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Strategies & Market Trends : The Residential Real Estate Crash Index
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To: SouthFloridaGuy who wrote (6311)10/28/2002 3:02:50 PM
From: Michael SpharRead Replies (1) of 306849
 
It is interesting to read your Eastern perspective of the immigrant situation. Here is Silicon Valley, where I have long been the obvious "minority", when I'm a commuter stuck in traffic driving my Ford Explorer home to my 50 year old middle class fixer upper, I invariably find myself surrounded by late model Lexus's, Beemers and Infinitis being driven home to their West Valley millionplus dollar digs by the Chinese and other Asian immigrants who have no intention of ever going back to the land where they or their parents were born, except as tourists. SV has grown to greatness on the backs (or more to the point) on the highly educated intelligence of this latest wave of American immigrants. Clearly the vast majority of upper middle class wealth in this area resides in the hands of these highly educated and motived immigrants. Its us 6th generation American white boys that are the clear anachronism around here. One of the key lessons I've learned from these immigrants? Buy quality real estate and keep it forever. And of course its corollary, Buy quality income producing real estate and keep it forever also. The only thing shaky about the real estate around here is the San Andreas Fault line.
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