4S Ranch gets a second wind.

[kewp]

Sony has lots of artists and administrative staff here, especially supporting Sony online.

They are not paid very well and they expect lots of unpaid overtime.

I know because they have tried to recruit me in the past!

[kewp]

How about giving a green card to anyone who can buy a house in America with cash? Would that help RE?

I posted that very same idea elsewhere! I think it would help with an early bottom, at least.

Not cash however, if thats the case foreigners will just get a mortgage from an overseas bank and the interest will flow out of the country. Better to stick them with something stateside and make them a home-debtor just like everyone else!

[kewp]

How about giving a green card to anyone who can buy a house in America with cash? Would that help RE?

I posted that very same idea elsewhere! I think it would help with an early bottom, at least.

Not cash however, if thats the case foreigners will just get a mortgage from an overseas bank and the interest will flow out of the country. Better to stick them with something stateside and make them a home-debtor just like everyone else!

[kewp]

How about giving a green card to anyone who can buy a house in America with cash? Would that help RE?

I posted that very same idea elsewhere! I think it would help with an early bottom, at least.

Not cash however, if thats the case foreigners will just get a mortgage from an overseas bank and the interest will flow out of the country. Better to stick them with something stateside and make them a home-debtor just like everyone else!

[bsrsharma]

Kewp,

Well, USCIS (ex INS ) has a Green card for $ program (investor preference), but it has not done well. We shouldn’t extrapolate based on poor (and not so rich) immigrants. Really rich people like to go to Europe (Switzerland, Liechtenstein etc.) and Caribbean (Caymans, Bahamas etc.). In fact the trend is US Billionaires emigrating (usually to Caribbean) to avoid IRS!

———————————————————–
What GAO Found

The number of visas granted under the EB-5 category has been a small
fraction of the approximately 10,000 allocated annually by the authorizing
legislation. According to State Department records, a total of 6,024 visas
have been issued to immigrant investors and their dependents since 1992. As
of June 2004, 653 investors (not including dependents) had met this
immigration category’s requirements and received permanent legal resident
status.
——————————————————–

[bsrsharma]

Kewp,

Well, USCIS (ex INS ) has a Green card for $ program (investor preference), but it has not done well. We shouldn’t extrapolate based on poor (and not so rich) immigrants. Really rich people like to go to Europe (Switzerland, Liechtenstein etc.) and Caribbean (Caymans, Bahamas etc.). In fact the trend is US Billionaires emigrating (usually to Caribbean) to avoid IRS!

———————————————————–
What GAO Found

The number of visas granted under the EB-5 category has been a small
fraction of the approximately 10,000 allocated annually by the authorizing
legislation. According to State Department records, a total of 6,024 visas
have been issued to immigrant investors and their dependents since 1992. As
of June 2004, 653 investors (not including dependents) had met this
immigration category’s requirements and received permanent legal resident
status.
——————————————————–

[bsrsharma]

Kewp,

Well, USCIS (ex INS ) has a Green card for $ program (investor preference), but it has not done well. We shouldn’t extrapolate based on poor (and not so rich) immigrants. Really rich people like to go to Europe (Switzerland, Liechtenstein etc.) and Caribbean (Caymans, Bahamas etc.). In fact the trend is US Billionaires emigrating (usually to Caribbean) to avoid IRS!

———————————————————–
What GAO Found

The number of visas granted under the EB-5 category has been a small
fraction of the approximately 10,000 allocated annually by the authorizing
legislation. According to State Department records, a total of 6,024 visas
have been issued to immigrant investors and their dependents since 1992. As
of June 2004, 653 investors (not including dependents) had met this
immigration category’s requirements and received permanent legal resident
status.
——————————————————–

[kewp]

bsrsharma,

The hyper-rich will always be moving around to tax-havens. Thats a luxury of extreme-liquidity!

What about something real simple; close on a house (with a domestic underwriter) and instant-citizenship? I would think lots of illegals would jump at the chance, pool their resources and buy up property, especially in the IE.

[kewp]

bsrsharma,

The hyper-rich will always be moving around to tax-havens. Thats a luxury of extreme-liquidity!

What about something real simple; close on a house (with a domestic underwriter) and instant-citizenship? I would think lots of illegals would jump at the chance, pool their resources and buy up property, especially in the IE.

[kewp]

bsrsharma,

The hyper-rich will always be moving around to tax-havens. Thats a luxury of extreme-liquidity!

What about something real simple; close on a house (with a domestic underwriter) and instant-citizenship? I would think lots of illegals would jump at the chance, pool their resources and buy up property, especially in the IE.

[temeculaguy]

4-S is a nice area and has a lot going for it, so does Rancho Bernardo, Scripps, Poway and much of 56 corridor. The reason 4-S gets alot of attention on these boards as a place to watch in the downturn is that most of it was purchased during the bubble years when almost all the financing was toxic or near toxic and is more susceptible to distress. Most of the owners of the homes owe a large percentage of their value and some if not many will become upside down which is not the case in the older upscale areas. Most, not all of the owners in the older areas are sitting on enough equity to easily ride things out and have comfortable fixed payments. Residential real estate pricing has a lot to do with comps and comps are decided based on proximity. IMO, 4-S has the greatest propensity to overshoot the downside in the coming year or years that other higer end areas just based on when it was built and financed. Buying in 4-S now would be a terrible mistake but keeping your eye on it over the next 24 months would be very wise indeed.

[temeculaguy]

4-S is a nice area and has a lot going for it, so does Rancho Bernardo, Scripps, Poway and much of 56 corridor. The reason 4-S gets alot of attention on these boards as a place to watch in the downturn is that most of it was purchased during the bubble years when almost all the financing was toxic or near toxic and is more susceptible to distress. Most of the owners of the homes owe a large percentage of their value and some if not many will become upside down which is not the case in the older upscale areas. Most, not all of the owners in the older areas are sitting on enough equity to easily ride things out and have comfortable fixed payments. Residential real estate pricing has a lot to do with comps and comps are decided based on proximity. IMO, 4-S has the greatest propensity to overshoot the downside in the coming year or years that other higer end areas just based on when it was built and financed. Buying in 4-S now would be a terrible mistake but keeping your eye on it over the next 24 months would be very wise indeed.

[temeculaguy]

4-S is a nice area and has a lot going for it, so does Rancho Bernardo, Scripps, Poway and much of 56 corridor. The reason 4-S gets alot of attention on these boards as a place to watch in the downturn is that most of it was purchased during the bubble years when almost all the financing was toxic or near toxic and is more susceptible to distress. Most of the owners of the homes owe a large percentage of their value and some if not many will become upside down which is not the case in the older upscale areas. Most, not all of the owners in the older areas are sitting on enough equity to easily ride things out and have comfortable fixed payments. Residential real estate pricing has a lot to do with comps and comps are decided based on proximity. IMO, 4-S has the greatest propensity to overshoot the downside in the coming year or years that other higer end areas just based on when it was built and financed. Buying in 4-S now would be a terrible mistake but keeping your eye on it over the next 24 months would be very wise indeed.

[Coronita]

vrudny, you were smart to marry a hot Chinese woman. She'll stay young, beautiful and thin for a long time. I come across as shallow also so I know what you mean. 🙂 I'm sure she's very intelligent as well. No wonder you're able to take advantage of investment opportunities in China. BTW, I agree with your post on the rise of China on a different thread. Your kids will definitely have a leg up in the 21st Century. Make sure they spend the summmers in China learning Mandarin. About Vancouver, I don't love the city for the weather. I love it for winter sports and for the excellent chinese food. Downtown Vancouver is also pretty nice.
Marrying her is the smartest move I made all my life. I looked for a woman that has far better character than mine, and found one in her.

>>>She arrived here from China four years ago. She got her BA in education; then she got her Masters in Education; then she starting working for Stanford University during the summer, and she’s been hired by Palo Alto school district (the Del Mar of Silicon Valley). That’s four years in America. She’s going to do a PhD at Stanford next. Amazing. If she keeps this up maybe I can retire early. 🙂

 

Just one word of caution though vrudny… Unless your wife is still a citizen in china, China is closing investments to most foreigners. As such, the only way around this would be to have asset's in your wife's name if she is still a citizen or one of her relative(s) name (if she already naturalized here). As such, you as a gualo, have no legal claims to the asset. I hope you trust your wife and or her relatives (if she is going that route). The only reason why I'm bringing this up is because I'm pretty much in the same boat. My wife got her U.S. citizenship, and she wanted to put more "investments" in china. Problem is, it would have to be mostly in her relative's name, and I(we) would have no legal claim. As such, as much as I want to pour things into china, my own cautious mind tells me mixing money with relatives isn't a good idea, so we've stayed away from big investments. The reason being is culturally, the family is very tight. It doesn’t matter you are married. Quite often, your spouse will be closer to his/her relatives for the first couple of years of marriage.
IF something sour happens wrto finances, you will be out of luck, because you are placing your faith in not just your wife’s hands but whoever is running assets on her behalf.

That aside, China imho is one big bubble. It's scary how much "control" the government has in deciding economic policies at whim. For that reason, I again, wouldn't bank a lot in china as a foreigner.

[Coronita]

vrudny, you were smart to marry a hot Chinese woman. She'll stay young, beautiful and thin for a long time. I come across as shallow also so I know what you mean. 🙂 I'm sure she's very intelligent as well. No wonder you're able to take advantage of investment opportunities in China. BTW, I agree with your post on the rise of China on a different thread. Your kids will definitely have a leg up in the 21st Century. Make sure they spend the summmers in China learning Mandarin. About Vancouver, I don't love the city for the weather. I love it for winter sports and for the excellent chinese food. Downtown Vancouver is also pretty nice.
Marrying her is the smartest move I made all my life. I looked for a woman that has far better character than mine, and found one in her.

>>>She arrived here from China four years ago. She got her BA in education; then she got her Masters in Education; then she starting working for Stanford University during the summer, and she’s been hired by Palo Alto school district (the Del Mar of Silicon Valley). That’s four years in America. She’s going to do a PhD at Stanford next. Amazing. If she keeps this up maybe I can retire early. 🙂

 

Just one word of caution though vrudny… Unless your wife is still a citizen in china, China is closing investments to most foreigners. As such, the only way around this would be to have asset's in your wife's name if she is still a citizen or one of her relative(s) name (if she already naturalized here). As such, you as a gualo, have no legal claims to the asset. I hope you trust your wife and or her relatives (if she is going that route). The only reason why I'm bringing this up is because I'm pretty much in the same boat. My wife got her U.S. citizenship, and she wanted to put more "investments" in china. Problem is, it would have to be mostly in her relative's name, and I(we) would have no legal claim. As such, as much as I want to pour things into china, my own cautious mind tells me mixing money with relatives isn't a good idea, so we've stayed away from big investments. The reason being is culturally, the family is very tight. It doesn’t matter you are married. Quite often, your spouse will be closer to his/her relatives for the first couple of years of marriage.
IF something sour happens wrto finances, you will be out of luck, because you are placing your faith in not just your wife’s hands but whoever is running assets on her behalf.

That aside, China imho is one big bubble. It's scary how much "control" the government has in deciding economic policies at whim. For that reason, I again, wouldn't bank a lot in china as a foreigner.

[Author]

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