Why Do the Chinese Love Irvine?
- Thread starter Liar Loan
- Start date
NEW -> Contingent Buyer Assistance Program
Well technically Jack is caucasian isn't he? In the 80's the Japanese were buying up all of Downtown LA and everybody was afraid because America was losing its dominance, then Japan's economy went KABOOM. I don't know what will happen to China but my gut instinct is that they will have a major economic event sooner or later. Nobody can defy the laws of gravity forever.
I don't really know what to say. This post seems awfully ignorant. But I guess the Japanese overlords we had from the 1980s really left an impact...or not.
What grounds would the US Government take to block the buying of real estate?
The Chinese mistresses swore the black dragon is better than the Mexican dragon.
It was an thoughtless rant on my part. I didn't mean to have the government block sales to foreign people. I think it is fair to ask for a higher property tax and MR. Maybe we have a case. How about on the same ground we the taxpayers were forced to bail out the '2 big 2 fail' and the same ground the government is pushing for loan modification for underwater mortgages? I agree that the government doesn't owe us a living, but my elected officials have an obligation to look after the local economy and its direct beneficiaries, namely, you and me. Like someone said above, we are selling the path to citizenship at 500k for a family of 2 to however many. Then they bring all their relatives over to enjoy retirement and medical benefits for the rest of their lives. We might as well sell our soul and kiss my social security goodbye before it goes bankrupt.
And on a more serious note, how much tax are the new comers paying? Out of the few FCB's in my social circle, who have been here for more than a year, NADA! They report just enough foreign income to break even and they intend to keep it that way for as long as they can get away with. What's wrong with asking them to contributing a bit more than we do so that we could enjoy this place on equal footing? I hear the saying 'being priced out forever' a lot at TI. It is a sad truth because there are lots of buyers came here with with an unfair advantage - whatever that may be.
Good to know that they like a piece of our world so here is a price tag. Supply vs demand, take it or leave it. Just don't forget to check out when you leave us for a new utopia somewhere down the horizon - that's what the Australian government did, rightly.
My work requires me to constantly stay in contact with well-to-do businessmen in China and what you're saying is entirely true. There are certain cities like Irvine that have a reputation among the wealthy in China. It's not uncommon for me to meet people that want to invest in Irvine but have never even been there; theyre willing to invest solely based on what they hear.
As a US Citizen I welcome with open arms all of the Chinese Nationals that make their way to our side of the pond. First of all most of them are only visiting (not buying houses) and the ones that can get Visa's tend to be the wealthier Chinese. These are the kind of Chinese that come and spend shitloads of money on clothes, goods, vegas, etc. They may talk in a funny language but as long as they keep bringing their hard earned Yen to spend over here you won't hear me complaining.
As far as the housing boom goes I would normally agree that Govt. intervention is generally not helpful in these kinds of circumstances. For example HK introduced a 15% tax specifically targeted at foreign (read: mainland) buyers last year but prices are still appreciating. Not sure what the best solution is and I want to say the bubble will eventually burst but then again look at China's real estate market.... But with the Chinese Govt. cracking down on the wealthy and empowered's assets you can be sure that in the short term they will be looking to get their money out ASAP and what better place than Irvine...
Liar Loan
Well-known member
zubs said:
Well technically Jack is caucasian isn't he? In the 80's the Japanese were buying up all of Downtown LA and everybody was afraid because America was losing its dominance, then Japan's economy went KABOOM. I don't know what will happen to China but my gut instinct is that they will have a major economic event sooner or later. Nobody can defy the laws of gravity forever.
Irvinecommuter
New member
IrvineRepublic said:
I don't really know what to say. This post seems awfully ignorant. But I guess the Japanese overlords we had from the 1980s really left an impact...or not.
What grounds would the US Government take to block the buying of real estate?
irvinehomeshopper
Well-known member
You must be new to the game. They are satisfied. 5 years from today you will see many Mexican dragons attend kindergarten.
IrvineRepublic said:
irvinehomeshopper
Well-known member
Irvine High Schools' basketball teams suck as much CalTech's team. The black dragons could change that.
irvinehomeshopper
Well-known member
world chaos said:
The Chinese mistresses swore the black dragon is better than the Mexican dragon.
usctrojancpa
Well-known member
What about the white dragon?irvinehomeshopper said:
Irvinecommuter said:
It was an thoughtless rant on my part. I didn't mean to have the government block sales to foreign people. I think it is fair to ask for a higher property tax and MR. Maybe we have a case. How about on the same ground we the taxpayers were forced to bail out the '2 big 2 fail' and the same ground the government is pushing for loan modification for underwater mortgages? I agree that the government doesn't owe us a living, but my elected officials have an obligation to look after the local economy and its direct beneficiaries, namely, you and me. Like someone said above, we are selling the path to citizenship at 500k for a family of 2 to however many. Then they bring all their relatives over to enjoy retirement and medical benefits for the rest of their lives. We might as well sell our soul and kiss my social security goodbye before it goes bankrupt.
And on a more serious note, how much tax are the new comers paying? Out of the few FCB's in my social circle, who have been here for more than a year, NADA! They report just enough foreign income to break even and they intend to keep it that way for as long as they can get away with. What's wrong with asking them to contributing a bit more than we do so that we could enjoy this place on equal footing? I hear the saying 'being priced out forever' a lot at TI. It is a sad truth because there are lots of buyers came here with with an unfair advantage - whatever that may be.
Good to know that they like a piece of our world so here is a price tag. Supply vs demand, take it or leave it. Just don't forget to check out when you leave us for a new utopia somewhere down the horizon - that's what the Australian government did, rightly.
changm55
New member
actually, the ppl in irvine that i personally know that show the most animosity towards the influx of mainland chinese are actually some of my uber green coalition taiwanese friends... but then that hate stems from politics back home... i always poke at them cause im uber blue... oh it kills me each time i shop at ranch 99 knowing that green corrupt president owns a big chunk of ranch 99 shares bought with stolen monies... oh the irony...
USCTrojanCPA said:
changm55
New member
actually i remember in 2008 when obama won i said "LIBERAL PIECE OF SHIT" and i swore i wasnt gonna pay any tax that year... but it was extremely hard... and in the end obama won and i lost... i couldnt live one year without paying some sort of tax...
like even if i balanced my books and made 0 USD that year, so no los angeles business tax, no board of equalization sales/use tax, no state 540 and no federal 1040... im still left holding the bag to pay my payroll taxes and llc annual tax/fee... and then each time i shopped or consumed anything id pay sales tax... if i drove id have to pay for registration, n then property tax too... n this is just the ones off the top of my head... i remember there was more... as citizens we seriously are so heavily DOUBLE taxed most ppl dont even realize this... but thats another topic right?
so i honestly dont believe u that they pay nothing...
besides if ur so pissed off at them not paying taxes, then go and set up ur own foreign holdings company or what nots, if u have stocks put it in a trust... there are ways... i mean during 2012 they went through in detail how romney did it using trusts... i mean honestly, was everybody asleep then? yes we can? forward?
like even if i balanced my books and made 0 USD that year, so no los angeles business tax, no board of equalization sales/use tax, no state 540 and no federal 1040... im still left holding the bag to pay my payroll taxes and llc annual tax/fee... and then each time i shopped or consumed anything id pay sales tax... if i drove id have to pay for registration, n then property tax too... n this is just the ones off the top of my head... i remember there was more... as citizens we seriously are so heavily DOUBLE taxed most ppl dont even realize this... but thats another topic right?
so i honestly dont believe u that they pay nothing...
besides if ur so pissed off at them not paying taxes, then go and set up ur own foreign holdings company or what nots, if u have stocks put it in a trust... there are ways... i mean during 2012 they went through in detail how romney did it using trusts... i mean honestly, was everybody asleep then? yes we can? forward?
changm55
New member
dont u need an ss to claim ss/medicare?... how can a foreigner who doesnt even have a green card claim ss/medicare benefits that u suggested earlier? isnt that ss/medicare fraud? i thought only texans do ss/medicare fraud...
im actually not that pissed off they dont pay federal taxes... i hate the fed... 40-45 cents of every tax dollar goes straight to defense spending... really?... 10-15 cents goes straight to paying interest on our debt... the rest? lol pork barreled to fund projects in other states... we'd be lucky we even see a few cents back... state tax? under jerry brown?... haha its faster and more efficient if we just skip paying the state and pay it straight into unions... less chance of corruption of someone stealing from the jar too... maybe theyll be happy and stop picketing and striking at LAX...
im actually not that pissed off they dont pay federal taxes... i hate the fed... 40-45 cents of every tax dollar goes straight to defense spending... really?... 10-15 cents goes straight to paying interest on our debt... the rest? lol pork barreled to fund projects in other states... we'd be lucky we even see a few cents back... state tax? under jerry brown?... haha its faster and more efficient if we just skip paying the state and pay it straight into unions... less chance of corruption of someone stealing from the jar too... maybe theyll be happy and stop picketing and striking at LAX...
IrvineRepublic said:
My work requires me to constantly stay in contact with well-to-do businessmen in China and what you're saying is entirely true. There are certain cities like Irvine that have a reputation among the wealthy in China. It's not uncommon for me to meet people that want to invest in Irvine but have never even been there; theyre willing to invest solely based on what they hear.
IrvineRepublic said:
As a US Citizen I welcome with open arms all of the Chinese Nationals that make their way to our side of the pond. First of all most of them are only visiting (not buying houses) and the ones that can get Visa's tend to be the wealthier Chinese. These are the kind of Chinese that come and spend shitloads of money on clothes, goods, vegas, etc. They may talk in a funny language but as long as they keep bringing their hard earned Yen to spend over here you won't hear me complaining.
As far as the housing boom goes I would normally agree that Govt. intervention is generally not helpful in these kinds of circumstances. For example HK introduced a 15% tax specifically targeted at foreign (read: mainland) buyers last year but prices are still appreciating. Not sure what the best solution is and I want to say the bubble will eventually burst but then again look at China's real estate market.... But with the Chinese Govt. cracking down on the wealthy and empowered's assets you can be sure that in the short term they will be looking to get their money out ASAP and what better place than Irvine...