Note that it doesn't say, "French, Germans, Saudis, and Japanese on work visas", it says "Indians, Chinese, Mexicans, and Filipinos". Every one of these groups is from a third world country not known for having a lot of rich folks who can afford 700K houses. Not to say there aren't rich people there, but there are a lot fewer of them than in first world countries, and I just don't see them having a lot of effect on our housing market.
Um… I think you're walking into this one….Since when is China and India considered third world today?