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Home ownership among Asians increases in Bay Area

Original post made by wsj, another community, on Feb 11, 2010

According to the Wall Street Journal, "the 10 most common surnames among Bay Area home buyers last year were Vietnamese, Chinese or Korean".

Article here: Web Link

I have 3 questions.
1. is their data statistically meaningful?
2. why is this any of Wall Street's business?
3. on the other hand, new home buyers pay the highest property taxes and also have the most kids in public schools. Should local communities be sensitive to the needs of these home buyers? Like maybe allow one Asian grocery market in town?

Comments (5)

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Posted by Aaron
a resident of Palo Alto Hills
on Feb 11, 2010 at 5:26 pm

This bodes well for academic achievement in the Bay Area. It also means that our property values will do relatively well.

Like this comment
Posted by Resident
a resident of Another Palo Alto neighborhood
on Feb 11, 2010 at 5:39 pm

I don't think this surprises anyone living here, but if we make any comments I expect the editors will delete them.

Like this comment
Posted by Lies and Statistics
a resident of Barron Park
on Feb 11, 2010 at 5:54 pm

Or perhaps it has to do with the fact that there are fewer unique Asian surnames. For example, if 1000 homes were sold to 998 Caucasians with different last names, but 2 with the last name "Nguyen", then a Vietnamese surname would be the most common surname even though they represent less than 1% of the total home buyers. A better statistic would simply be the percentage of homes sold to Asian buyers.

Like this comment
Posted by wsj
a resident of another community
on Feb 11, 2010 at 5:58 pm

I'm guessing that there is no official data on the number of homes sold to members of each ethnic group, so journalists have to make up easily computed metrics like this. On the other hand, it is kind of interesting that all 10 of the most common names are Asian-sounding names.

Like this comment
Posted by Outside Observer
a resident of another community
on Feb 11, 2010 at 7:58 pm

Quote from a Steely Dan song, updated for the 21st century:

"You are obsolete, look at all the Asians on the street"

Chuc Mung Nam Moi! :)

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