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Old 10-18-2019, 07:40 AM
 
Location: Outside US
1,662 posts, read 660,682 times
Reputation: 2250

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Quote:
Originally Posted by Guineas View Post
Spend it all on housing like the Chinese.
I work with Chinese at times.

Parents buy some of their kids apartments and pay 100% of it because their kids could never afford it. Certain cities.

IMO, it can't go on forever
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Old 10-18-2019, 10:20 AM
 
Location: Was Midvalley Oregon; Now Eastside Seattle area
4,790 posts, read 2,193,807 times
Reputation: 3614
^The expectations are that the Child(ren) will grow into the home in future wealth and return the favor as a possible home for their parents. What is wrong with this?
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Old 10-18-2019, 10:43 AM
 
Location: Seattle
5,423 posts, read 3,301,068 times
Reputation: 3828
Quote:
Originally Posted by leastprime View Post
^The expectations are that the Child(ren) will grow into the home in future wealth and return the favor as a possible home for their parents. What is wrong with this?
I know American/white families that do this. Kid goes to college, gonna be four years, why not buy something and rent it out after? Real estate is a finite resource.
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Old 10-18-2019, 10:46 AM
 
921 posts, read 1,845,220 times
Reputation: 1379
Quote:
Originally Posted by leastprime View Post
^The expectations are that the Child(ren) will grow into the home in future wealth and return the favor as a possible home for their parents. What is wrong with this?
What's wrong with this is that it drives prices of homes in China to 20-40x local income (versus 3-7x in the US). It's absolutely unsustainable and requires the wealth of 3 generations just to live in a concrete cubicle, all on the hopes that the real estate speculation will continue. This in a country with rapidly declining marriage and birth rates, half of replacement levels and no immigration. What could go wrong?
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Old 10-18-2019, 10:58 AM
 
Location: Outside US
1,662 posts, read 660,682 times
Reputation: 2250
Quote:
Originally Posted by leastprime View Post
^The expectations are that the Child(ren) will grow into the home in future wealth and return the favor as a possible home for their parents. What is wrong with this?
Again, this cannot go on forevor.

And not all Chinese do this for these reasons. Things are changing rapidly.....
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Old 10-18-2019, 11:40 AM
 
Location: Was Midvalley Oregon; Now Eastside Seattle area
4,790 posts, read 2,193,807 times
Reputation: 3614
Quote:
Originally Posted by Returning2USA View Post
Again, this cannot go on forevor.

And not all Chinese do this for these reasons. Things are changing rapidly.....
Perhaps not. But we should all try, regardless of ethnicity and all that. The alternatives are not all that appealing.
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Old 10-19-2019, 07:32 PM
 
Location: East of Seattle since 1992, originally from SF Bay Area
30,848 posts, read 56,232,507 times
Reputation: 32842
Quote:
Originally Posted by Botev1912 View Post
And one of these rich cities offers no entertainment or shopping.

"Sammamish: #1 in US in Median Income with No Place to Spend It"

https://sammamishnow.com/blog/sammam...=firstinincome
This is the way most of us like it. We have a few decent restaurants, Trader Joe’s and Metropolitan Market, Safeway and QFC, but just about anything else is readily available 5-6 miles away in Redmond or Issaquah. We don’t mind driving there and letting them have the big box stores, huge concrete parking lots, and traffic. Our city is not hurting despite the lack of sales tax revenue, the high property values/property taxes and are more than enough to pay for our local services. I remember in the recession when the city had some layoffs, but not due to budget. There just wasn’t any work for the building permit techs and inspectors.
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Old 10-20-2019, 10:24 AM
 
Location: Outside US
1,662 posts, read 660,682 times
Reputation: 2250
Quote:
Originally Posted by leastprime View Post
Perhaps not. But we should all try, regardless of ethnicity and all that. The alternatives are not all that appealing.
It's not ethnicity, it's culture.

And the culture us changing.
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Old 10-20-2019, 03:21 PM
 
1,700 posts, read 1,093,130 times
Reputation: 3081
Everywhere I have traveled the poorer the area the better the food and more soulful. This is especially true for overseas. Poorer demographics know how to cook!!.

Sammamish. Its just houses where its 5000 sq feet homes for 2 to 3 people inside.
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Old 10-20-2019, 08:09 PM
 
Location: Bellevue WA
1,338 posts, read 414,753 times
Reputation: 1555
Whatever your rent or mortgage amount is you have to figure in the rest of the household expenses;

Water
Sewer
Garbage
Electricity
Internet
Cell phone bill
Groceries
Gas
Car payment
Car Insurance
AAA bill *
Life Insurance *
Homeowners Insurance *
HOA fees
Pet food
Pet Insurance *
Cat or dog rent (if you're a renter)

The asterisks are maybes.

I think these are all billed monthly, not sure. $2500 a month rent can soar to around $5000 quickly, and a $3500 mortgage payment can soar to over $6000 a month.
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