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by CareyBot

Many Asians in the U.S. say their lack of knowledge about the home-buying process could delay or prevent them from purchasing a home, according to a study by Freddie Mac released today. The Asians who participated in the study also say they need to feel financially ready, stable and secure before they can consider buying a home, according to the new report, "Homeward Bound: An In-depth Look at Asian Homebuyers in the United States." The mortgage giant conducted 30 focus groups in mid-2005 of nearly 300 Chinese, Korean, Vietnamese, Asian Indian and Filipino immigrants, American-born Asian consumers and Asian real estate professionals to gain a better understanding of the cultural norms and expectations of Asian first-time home buyers. Although the focus groups revealed many differences am...