Then you know nothing about the mentality of Asian immigrants...especially rich ones.  The schools are the only reason why a rich person in Taiwan or Korea would send their kids to the US.

I'd be willing to bet that I know a LOT more super rich Chindians than you do, and I'd be willing to bet you if I asked them how much they covet California Public Schools, they'd agree with my general opinion and laugh at yours.

I agree with both of you guys.  Indie is certainly right about the super-rich.  We know some super rich Taiwanese, and they live in Crystal Cove.  They think about Irvine the same way white people in PV think about Torrance.  No Irvine public school is going to convince them to pay $1M for a 4 bed home sitting on a motorcourt with the back wall of the neighbors home 10 feet away. But maybe that is the problem --- the definition of rich.  The FCB's concerned about public schools (and no doubt many are) are probably not at all "rich", just upper middle class like most of newer* Irvine.  They may have a lot of "cash" to put down --- but enough cash for an Irvine home certainly does not = rich.

*If your address includes the words Ridge or Shady and you have no common walls, you are exempt from the middle class tag.

That seems very silly.  I get that the point they are trying to make is about being a saver vs spender and hence the heavy reliance on income.  But reality is that if you have $250K free and clear and you are making $150K at 34, you are no way "Not Wealthy".  On the same note, if you make $10 bucks an hour at age 34 and have $50K saved up, you arent wealthy either.

 

[The Motor Court Company]

Rkp,

The book was written in 1996, but I think it is a good "general" formula Thomas Stanley uses. You have to see it from a prospective of a boxer. You are not going to compare a light weight champion under 100 lbs to a heavy weight champion over 300 lbs. The guy who makes $10/hour who has $50,000 is wealthy in my eyes compared to the guy making $10/hour and in $50,000 debt.

I say it is a good "general" formula. Someone who is 59 years old who collects a passive income of $200,000/year needs a networth of $2.36M or above to be considered a PAW according to Stanley. That seems very reasonable. These retired couple have $590,000/year to live on if they are alive for the next 40 years. The crazy thing is that Stanley has found these people to live in homes valued right around $600,000 in his most recent book written in 2009.

A little off topic,

Yesterday I was waiting to make an international wire transfer at Bank of America and to kill time I picked up the bank's copy of the millionaire next door, a book I've haven't read for more than 10 years.

On page 13. the title was "How to determine if you're wealth? The author had an interesting formula to determine if you are a Wealthy, Average, or Not Wealthy.

You take your age and multiply it to your annual household income. Divide that number by 10. If your networth is double this number or greater.. you are considered to be wealthy. You are average compared to your peers with the same age and income if your number is around the same. You are not wealthy if your networth is only half this number. Keep in mind that the equity in your home is not counted in this networth calculation.

For example, Let's take an median age of Irvine of 34 call him Kirk. Let's say he is a senior management position and makes $150,000 a year.

$150,000 x 34 = 5,100,000 divide by 10 = $510,000 networth puts Kirk as an average accumulator of wealth among others who make $150,000/year in his age group

If Kirk has a networth of $1,020,000 or greater, he is considered to be wealthy as Thomas Stanley would call it, Prodigious accumulator of wealth.

If Kirk has a networth of only $255,000 he is not weathly. (Under accumulator of wealth)

Then you know nothing about the mentality of Asian immigrants...especially rich ones.  The schools are the only reason why a rich person in Taiwan or Korea would send their kids to the US.

I'd be willing to bet that I know a LOT more super rich Chindians than you do, and I'd be willing to bet you if I asked them how much they covet California Public Schools, they'd agree with my general opinion and laugh at yours.

I agree with both of you guys.  Indie is certainly right about the super-rich.  We know some super rich Taiwanese, and they live in Crystal Cove.  They think about Irvine the same way white people in PV think about Torrance.  No Irvine public school is going to convince them to pay $1M for a 4 bed home sitting on a motorcourt with the back wall of the neighbors home 10 feet away. But maybe that is the problem --- the definition of rich.  The FCB's concerned about public schools (and no doubt many are) are probably not at all "rich", just upper middle class like most of newer* Irvine.  They may have a lot of "cash" to put down --- but enough cash for an Irvine home certainly does not = rich.

*If your address includes the words Ridge or Shady and you have no common walls, you are exempt from the middle class tag.

That seems very silly.  I get that the point they are trying to make is about being a saver vs spender and hence the heavy reliance on income.  But reality is that if you have $250K free and clear and you are making $150K at 34, you are no way "Not Wealthy".  On the same note, if you make $10 bucks an hour at age 34 and have $50K saved up, you arent wealthy either.

there is a serious flaw in this equation. What if you are 22 year old, right out of school, making $70k a year and have zero net-worth?
At least you have to subtract some fixed number from your age.