There's a trickle-down effect. William is a biochemist, while Wang helps manage the family business that manufactures plastic bags in Oakland. Affordability and commute time were the couple's two top criteria. Oakland is fast becoming a tough buyers' market. Helen Chin, a Prudential agent, said that in the past five years, shrinking inventory has become dire in places like Montclair and Piedmont.
Asian culture influences real estate in ways beyond migration patterns.
Experts accustomed with Asian culture say feng shui, numerology and other beliefs can impact the way Asian-Americans approach buying homes. Because Asian-Americans comprise a number of ethnic backgrounds, there is widespread diversity. That's not preventing builders or agents, however, from adding nuances to their business customs considered appealing to Asians. That's fueling demand for the consulting side of CMG's business. Many brokerages, too, have added training to help agents serve Asian buyers.