Why would someone need to buy?

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tyler_IHB

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I keep hearing/reading people say that they "need to buy" on this forum, in person and else where. Every time I've asked these people "why do you need


to buy" it ends up in reality they just want to buy. So, what situation would actually make someone to "need to buy a home"?
 
tyler - As I have read it expressed in here, it seems those who feel they must buy are pressured by their spouses, usually wives, to do so. I am glad my wife is understanding and has "seen the light", but if given the choice between my marriage and a few hundred thousand dollars, I would chose my marriage.
 
<p> </p>

<p>Most 'needs' come from wives-who-hired-Suzannes. For some, however, that does't make the pressure any less real if they want to stay married. But those folks usually overlook or discount the amount of stress that buying a house in a downward market could put on a relationship.</p>

<p>SCHB</p>
 
<p>Tyler - the only thing people really need is food and basic shelter to survive. Hence, I think any material good that is a need is actually a want. </p>

<p>That being said, I think the comfort of knowing that you own your home is a major driving factor. Granted, the banks usually own them but people feel comfortable remodeling or investing into their homes if they think they own them. Who wants to improve a rental or customize it? At least that is a major driving force for my wife. She knowes we can rent a great SFH but that still doesn't allow her to make it the way she wants it. Also, you are mercy to your landlord and might have to relocate. My wife moved around a lot as a child and really wants to raise our future kids in 1 neighborhood. You definitely can't plan on living at a rental for 20 yearsl </p>
 
rkp..... yes, the "emotional price tag" is difficult to factor in. I'm with you in regards to wanting to own for comfort, but the rationalization just isn't there right now. I, too, would reno the crap out of the place I rent...if it were mine. Doing those projects leaves one with a sense of accomplishment. So, I just make do with what I have and wait for the day I snap one up for myself.
 
rkp - I would speculate that many who purchased a home in the last year and many who purchase within the next couple years will be at the mercy of their jobs, interest rates, and the economy instead of a landlord. I don't think purchasing right now or any time soon is any guarantee of raising children in one neighborhood.
 
<p>This is my first post.</p>

<p>I’m female & married. I immigrated from Japan where Real Estate market declined over 10 years.People purchase home there even in no-hope declining market because it’s not financial asset for them.As matter of fact my sister purchased home in Japan two years ago right after she got married. My cousin build pretty log house at the about same time. Both of them don't care resale value, rental value and so on. </p>

<p>My husband(American) see home as a place he will stay for rest of his life. I think it's not realistic because the average American moves once every seven years.


He pressures me to buy a house. He got MBA from UC Irvine & understands SoCal real estate price is silly. But buying home is his dream.


I have investor mind & don’t want to purchase real estate now in SoCal for long term holding. Every time I tell him to wait to buy our home for other 4 or 5 years, he starts argument. </p>
 
<p>JP, </p>

<p>Most Asians do not act on impulse. The waiting and patience is the virtue of your culture. You are doing the right thing at this point. Most of the bloggers will tell you that prices will continue to depreciate and you have plenty of time to pick and choose the house of your husband's dream.</p>

<p>The inventory in Irvine in plentiful right now. You will find many identical plans in the market. Unless you are looking for one of a kind trophy property that rarely come up in the market then you should wait. </p>

<p>For example, there are some rare 1920's homes on the ocean side of PCH in Laguna that seldom come on the market or the stately mansion homes where Henry Segerstrom old family home is on Victoria street in Floral Park that families hold on to them for many generations. </p>
 
bkshopr, who do you think is the most impulsive group? I don't know about the "Asians do not act on impulse" I think that's painting with a pretty broad brush. I know lots of Asian individuals/families who spend, spend, spend to impress others and I would call that impulsive, and not exemplifying "waiting and patience." I, by no means, want to discourage discussion on this, and I like hearing some about the cultural aspects of the market. Irvine, in addition to be the safest big city is one of the most diverse, and I think that's a factor that affects this market.





Your comment did conjure up images of bowing and banging a gong! Sorry! That's bad, I know!
 
rkp,





I understand why some people want to buy a home, but most of it is wrapped up in traditional culture. I find that people do these things because its the "thing to do", not because


it really makes sense or it will make them happier. You mention customizations, yet I don't know many peole that have done anything to their home that I can't easily find in a rental?


Also, at least in California the whole "live in one neighbourhood for 20 years" thing is a bit odd considering that California doesn't have strong communities. In reality after 10 years most of your neighbourhood is going to be "new" anyways. Although I can understand keeping your kids in the same school, but in that case you can just be sure not to leave your district. Regardless certainly for some people buying a home would be "nice", but at the moment the cost is so high I can't seem how your typical family can justify it in any rational way.








bkshopr,





Making generalization about "asians" makes absolutely no sense. The Japanese differ greatly from the Chinese and likewise for all the other asian cultures, there is little or no commonality that connects them all. "Asian" doesn't denote a culture its either a vague racial indicator or indicates ones geographic origin, Maybe when you say "asian" you have in mind Chinese. I don't know. Regardless, I think the current Chinese stock market bubble clearly shows that asians have no problem acting on impulse. JP has the views she as because these are the things she has concluded from her life, not because she is "Asian".
 
<p> </p>

<p>Most Asians are materialistic but not impulsive. I agree with you on the spending to impress others and constantly comparing to the Joneses. The movie Joy Luck Club is a good example in illustrating this.</p>

<p>What you see are the cars that they drive and the Burberry, Gucci and Louis Vitton they are carrying. This is just the end result of their long journey.</p>

<p>Asians would never buy a car at first sight. They bargain hard and shopped at many dealers before striking a deal.</p>

<p>Asians window shopped constantly and religiously checking for their favorite items to go on sale before buying. They have very little interest in sports and recreation so the weekends are not at the ski slope, beach, or watching endless sports TV. They window shop and prey on the brand name item with determination but not impulsive. Obsession for materialistic goods started early in the culture. </p>

<p>Asians buy brand names from the Cabazon outlets. When Asians travel they are not checking out the wineries they are going for the best deal shopping. Asians will stop at the outlet before Napa Valley but not further their journey into the wine country.</p>

<p>Asians are incredible savers but they are obsessed with status.</p>

<p>Asians are obsessed with higher education. This takes 20 years of educations and no social life while growing up. The kids that we see playing at the parks are seldom Asian kids. They are practicing their Piano, violin, Chinese writing and mental math at home. </p>

<p>Asians are driven with career and they are willing to take the longest, safest and most passive road to climb to the very top. You will never see any young Asian hot shot executive. They climb to the top with long hours, hard work and lower initial salary. Asian are never out the office door at 4:59 pm.</p>

<p>Asians like to live at the nicest neighborhood but not pretentious place like Newport or Beverly Hills. They are looking for value, safety, good schools, and stable real estate value.</p>

<p>Asians like nice things but they give up a lot of other intangible spending such as spending for non-physical goods like drinking at the bar, buying pop corn and soda at the theatre, buying food at Disneyland, going to a concert, shopping at Seven Eleven or shopping for snack sat a gas station. For every 8 Caucasian Latte buyers in line there is one Asian considering the population of Asian in Irvine is 35%. </p>

<p>Patiently saving and careful shopping are virtue of Asians. Asians buy things that they can hold on to for a long time. They buy brand name items to last a longtime instead of buying trendy seasonal fashion. Very few Asians donate goods to the Goodwill because everything last a long time. Asians hate to get rip-off by mechanic so they all drive Japanese cars and kept their speed exactly at 55 for gas saving and longevity of their cars.</p>

<p>They also have a nicer German car that they use to show off to their friends and neighbors but the wear and tear is on the Honda. It is the Honda that is kept in the garage and the Mercedes is parked on the driveway. </p>

<p>What we see is the fruit of the labor but the years of hard work to get there and maintaining it there is what we don’t see. Although Asians bargain for the nicest things they save more than ½ of their earnings. Bankruptcy and loan default are rare for Asian. Over extending one self seldom happens. Yes Asians are big show off with goods but their bank accounts are never empty.</p>

<p>Getting back to the safest city in the nation. Asians are not into quarrels and generally passive in nature. Violent behaviors that lead to battery and crime is rare. That at least will eliminate 35% of crime in the statistics.</p>
 
Haha, bkshopr your post is a work of pure comedy! I like ones like these:





- For every 8 Caucasian Latte buyers in line there is one Asian considering the population of Asian in Irvine is 35%.


Could it be that most latte have milk in them? Or that the Chinese etc typically don't drink coffee? Have you been to one


of the many places in Irvine that serve "bubble tea" etc? Oh wait, they are filled with "asians".


- They buy brand name items to last a longtime instead of buying trendy seasonal fashion.


Yes because "brand name" items last longer right? Have you taken a look at Japanese fashion lately? Hell, how about the fashion in Shanghai?


- Asians are not into quarrels and generally passive in nature.


A quick review of history seems to show a lot of violence in asian cutlures, I mean didn't the Japanese brutely kill hundreds of thousand of Chinese?


Sure a lot of killing for a people "not into quarrels and generally passive in nature". I suppose all those missiles pointing at Taiwan from China are part


of that passive nature as well.





Anyhow stop the stereotypes they aren't useful in anyway.
 
I'm trying to figure out how 1,000,000 Tibetans killed and 6000 of their Monestaries burned equals "not into quarrels and generally passive in nature," myself, Tyler! If you find it comedic don't tell him to stop! I want more!





I definitely see a lot of Asians being very into image, and I'm very unimpressed with image and conspicuous consumption on the whole. I don't think "oh wow, she's so rich, she bought Burberry," I think, "wow, she spent all her money foolishly!"





"Asians are obsessed with higher education. This takes 20 years of educations and no social life while growing up. The kids that we see playing at the parks are seldom Asian kids. They are practicing their Piano, violin, Chinese writing and mental math at home."





-- This reminded me of a very in depth article I read about how there are so many Asian kids at Berkeley and so few in the Ivy Leagues and why this might be. One point it talked about was this "robotic" studying ethic that basically made the student boil down to a number or index and how that does not fly with Ivy League admissions. It also talked about how Asians tend to think of their professors as very high above them, not questioning what they say (which would be more consistent with the Western Socratic philosophy) and how this made and Ivy League education (with all of the extra money it costs) basically not worth it.

<p>


</p>

<p>"Asians are driven with career and they are willing to take the longest, safest and most passive road to climb to the very top. You will never see any young Asian hot shot executive. They climb to the top with long hours, hard work and lower initial salary. Asian are never out the office door at 4:59 pm."


</p>

<p>-- This idea reminded me of a study some Asian Male Harvard Business School students did about why Asians don't rise up in a company as fast as their White counterparts. The reason they deduced in their own study (time for the indulgent oppressed to cry "Wolf") was that Asians expect to be elevated by superiors whereas other employees advocate for themselves.</p>

<p> </p>

<p>And as far as Asians not wanting to live in Newport Beach-- I know two Asian families that want to live there and do! The reason more don't though is because it's kind of a racist place! I'll take Newport Coast over Newport Beach, even as a Whitey!


</p>

<p> </p>

<p>I welcome finding out more about Asian culture. As someone who intends to live in Irvine someday, I want to be able to connect with the variety of people there. There are many things about Asian culture that I'm still learning even after having Asian friends for many years. One thing right off that strikes me as a mismatch is why do Asians comparitively seem to underutilize all of the amenities that their Irvine neighborhoods offer? Those parks, pools, and trials cost money-- they're paying for them out of their HOA's. Anyway, thanks to Bk and Tyler for your comments.


</p>







Zovall, this might best be moved to Water Cooler! What do you think?
 
bkshopr's line of work is market studies (I think), so stereotyping is what he does for a living, so much of what he relates does come from detailed studies of the behavior of these consumer groups. Although sometimes I think he extrapolates a bit...
 
<p>Yes, I think we've all noticed that BK is fixated on San Marino, and that he/she is loooooong winded. His/Her mind must be moving 100 mph to crank out those posts ! Entertaining though...</p>
 
<p>Irvine Renter,</p>

<p>Thank You . There are unique facets about the various Asian cultures. The most behavior that I quoted earlier are the new homebuyers that I studied carefully. They are mostly main stream Chinese from Hong Kong and Taiwan. My work mainly target the major metropolitan cities. Mostly East Bay, San Jose and OC and mostly 100% on the Ranch. I have been responsible for the major market studies for the last 15 years.</p>
 
"They are mostly main stream Chinese from Hong Kong and Taiwan", you should say "Chinese" instead of "Asian" then. Most people aren't going to take you seriously if you


make these sorts of generalizations about "Asians" in general as they make little sense.
 
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