Foreign money, who are they?

NEW -> Contingent Buyer Assistance Program
Let's see ... medal or a cookie ... Hmmm? Well, ocorbust, I will let you decide. Which is more appropriate for a moron?
 
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<p>AWGEE VS OCORBUST </p>

<p> TONIGHT 9 PM</p>

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<p>awgee,</p>

<p>Someone can call someone else, with the opposing views, a moron. I am sure the idea of ocorbust "a moron" crossed your mind.</p>

<p>ocorbust did appologize! I thought only girls are "catty".</p>
 
<p><em>"I am sure the idea of ocorbust "a moron" crossed your mind."</em></p>

<p>Nope, not for a second, but then, it is not smart for those in glass houses to throw stones. Or, in other words, I may be a moron, but that would not be determinable by anything I wrote in this thread.</p>

<p>Well, maybe.</p>
 
<p>blue,</p>

<p>Yes, I know their companies sub the housing expenses. These folks do want to purchase homes for their children because the children have strong wish to not go back home. I think it has something today with "freedom" as the desireability factor.</p>
 
<p>NIR,</p>

<p>It's not that Korean children don't want to go back, but rather they cannot go back. The speed at which Korean education system teaches their kids is extremely high in comparison to here, and they cannot catch up to those kids in terms of materials once they return back to their home country. Kids who have returned home could not cope with their public school education, and were forced into either private schools catered to kids who return from abroad, or the kids have to stay put here and complete their education.</p>
 
<p>Awgee's assets:</p>

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<p>Ocorbust ?</p>

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<p>blue,</p>

<p>Very good point about the education course differentials. I often were told that the teenage children, after 4 years of living in US, may no longer can fit in. Thank you for the explanation.</p>

<p> </p>
 
<p><em>It's not that Korean children don't want to go back, but rather they cannot go back.</em> </p>

<p>This is very true but I think this extends outside of education. Depending on age, conscription can play a huge role in not returning to Korea (for males anyway). Because the lineage of a family must be "registered" in Korea, all "registered" sons must enter the military at the age of 18. Some parents may feel that the two years required in the military could be better spent in education. Korean parents may be reluctant to return home in fear of the exercise of such a provision. </p>
 
I suspect that most bloggers here are US-grown and educated. Well, I am not. So you probably can tell that my English writing is not as fluent. I learn the language myself by watching TV news and reading classic literatures. Hopefully you can understand this long post.





Many people I know, whether they are Korean, Chinese, Taiwanese, Middle eastern or European, don't pay US tax on their foreign source income.


I can give you some examples, but I am not revealing details because I know them through family connections.





1. A Chinese woman with two children, spend about $800,000 on a new Northwood house in 1997. Her husband stays in China running a drug co. Does she report her multi- million dollar income? No, but she can pay 10 million cash for a house in Newport Coast. Her only problem is that she has not found one she likes, so she rents -- at more than $30,000 a month.





2. Two Korean brothers, inherited their parents' company in Korea, decided to move their own family to the US. One came first in 2001, rented in University Park, then bought a house in Northwood. Second brother came in 2004 and decided that it was too expensive to buy already, he assumed his brother's lase and is still renting. Their family business has been booming back home, but they don't report the profits as US income. So how did they rent in Irvine? They signed a year-long lease, paid the one year rant and two months deposit full in advance.





(I can name a few more but the post is getting too long).





So does this have an effect on Irvine housing costs? I don't know. Any Immigrant family with an absentee father is very likely to have unreported foreign source incomes. That is my opinion/observation.





My own family is into real estate investment. Grandparents and parents have been successful doing it. My parents bought houses in Irvine starting 1996. By end of 2000, they stopped, telling me it was getting too expensive to have a good profit. Back home they own far more properties than what they have here in CA. They report their US rental incomes, but they don't report their income out side the US to the US government. Is this legal, I guess awgee can answer that.
 
<p>For those kids who wish to evade conscription, they have to stay here in the states and cannot return home until they reach the tender age of 45 (I believe... I'm not sure of the age, but it's pretty high). Until then, if those kids decide to live, work, or even visit Korea, they may be denied exit from the country and sent to the military from the airport itself. Back in 99, I saw a mother and her son crying like there is no tomorrow because the government would not allow the son to exit the country. He had lived abroad, did not report when the military called his conscription, and when he visited Korea for a summer trip, the government would not allow him to leave. </p>
 
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