Post wildfire, resale of vacant lots in Altadena

[Joe Flacco]

You make it sound as if Chinese developers only want to sell to Chinese people and Armenian developers only want to sell to Armenians. They are developers in the game for profit. They don't give a **** who the end buyer is.

 

[glenn walker]

Developers don't go where their people are. They go where ever there is money to be made. The fact that there are Armenian people or Chinese people in the area is irrelevant.

No that's little Armenia and a tight knit community who stick together. That's also in a market area comprised of large Chinese population centers. This area is often like small Nations within certain cities.

 

[George Hatch]

You make it sound as if Chinese developers only want to sell to Chinese people and Armenian developers only want to sell to Armenians. They are developers in the game for profit. They don't give a **** who the end buyer is.

I'm not making any moral judgements on the issue. I simply made an observation about the prevalence of all-cash financing as well as the presence of investor activity. And no, you will not these particular groups going just anywhere there is a dollar to be made.

SOMEBODY is going to build out all those parcels. There's no reason why it shouldn't be these investor groups or any other. We're not talking about the CCP building next to a missile base.

 

[Joe Flacco]

No that's little Armenia and a tight knit community who stick together. That's also in a market area comprised of large Chinese population centers. This area is often like small Nations within certain cities.

Doesn't matter. Chinese developers aren't buying lots to expand the Chinese area. They are buying to make money. They don't care who the buyer is they are developers just like all other developers. They sell the house to whoever pays the most money.

 

[glenn walker]

I'm not making any moral judgements on the issue. I simply made an observation about the prevalence of all-cash financing as well as the presence of investor activity. And no, you will not these particular groups going just anywhere there is a dollar to be made.

They raise Capital from Chinese Investment funds both in Taiwan and Mainland China.

The Hong Kong Cantonese Speaking Chinese seem to prefer more NYC or LA Skyscraper types of real estate.

 

[Joe Flacco]

A lot of developers are funded by foreign investors.

Developers don't buy lots because it is near their people. It's a ridiculous idea. They buy because there is profit to be made.

 

[Joe Flacco]

American developers don't go to other countries and buy lots where all the Americans live. How ridiculous. Developers are developers.

 

[George Hatch]

And yet that's exactly what has been happening in this region for many years. You know what they say - all RE is local. I can tell you were these particular investors are not going: everywhere else in the region. I know this for a fact because I can (and already did) search these buyers by name.

Chinese buyers do buy land out in the desert but I think those actually are foreign nationals buying low cost land sight-unseen, immigration-related.

 

[glenn walker]

A lot of developers are funded by foreign investors.

Developers don't buy lots because it is near their people. It's a ridiculous idea. They buy because there is profit to be made.

I think we know a little more about the Altadena and Palisades land and developer investors than you.

No offence but this is not Chicago or NYC which like us also have area's carved up into different ethnic classes and investors.

 

[glenn walker]

You don't know what you don't know..lol