why is that relevant?
Different mindset, that's all.
In some cultures the people expect a man who makes money to take care of extended family.
In the US it's only expected that you take care of your nuclear family and maybe the parents or the grandchildren, but not cousins and aunts.
My mother's boss is Iranian, he's expected to contribute financially to his brothers, his aunts, his cousins.
Generally in the US if you buy a lot of houses, you're an investor, hoping to make money but if not, careful to not get over-extended, careful to not lose money.
But if you're buying houses so the extended family all has houses, then you don't have the profit motive, and operate more on trust and hope.
I have represented one native born American family who bought a second house that a relative lives in, but the relative is their son, and he's going to college so it's an alternative to living in a dormitory, and they're not dumping either house, they're in Chapter 13, the repayment plan. |
