Laguna Altura is HOT!

[Kenkoko]

So when IHO was asking how many FCBs live in HC, he was asking how many non-Americans live there, not necessarily asking how many Chinese cash buyers live there. Am I correct, IHO?

Actually I'm asking about FCBs, someone whose "cash" was sourced from foreign income.

Although nowadays, that seems to blur. As I said, the people I know who live in HC have very high paying jobs, own their own businesses, or as someone else said, flipped equity into an HC home. All these people went to college in the US and could be born in outside of the US but are now citizens.

The FCBs I encounter are usually not citizens, park their money in a house and either rarely live in it or rent it out (see YF's old posts about TIC hoods). But I admit that may not be typical.

I don't doubt that gpquest's contention that HC has a large East Asian demographic but I was wondering if they were FCBs (ie non-citizens). Kenkoko says they are so I guess I just don't know very many FCBs (that's actually true) so maybe my perception is skewed.

I just wasn't sure what the FCB buy rate is once you get up in the $2.5mil range (I think HC is higher now).

It is blurry.

Most FCBs we know have US citizenship but it's more out of convenience (green card have very restrictive residency requirements)
Not because they live here year round (most split time between here and Asia like my parents)
They also tend not to behave like your typical "US citizen"
They don't mingle with locals, don't participate in anything, don't use common areas,don't attend HOA meeting, don't vote etc.
Therefore, their presence are not really felt outside of their ethnic circle.
Many barely speaks any English.
Even tho many of the homes are cash bought, they are often cash from leveraged positions overseas.
Also, I've been saying this for awhile now- do not expect FCB cash bought homes to behave the same as your typical domestic cash bought homes.

 

[irvinehomeowner]

IHO never said the term FCB was exclusive to Chinese but that is now we have used the term on this board over the years.

By "we" you mean the royal "we". Not all of us have used the term FCB to refer to Chinese... just needed to clarify in case a geography/english teacher was reading this.

When Graph claimed there was no FCB influence on Irvine RE prices, he was talking about Chinese.

I think he was talking about Asians... err... East Asians. We all know now that Graph's claim was in error unless he wants to come back and rehash this (we actually did this on OC Reader since we were able to look at the 2010 census vs the 2000 census).

 

[irvinehomeowner]

They don't mingle with locals, don't participate in anything, don't use common areas,don't attend HOA meeting, don't vote etc.
Therefore, their presence are not really felt outside of their ethnic circle.

Ahh... this is probably why I didn't see any at Laguna Altura.

However, I will say they do play basketball. I've been to a few different courts where almost all of them are Chinese... I should ask them where they live.

 

[Mety]

Any village in Irvine built since 2012 will have Asian (yes, including Indians) majority. Laguna Altura falls into that category. Hidden Canyon falls into that category as well. It's not just Eastwood Village. To go even further, any RE area (not just Irvine) with newer homes that usually gives you pretty good ROI will have more Asians.

I said this before, but Asians fill up the world's majority population to begin with and it's natural to see more of them in the United States since we are a nation filled with global ethnicities. To give you more details on the demographic percentage, the list goes -

1. Asia - 60%
2. Africa - 16%
3. Europe - 10%
4. North America - 7%
5. South America - 6%
6. Central America - 1%
7. Oceania - 1%

Many people are saying Africans will be more dominating upcoming years. Will we see more of them in Irvine in a future?

 

[eyephone]

Any village in Irvine built since 2012 will have Asian (yes, including Indians) majority. Laguna Altura falls into that category. Hidden Canyon falls into that category as well. It's not just Eastwood Village. To go even further, any RE area (not just Irvine) with newer homes that usually gives you pretty good ROI will have more Asians.

I said this before, but Asians fill up the world's majority population to begin with and it's natural to see more of them in the United States since we are a nation filled with global ethnicities. To give you more details on the demographic percentage, the list goes -

1. Asia - 60%
2. Africa - 16%
3. Europe - 10%
4. North America - 7%
5. South America - 6%
6. Central America - 1%
7. Oceania - 1%

Many people are saying Africans will be more dominating upcoming years. Will we see more of them in Irvine in a future?

...

 

[Mety]

I personally would buy in Corona Del Mar if I had $2.5m budget to buy a home, but who knows I might change my mind when I reach (if ever) that budget.

Bleh, I dunno - this is the best house I could find in CDM for $2.5M:https://www.redfin.com/CA/Corona-Del-Mar/36-Morro-Bay-Dr-92625/home/4733750

I'd probably choose HC over this.

If I got money like that, I still would choose CDM and rebuild the way I want. How about HC floor plan with modern upgrades in CDM?

 

[lnc]

Here's nicely done video for this Siena listing.  Siena is EW's Petaluma clone, asking for $1.05M.
https://www.theagencyre.com/listing/sl1911774-80-borghese-laguna-altura/