Who bought the 2010 home?

fe9000,
When you mentioned that the lifestyle is changing, you are absolutely correct. The nice lifestyle is why we all want to buy in Irvine right? I personally like the 90s era of Irvine much more than I like the 2010 Irvine. A good lifestyle to me is a place where you can raise your kids and family in a nice, safe, clean area with good schools. Housing is affordable when you are making above the median household income in Irvine. An enviroment that encourages entrepreneurship where costs are reasonable to start up a new business in Irvine. I believe the 90s Irvine was like this, but not today. Irvine is now a mature city where the 1990s opportunity is long gone. Today, it takes a lot of resources for a typical family to make ends meet living in Irvine. I would say that if your household income is not above $150,000, (Top 25% percentile in Irvine), life can be pretty stressful.

Today, I could put my entire savings of 10-12 years and buy a Sonoma or Montecito, but i would have nothing else: savings, equity and private business investments and real estate investments. I consider that to be a stressful lifestyle. From an outsider looking in... Irvine seems to be a tough place to build your networth, become financially free, invest, and save as it requires a lot of your resources just to keep up with the Kims and the Wongs. I can easily see how one's entire savings goes into a Montecito and Sonoma, where you don't have much else to enjoy the "dream lifestyle" that Irvine is suppose to offer in their PR.

Another ethnic demographic change that BK mentioned concerns me about Irvine 2010-2020. Fully 80% of the new homes buyers are Asian in Irvine. I am an Asian American myself and love to live in a city that is diverse, however in the next ten years, I see Irvine's demographics changing to 70% Asians. Personally, this would not be very attractive to me. I've been in love with this city for 10 years, however in 2010 and beyond. I will keep my options open. I am very fortunate in that I have time and am in no rush.
 
[quote author="ck"]fe9000....I think you are seeing that all BK is trying to demonstrate is how TIC set the trap, and for a variety of reasons buyers are walking right into it. And the buyers are saying "enough already, BK --- we know we walked right into the trap, but the emotional satisfaction of owning a new home makes it an acceptable trade off". And that's ok. Everyone has to do what they feel is best for them.

But I do appreciate what BK is saying. My opinion is that TIC really does NOT hold pricing power over the public --- WE hold that power. We the public can make the choice to say "I am not going to pay that for that." And if enough of the public demanded it, TIC would have to provide an acceptable product for the money. Look at what happened to GM. To Chrysler. Were those acceptable products they were putting out? Heck, no. And enough people said we are not buying that, there are alternatives. And where did it get them? Well, a gov't bailout...but that's another conversation.

But there is clearly a lot of emotion drving the Irvine market, and BK is articulating the wild success TIC is having and will continue to have because they brilliantly know their market. And like IHO said --- it is inevitable to continue as long as enough consumers do not demand more for their money.

So we each can decide what is best to do based on those market circumstances. I wish everyone the best with their new homes, just like I'm sure you wish me the best in opting out. <!-- s;) -->;)<!-- s;) -->[/quote]

When you are an Asian you must fulfill your family destiny.

1. No dating during school it is a distraction.
2. Get good grades and go to a good college.
3. Get good job
4. Find a wife or husband immediately and get pregnant during the wedding night
5. Buy a house in safe area and grand parent will come and spoil grand children.

The cycle will repeat again for the next generation.

Since you are White you have other options. Lucky you!
 
[quote author="ck"]fe9000....I think you are seeing that all BK is trying to demonstrate is how TIC set the trap, and for a variety of reasons buyers are walking right into it. And the buyers are saying "enough already, BK --- we know we walked right into the trap, but the emotional satisfaction of owning a new home makes it an acceptable trade off". And that's ok. Everyone has to do what they feel is best for them.

But I do appreciate what BK is saying. My opinion is that TIC really does NOT hold pricing power over the public --- WE hold that power. We the public can make the choice to say "I am not going to pay that for that." And if enough of the public demanded it, TIC would have to provide an acceptable product for the money. Look at what happened to GM. To Chrysler. Were those acceptable products they were putting out? Heck, no. And enough people said we are not buying that, there are alternatives. And where did it get them? Well, a gov't bailout...but that's another conversation.

But there is clearly a lot of emotion drving the Irvine market, and BK is articulating the wild success TIC is having and will continue to have because they brilliantly know their market. And like IHO said --- it is inevitable to continue as long as enough consumers do not demand more for their money.

So we each can decide what is best to do based on those market circumstances. I wish everyone the best with their new homes, just like I'm sure you wish me the best in opting out. <!-- s;) -->;)<!-- s;) -->[/quote]

CK, I absolutely do!!! You know exactly what you want and need to do which is awesome.

Believe me, I do understand what BK is saying and I see it. As far as pricing power, I disagree. The market has the pricing power, not us. We are part of the market, but the market is not just us. From my view, TIC merely followed the market. As far as the product they delivered for the pricing, I agree it's not worth the price. But so are the rest of the resell. So again, it's back to the market. This is just my view.

Oh, this is still a thread about new home owners. So other new home owners or future new home owners please comment away
 
C'mon Asian renters about to becoming a homeowner. Why don't you share about your cultural pressure why you can't stand renting anymore? Here are a few of my observations:

1. If you are married then your in laws will give you hint that you are not taking care of their daughter well by renting. They would use the passive aggressive way to communicate to you to get out of an apt. Asian elders are not into being polite and worrying about hurting your feeling. If they are nice they will give you the better hints like " I have some money set aside for your down payment (since you don't have much money saved and we want to bail our daughter out from the miseries of living in a tiny apartment). This really made you feel like a loser and especially if you are non asian.


Most of my friends rent and my parents also think I'm crazy for buying a 600K house. My parents didn't buy their first home until they were about 35. Most of my relatives are on the east coast, so they don't really care where I live.


2. When there is a family function no one would suggests to have it at your apartment. It made you feel bad when the gatherings take place at other family members house and you feel left out.

I host plenty of parties in my lovely 1000 sqft condo! My place is crackin!

3. Your friends and families have BBQ's and baby showers at their home. You wanted to host and help out but you don't have a place big enough, with no yard, and the club house is taken and too impersonal.

See 2.

4. Your asian relatives give the that silent look that you are not successful because you don't own a house.

Stereotype! My family gave me no pressure to buy a place.


5. The Joy Luck Club comparison pressure among auntie and uncle relatives boasting about how well off your cousins are by having a house and they turned and look at you. "When are you going to buy a house?"

Stereotype! None of that going on here!

6. If you have a child then the relative pressure is unrelenting.

No children yet, but I doubt they would pressure me. Again, they think I'm crazy for spending 600K!

7. You can't wait to shock them that you bought in the most Asian respected city to have that guilty pleasure of "sweet revenge".

I love Irvine, but my parents and parents in-law never even heard of this mythical city until I went to UCI!

It's funny how white people stereotype asians....
 
[quote author="graceomalley"]
Since you are White you have other options. Lucky you!
[/quote]

LOL --- I'd have been camping out online for my registration spot, too --- But I had to put up with my Taiwanese mother in law shaming me for being a "fancy gwailo!"

(I made that last part up, I know gwailo isn't Mandarin, but I thought you'd appreciate that)
 
So... here are my responses:

1. If you are married then your in laws will give you hint that you are not taking care of their daughter well by renting. They would use the passive aggressive way to communicate to you to get out of an apt. Asian elders are not into being polite and worrying about hurting your feeling. If they are nice they will give you the better hints like " I have some money set aside for your down payment (since you don't have much money saved and we want to bail our daughter out from the miseries of living in a tiny apartment). This really made you feel like a loser and especially if you are non asian.


Most of my friends rent and my parents also think I'm crazy for buying a 600K house. My parents didn't buy their first home until they were about 35. Most of my relatives are on the east coast, so they don't really care where I live.


2. When there is a family function no one would suggests to have it at your apartment. It made you feel bad when the gatherings take place at other family members house and you feel left out.



I host plenty of parties in my lovely 1000 sqft condo! My place is crackin!




3. Your friends and families have BBQ's and baby showers at their home. You wanted to host and help out but you don't have a place big enough, with no yard, and the club house is taken and too impersonal.



See 2.




4. Your asian relatives give the that silent look that you are not successful because you don't own a house.




Stereotype! My family gave me no pressure to buy a place.





5. The Joy Luck Club comparison pressure among auntie and uncle relatives boasting about how well off your cousins are by having a house and they turned and look at you. "When are you going to buy a house?"





Stereotype! None of that going on here!




6. If you have a child then the relative pressure is unrelenting.




No children yet, but I doubt they would pressure me. Again, they think I'm crazy for spending 600K!




7. You can't wait to shock them that you bought in the most Asian respected city to have that guilty pleasure of "sweet revenge".




I love Irvine, but my parents and parents in-law never even heard of this mythical city until I went to UCI!



It's funny how white people stereotype asians....[EDIT: BK is asian! i did not know this!]

[/quote]
 
[quote author="scubasteve"]
It's funny how white people stereotype asians....

[/quote]

Funny responses, Steve. But you do know Grace/BK is Asian, right?
 
[quote author="ck"]
[quote author="scubasteve"]
It's funny how white people stereotype asians....

[/quote]

I like you post Steve. But you do know Grace/BK is Asian, right?[/quote]

Oh i didn't! haha... I would've never known since he talks so much crap about us! I will give you a hug Grace and take you to Disneyland. It will make happy again.
 
Asians cultures are not all the same depending on the Colonial power governing their country.

It is separated into 2 different groups.

group A :Mainland Chinese, Taiwanese, Korean, and Cantonese from HK and some Japanese share a very similar family culture. To many scholars the Chinese characters used in their writings are the reasons for sharing a similar doctrines.

The next group B are the SE Asians under centuries of foreign colonization long have abandoned both Chinese culture and writings for countries like Vietnam, Cambodia, Thailand, Tibet, Philippine, and Singapore. Although some Chinese fraction continued to live in these countries only some of their culture, superstition and beliefs survived through the present days. Some will find traces of Chinese bloodline in their family tree and some Chinese tradition could still have passed on to the present generation through strong family connection.

Scuba is Vietnamese and does not have the kind of cultural/ family pressure that I described for group A Asians.
 
[quote author="Panda "]fe9000,
When you mentioned that the lifestyle is changing, you are absolutely correct. The nice lifestyle is why we all want to buy in Irvine right? I personally like the 90s era of Irvine much more than I like the 2010 Irvine. A good lifestyle to me is a place where you can raise your kids and family in a nice, safe, clean area with good schools. Housing is affordable when you are making above the median household income in Irvine. An enviroment that encourages entrepreneurship where costs are reasonable to start up a new business in Irvine. I believe the 90s Irvine was like this, but not today. Irvine is now a mature city where the 1990s opportunity is long gone. Today, it takes a lot of resources for a typical family to make ends meet living in Irvine. I would say that if your household income is not above $150,000, (Top 25% percentile in Irvine), life can be pretty stressful.

Today, I could put my entire savings of 10-12 years and buy a Sonoma or Montecito, but i would have nothing else: savings, equity and private business investments and real estate investments. I consider that to be a stressful lifestyle. From an outsider looking in... Irvine seems to be a tough place to build your networth, become financially free, invest, and save as it requires a lot of your resources just to keep up with the Kims and the Wongs. I can easily see how one's entire savings goes into a Montecito and Sonoma, where you don't have much else to enjoy the "dream lifestyle" that Irvine is suppose to offer in their PR.

Another ethnic demographic change that BK mentioned concerns me about Irvine 2010-2020. Fully 80% of the new homes buyers are Asian in Irvine. I am an Asian American myself and love to live in a city that is diverse, however in the next ten years, I see Irvine's demographics changing to 70% Asians. Personally, this would not be very attractive to me. I've been in love with this city for 10 years, however in 2010 and beyond. I will keep my options open. I am very fortunate in that I have time and am in no rush. [/quote]

i've been in irvine since '91 and i agree with the overall evolution of the city. safe place, mason park was the main park, and i could eat for $3 at oriental kitchen... now... not so much...

you would think that $150K would be decent, but it's no where close to being enough IMO. assume you had 20% down for an $850K house. the rest of your payments could look like this:

mortgage 4000
prop tax 1200
assoc 150
insurance 150

total 5500

at those numbers, you'd need $18,333 in monthly income or $220K annually if a lender was asking for 30% DTI.
 
[quote author="graceomalley"]Asians cultures are not all the same depending on the Colonial power governing their country.

It is separated into 2 different groups.

group A :Mainland Chinese, Taiwanese, Korean, and Cantonese from HK and some Japanese share a very similar family culture. To many scholars the Chinese characters used in their writings are were the reasons for sharing a similar doctrines.

The next group B are the SE Asians under centuries of foreign colonization long have abandoned both Chinese culture and writings for countries like Vietnam, Cambodia, Thailand, Tibet, Philippine, and Singapore. Although some Chinese fraction continued to live in these countries only some of their culture, superstition and beliefs survived through the present days. Some will find traces of Chinese bloodline in their family tree and some Chinese tradition could still have passed on to the present generation through strong family connection.

Scuba is Vietnamese and does not have the kind of cultural/ family pressure that I described for group A Asians.[/quote]

What group would you consider yourself to be in?
 
This thread is so interesting, it almost drove away my jet lag! Stereotyping aside, hearty congratulations to all of you who bought. Thank you for saving premium prices in Irvine:) Woodbury is a nice place..

PS: Is Grace Grace only, or Grace+BK, or BK only these days?
 
BK is from Hong Kong where he lived in the slums in welded shipping containers. Old IHB forums have the pics he posted. His racial profiling of Asians are very accurate. He uses this profiling to consult developers like Irvine Co. on the best ways to profit from all that Asian money.

Obviously he hates these 2010 TIC homes because he always speaks badly of them. Maybe his company lost the bidding war to design them..who knows.
 
I hate homes with entries off the motor court regardless of who designed them. The front door is the soul to a home and it should be dignified even when all other facets have been stripped from the home. It is the only thing left and treated it with respect.


I would live in IHO's 3CWG before I would accept a front door buried into a motorcourt.

The few times I saw homes with a front door off the motor path were makeshift homes off the beaten path in third world countries, Tijuana and cluster homes in Westpark. At least for Westpark there is a front yard that separated the front door from the motorcourt.

IMG_4532.JPG
 
As houses evolved for thousand of years. The iconic images of wealthy homes and poor slum have not changed. The approach to the front door is what set the classes apart. It is the fundamental in housing layout for centuries.

Perception of home aesthetic is ingrained into all humans' DNA.

Children through out civilization have drawn houses with a steep gable, a door at the middle with windows flanking both sides but above the door subliminally drawn as an elevated defensible space, a chimney, and a path leading up to the front door with a tree to the side of the home.

A sun or a rainbow drawn at the background is the symbolism of light, space and a strong connection to a garden outside the home.
 
[quote author="nosuchreality"]What's a motor court?

Is it a communally shared driveway?[/quote]

A fancy word for a narrow shared car alley like CA room for a covered patio.

These terms help to escalate the class level and lessen the negative connotation.
 
[quote author="graceomalley"]
I would live in IHO's 3CWG before I would accept a front door buried into a motorcourt.
[/quote]
YES! I'm one tier above a motorcourt.
 
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