One's home is probably the most important asset one can own. In addition to providing shelter, it affords stability and makes it easier to obtain credit. In Wisconsin, the ratio of home ownership relative to the general population is about 25 percent. In the Asian community it is about 8 percent. The median value of homes in general is about $112,200; in the Asian community, the median value of the home is about $122,200. As a recent immigrant population, this make sense. But in order to establish ourselves as a political force, we have a long way to go.
Real estate has always had political implications. From zoning laws, to schools, to building permits, to the land grabs of the old West, politics has played a key role in the development of real estate. This is not necessarily a bad thing. Today, we live in certain areas, work in other areas and shop in yet other areas. With high energy costs and new technology, many are questioning the wisdom of our present zoning laws. Why drive 10, 30, or 60 minutes to work, when you may be able to walk? We need to rethink our zoning laws and change them to reflect the realities of the 21st century. Asians have emigrated from countries where the amount of land available, relative to the population, is low. In America, it is relatively high. The great debate now in the United States is on how to accommodate the increasing population, while at the same time keeping our quality of life. Having experienced the problems of allocating resources due to a rapidly increasing population, it is incumbent on us as Asians to lend our wisdom to the debate.
John S. Pinto is a longtime Madison resident and owns Delta Vending Services and Delta Enterprises, which deals in real estate. |
