Allstocks.com's Bulletin Board: Post A Reply

Post A Reply
my profile login | register | search | faq | forum home

»	Allstocks.com's Bulletin Board » Off-Topic Post, Non Stock Talk » Plan to Solve Crisis: Let Immigrants Buy Houses. » Post A Reply

T O P I C R E V I E W
Bob Frey	posted Plan to Solve Crisis: Let Immigrants Buy Houses Posted Mar 19, 2009 03:52pm EDT by Aaron Task Related: XHB, TLT, TOL, DHI, PHM, UUP, ^DJI The Fed's actions to lower mortgage rates won't stop home prices from falling, because lower rates aren't enough to sop up the huge supply of excess housing inventory, says John Mauldin, president of Millennium Wave Advisors and author of the popular "Thoughts from the Frontline" e-letter. Instead, Mauldin believes the U.S. government should pursue a controversial idea that's been floated a few times in the past year, including here by Gary Shilling, among others: give immigrants a pathway to citizenship if they buy a house. The economic benefits of this concept are potentially powerful: * An inflow of foreign money into the U.S. economy, which will both boost the dollar and the economy because of related spending. * Help sop up the supply of excess homes on the market, which will help put a floor under prices and revive the construction industry, creating jobs. * Help shore up America's middle class. This assumes most immigrants with the money to buy a home are educated, white-collar workers who can help do what immigrants have done throughout U.S. history - energize the country as they pursue the American dream. http://finance.yahoo.com/tech-ticker/article/212121/Plan-to-Solve-Crisis-Let-Imm igrants-Buy-Houses?tickers=XHB,TLT,TOL,DHI,PHM,UUP,^DJI?sec=topStories&pos=4&ass et=TBD&ccode=TBD
glassman	posted This assumes most immigrants with the money to buy a home are educated, white-collar workers who can help do what immigrants have done throughout U.S. history - energize the country as they pursue the American dream. traditioanlly we've rarely recruited this class of immigrant... we recruit the laborers. people that we can make home loans to must have jobs, and they have to have been here for several years to qualify... even a US citizn like Cash cow had trouble getting a home loan cuz he was starting his own business... well established foreigners are not likely to uproot and come here to start over without major incentives. rich Chinese will buy here and set up business in both countries, basically taking more jobs out of the country...
retiredat49	posted quote: Originally posted by glassman: [b] rich Chinese will buy here and set up business in both countries, basically taking more jobs out of the country... That is exactly what will happen Typical short term shallow thinking here by our half witted leaders... Lets put a band-aid on the immediate housing crisis and not worry about selling out the middle class jobs in the process...
IWISHIHAD	posted I did not know giving immigrants a pathway to gain citizenship made any differance in them purchasing houses or businesses here. They have been doing that for years. The city i grew up in is now mostly Asian. The junior high is 74% Asian. They have the money and buy up these older houses, pay cash and bulldoze most of them, puting up houses that cost several million to build. They have been doing that for the last 20 years. If the price is right they will come in big numbers... and the price is right
glassman	posted if the price is right they will come in big numbers the exchange rate of the yuan is not quite favorable enough yet... it's two edge sword... they can't get enough dollars for their yuan to immigrate, and if they could exchange them? then they would not be nearly as profitable in their businesses in China... we absorbed alot of Japanese capital and then the Japanese economy settled... people say they lost a decade, but it sure looks to me like Toyota didn't lose anything
T e x	posted you know, it was pretty slick what happened here. The majority of the good, older homes are now in the hands of "ethnics." As some of you know, I've spent hours and hours sifting through neighborhoods to find myself a new home. The places I'd like to buy? In most neighborhoods, those good old homes are NOT being foreclosed. Those folk got their deals years ago, and they're hanging on to 'em. The neighborhoods rife with foreclosures are McMansions and Jr. McMansions... None of which I care to buy...
Relentless.	posted Canada has a similar clause.. To immigrate you have to be willing to invest. I forget the # but I think it was like $40,000...
Machiavelli	posted quote: Originally posted by T e x: you know, it was pretty slick what happened here. The majority of the good, older homes are now in the hands of "ethnics." Wow Tex, no offense but that kind of sounded a little "prejudicial". Only "non-ethnics" are allowed to have good, older homes?
T e x	posted lol, nope--I'm saying the folks who saw a bargain jumped on 'em and kept 'em. Barbie and Ken fell in the McMansion trap, and overpaid big time for sprawling, "custom" homes that are full of crap, costly to maintain and hard to heat and cool.
glassman	posted quote: Originally posted by Machiavelli: quote: Originally posted by T e x: you know, it was pretty slick what happened here. The majority of the good, older homes are now in the hands of "ethnics." Wow Tex, no offense but that kind of sounded a little "prejudicial". Only "non-ethnics" are allowed to have good, older homes? that's what i heard, if it was prejudicial it was against the Baptist WASPs.
Relentless.	posted lol