House Cure is to bring in more immigrants?

[hakrjak]

Interesting take on improving the housing market...

Housing Cure Give Us Your Skilled Your Educated Your Bundled Mortgages: Tech Ticker, Yahoo! Finance

 

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[andviv]

I hope this thread does not become a problem one, due to the sensibility of the topic.

 

[kwerner]

One question, is this guy referring to LEGAL or ILLEGAL immigrants?

I think if you read between the lines, he's suggesting that we allow ILLEGAL immigrants to buy the homes.

With brilliant ideas like that *sarcasm*, he ought to run for president. :iamwithstupid:

 

[hakrjak]

I don't think so -- maybe I'm wrong, but it looked pretty clear to me that he was suggesting legal immigrants and people on H1B Visas be stimulated to get into the housing market somehow.

I've been a proponent for some time now for getting foreigners with money to jump into our market here and get it going. He uses the example of Canada, where apparently they have a program for anyone with $400k cash to be able to speed up their immigration process so they can buy a home, etc...

Cheers,

- Hakrjak

 

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[hatterasguy]

1 million households are created a year in this country, and almost everyone wants to own their own home. We will eat the inventory up, it will just take time.

 

[hakrjak]

The funniest line in that interview in the video was when the old guy said, "Some people say World War 2 did a hell of a job getting rid of obsolete inventory in Europe!" haha

- Hakrjak

 

[Bilgefisher]

I think the legal immigrants can very much help the housing market. In fact I believe that's why housing has grown so well over the last century.

Unfortunately illegal immigrants have hurt the housing market, at least here in Denver. I only have speculative data, but several investors and brokers in this area have have claimed many of the REO are due to illegals. Properties obtained with false SSN or minor's SSN. Since the economy has turned, many have simply packed up and gone back to their home countries. There is little reprocussion that can affect them.

What I would like to see is the actual numbers to back this up. It may well be overblown due to emotions on the subject. I'm not sure how you would determine this with much of the incorrect data that was used to obtain these homes in the first place.

 

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[hatterasguy]

The funniest line in that interview in the video was when the old guy said, "Some people say World War 2 did a hell of a job getting rid of obsolete inventory in Europe!" haha

- Hakrjak

Thank you US Army Air Corps! Nothing clears a city block like 1,000 B17's....