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lostand confused
2012 Jun 10, 12:05am
The Indian property bubble is heating up too and by most accounts has frothed up to unsustainable amounts. Who knows, maybe the Mayan 2012 prophecy might be true too. All of us descend into a Mad Max scenario!! Those of us in CA, at least have the original Mad Max-Mel Gibson and hey the villain Tina Turner too!!!
GraooGra
2012 Jun 10, 12:20am
Grandparents go to America, parents stay in China to take care of the business and they send their children with granparents to get education in American universities and stay in America.
Of course only government well connected communist party members have power and can make money in China and can get ahead of the rest.
Someone said that there is not enough privileged in China to be able to come to USA. Well, there is about 80 mil of communist party members in China. It is more than a lot of other countries total population.
Another group is of course former Hong Kong's citizens.
We have, in the USA, chosen to import the Asian culture of misery. Constant work, multiple jobs, crushing cost of living, and a dog eat dog rat race.
And the laughable thing is that the Asian helicopter parenting and obsession with forcing math and other academics on kids produces uncreative, rude self centered junk most of the time with an occasional success story.
Sad. Its time to try and figure out a way out of the city centers and prepare to live out life the right way.
B.A.C.A.H.
2012 Jun 10, 2:35am
produces uncreative, rude self centered junk most of the time
Yep. I think you see the future of Silicon Valley. There ain't no future in it.
bmwman91
2012 Jun 10, 4:07am
We have, in the USA, chosen to import the Asian culture of misery. Constant work, multiple jobs, crushing cost of living, and a dog eat dog rat race.
Uugh, I hope not.
My coworker put on the audio book version of The Outliers the other day when we were working in the lab. This comment, along with the audio book's explanation of "Why Asians are good at math" jive perfectly. Looking at the Asian cultural legacy, and the historical role of working rice patties (which apparently yield more and more the harder you work them, which is sort of the opposite of western agriculture), the workaholism makes total sense. Unfortunately, I don't think that a lot of people ever got the memo about "life balance" or that a lot of employers exploit exactly that cultural work ethic without ever letting the worker get the pay-out. At this point, it seems sort of like a dogmatic behavior pattern since it is "expected" but nobody is bothering to think about why. "More work, more money...someday" and that someday may never come, at the expense of all of your todays.
B.A.C.A.H.
2012 Jun 10, 9:40am
it seems sort of like a dogmatic behavior pattern since it is "expected" but nobody is bothering to think about why.
From what I've heard and read, many of the youth in Japan are asking those sorts of questions and frustrating the more established part of their society by choosing not to buy cars and homes.
bmwman91
2012 Jun 10, 9:51am
Interesting. Japan does strike me as being one of the more "modern" Asian societies in a lot of ways, despite being able to hang on to a lot of older traditions (nothing wrong with that, either). I need to visit Japan someday.
B.A.C.A.H.
2012 Jun 10, 10:13am
You will have a great time in a superficial visit as a bumbling foreigner tourist.
Try to have a deeper experience and you will hate it.
freak80
2012 Jun 10, 1:29pm
The cultural revolution wiped out all the traditional values and the semi-capitalism corrupted the citizens into money hungry status climbers who care nothing about morals.
The same thing happened here in the late 1960's and 70's...to a lesser degree.
Serpentor
2012 Jun 10, 4:15pm
Btw. As a non scientific observation, I hear a lot more taiwanes accents in cupertino then Cantonese or mainland mandarin.
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When people say "its part of the Chinese Culture" to buy up overpriced houses (whether its in China or Cupertino) my internal BS flag starts waving.
when you look back in the history of China, there are no cases where property were purchased to sit and not generate income. No cases when luxury real estate are bought by ordinary families and are sitting idle because nobody can afford the rent.
20years ago, chinese were struggling to keep their families fed, 50 years ago real estate were the last thing on people's mind with wars etc, even if you look back 100, 500, or 1000 years ago, I can't think of a case where chines people buy up luxury property and let them sit around.
Are there any time in history of ANY culture that ENTIRE cities are built then sat empty?
This can not end well.
buying overpriced real estate with shadow financing is as part of the Chinese culture as HELOC Neg AM NINJA Loans is part of the American culture.
#housing