A clown world.

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[–]WrongToy 7 insightful - 1 fun7 insightful - 0 fun8 insightful - 1 fun -  (8 children)

The Sunset's typical home value is over a million dollars now. Let's not pretend they are all Horatio Alger stories free of racism themselves. You live there so you know what the attitude is toward Lowell. It's like people's mission to get their kid into Lowell and that's often what they care about more than their kid's mental health.

Asians are just OTHER PEOPLE. They are not more inclined toward mechanical engineering, or medicine, or Big Tech, or anything else. Their culture can be insane on kids.

[–]Shinjin_Nana 5 insightful - 1 fun5 insightful - 0 fun6 insightful - 1 fun -  (7 children)

Home value isn't always derivative of personal wealth. If you bought the home before the spike you would have to sell it to see that wealth as liquidity to reinvest in other things. That wealth only exist once it is cashed out, much like stocks.

There's a popup food bank across from where I live and there are plenty of people there of all ages and stripes. My own landlord sends his wife a couple times a week and their house is definitely over a million.

There's no such thing as being free of racism. The Asians here thrive to spite it. When white businesses wouldn't serve them, such as banks, they made their own banks, their own green grocers etc. They saw these things as business opportunities. You don't have to live in some anti-racism scrubbed utopia to find your way to wealth.

"Asians are just other people, not inclined toward... etc" So is everyone else. Why bother talking about ethnic groups, sex classes, or wealth classes if this is the case. So everyone is an individual who should rise and fall based on individual traits, and the culture that raised them plays no part?

[–]WrongToy 7 insightful - 1 fun7 insightful - 0 fun8 insightful - 1 fun -  (6 children)

If you own in the Sunset you have multimillion dollar options. Sorry, but that's the way it is. Sure you can not be taking in income, but then you have the option of a second mortgage or reverse mortgage.

There hasn't been anti-Asian financial discrimination in SF, and especially the Sunset, for the past half century. Well, unless you count Lowell. And that got consent decreed so that Chinese Americans had less of an advantage than say, Filipinos or APIs.

A lot of Asian culture is INSANE. Let's face it, very few can be the best but Asians drive and drive their kids to the brink of mental health issues and sometimes suicide over not living up to their insane standards. Lowell. Cal. Julliard. Whatever they can brag about to their other friends.

[–]Shinjin_Nana 2 insightful - 1 fun2 insightful - 0 fun3 insightful - 1 fun -  (5 children)

Now you're pretending that their good sense to buy up most of San Francisco when it was cheap just popped out of nowhere. Also a second mortgage is not wealth. It's debt.

Of course there isn't financial discrimination against Asians. They have no fewer than three Asian focused banks here (East-West, Bank of the West, and Bank of the Orient, which was the first), build by Asians for Asians. Here's more information about Chinese banking on the West coast: https://imdiversity.com/villages/asian/a-history-of-chinese-american-banking-in-los-angeles/

They knew they were financially underserved and didn't wait for old ytee to fix it for them, and there is generational wealth because of it. It became their business and the business they passed down to their children.

We were talking about how to build generational wealth, not mental health issues. I'd rather drive a kid crazy trying to get into a good school then having them shot on the street playing gangsta. But, pick your poison, I guess.

[–]WrongToy 4 insightful - 1 fun4 insightful - 0 fun5 insightful - 1 fun -  (4 children)

The multimillion-dollar asset still stands. Yes it's debt against your house. You are milking it BUT you have it. I'm not a big believer in generational wealth and I'm not a big believer in torturing children either over status either. Maybe some of them are JUST HAPPIER going into skilled trades, haircutting or having a liquor store or working for UPS or driving Uber.

Those are just as valid careers as being a bank consultant, or a doctor, or a lawyer or whatever. Besides the doctors, I'd say they've been less necessary recently than the above.

[–]Shinjin_Nana 1 insightful - 1 fun1 insightful - 0 fun2 insightful - 1 fun -  (3 children)

But it's just an asset that can as easily be devalued as it can be milked. It's not actual liquid wealth until it's sold.

Well, if you don't believe in generational wealth, or think that valuing education and getting a kid into a good school is just for status, then I don't know why we're bothering to discuss this at all.

I work as a self-employed freelance artist and know that being poor (18-20k annual gross) and happy (and loaded with student loans lulz) is a thing, it's my lived reality. BUT I also understand that it's a privilege of the family and culture that raised me and I rely on peace in the neighborhood that I choose to inhabit.

I can be poor and happy in a low crime area because others before me have made it possible.

You're trying to skip that intermediary step that stabilizes the home environment and I think at this point you're mixing generalities and race/class disparities with individual goals and pursuits and it is not adding to the discussion.

I have nothing more to say on this.

[–]WrongToy 2 insightful - 1 fun2 insightful - 0 fun3 insightful - 1 fun -  (2 children)

You stipulated that you're living in the Sunset. You can't live there on $20K unless you're sitting on a pile of money along with your house, or are using your house, unless you are a descendant using your parents' house, or a friend of such a descendant.

I'm guessing you are among the latter. That really doesn't make you oppressed like people in, say, Sunnydale. Or like those who used to live in Diamond and then exited when the public housing thing ended. You probably think they're losers who are better off in Richmond (for you) and if they'd only had asshole parents they'd be better people. I can't even with that.

I'm dogging you because look, I know. Anyone who has shelter let alone home ownership is in no way poor. If you are you aren't worried about conserving your assets. You are worried about paying your pg&e bill.

[–]Shinjin_Nana 1 insightful - 1 fun1 insightful - 0 fun2 insightful - 1 fun -  (1 child)

I rent an 11X15 foot rent controlled room in a home I don't own. I literally said 'my landlord' in a previous reply so I have no idea how you get that I'm a home owner other than lack of reading comprehension. I moved to San Francisco in 2008 to go back to grad school via loans when I lost my job in the housing crisis.

My life is simple and I am content with it, and I live in the Sunset on 20K a year, so I know it's possible.

I am not saying I'm oppressed. I was talking about minorities being successful, so I don't know where you're getting that from, either. But thanks for playing.

[–]WrongToy 2 insightful - 1 fun2 insightful - 0 fun3 insightful - 1 fun -  (0 children)

I'll speculate that you have that room, possibly, because you have "cultural" ties with the landlord. Good luck with blacks and browns in the Sunset. Notice they're not around you?

If you have loans to a private school it is typical for parents to cosign, too.