Brief Summary: The generational transfer of wealth, which depends on both cultural norms and individual family finances, seems to have a clear impact on home buying, according to many interviews with home buyers and mortgage lending experts.

Interviews with those in the Asian community revealed how many moved to Northwest Arkansas to earn their masters and doctorate degree and how when the time came to consider buying a home, they received help from family.

Mohammed Khaja, who now works as a research engineer at Silicon Solar Solutions, moved to Fayetteville from Hyderabad, India about ten years ago to earning his masters in electrical engineering at the University of Arkansas. His wife, Shaik Tahareem, moved to Fayetteville a year ago and Mohammed thought it was time to look for a house, he said. His father, who still lives in India and commutes to southern Arabia for work, was the first to suggest buying a home.

“He instigated all the ideas to me,” he said. “… He was ready to send the money for me to cover the down payment as well. So, he is very supportive I would say. Usually, I would say that is the same case in all of India: the parents will support the child to buy a house.”

As seen in previous interviews with the Korean population in Fayetteville, Mohammed said having a supportive community is one of the top concerned for him and his family when choosing a home. Second, would be close proximity to his work and third would be price, he said. His family along with three other Indian families are in the process of building homes with Rausch and Coleman on the edge of Fayetteville near Farmington.

Full transcript of the interview: mohammed_dec1_interview