Culture is a key element that as an investor you will have to consider. Asian American community has a smart culture that you will develop a liking to. Much more on a perpetual growth, you have to learn how to serve the clients from their own cultural dimension. Asian community culture is one very simple both to understand and to take advantage of. Developing the kind of homes that meet the standards will help you maximize your performance on this market. Using the cultural context of the Asian American community, this could help you to effectively prosper in this market. THE AAPI IN RELATION TO ASIAN AMERICAN HOMEBUYERS The AAPI are the initials standing for the Asian American and Pacific Islander, you must understand the role of this body to maximize your gains in this industry. This body comprises of the 116 | MAY 2022
countries that make up the Asia islands- also called the Pacific islands. In total, the countries are 40. Currently, it is estimated that AAPI consists a population of not less than 19.5 million people. Here is the big fish that as an investor you must be willing to try and catch, by 2050, the general population of the AAPI is expected to rise by 134% meaning that, the population is growing creating a huge market for homes. The demand is rising. Looking at the homeownership rates for the AAPI which the US Census Bureau began reporting as at July 2016, there is a
sluggish growth rate compared to other communities such as the Non-Hispanic Whites. As at the second quarter of 2016, the AAPI had the second highest rate of homeownership of any segment of the population, standing at 53.7% THE TOTAL PURCHASING POWER FOR THE AAPI On a general note, this looks great, the Asian American produced 2 million in loans and for the mortgages, this averaged to about $600 billion in originations. It is quite interesting because the average loan balance for this community is at about $300,000 making it
PHOTO FROM HIVEBOXX ON UNSPLASH
predominant in most parts of the U.S. Dealing with the community is not that simple but at the same time, it is also not so hard. All you have to do is develop skills and the abilities to evaluate the size and the potential of growth, as far as investment in residential real estate is concerned, in the Asian American community.
