Housing and immigration reform

[admin]

Trump is proposing merit based immigration to replace family based.

I believe a merit system will push real estate up in the major metros where immigrants like to settle. Middle class and upper middle class immigrants have money to buy houses. Fresh off the boat, they have the 20% required for downpayments.

I believe the large metros will lead in wealth creation.

[spdrun]

The proposal is to cut volume of immigrants by 50% or more.

[SK in CV]

“Beliefs have no place in the study of economics.”

I would tell you who said that if I remembered his name. He was an econ prof at SDSU 40 years ago. He was right.

[FlyerInHi]

[quote=SK in CV]”Beliefs have no place in the study of economics.”

I would tell you who said that if I remembered his name. He was an econ prof at SDSU 40 years ago. He was right.[/quote]

Very good.

I think the data show that a point based immigration system has been wonderful for house prices in the metro areas of Canada, Australia and New Zealand.

https://www.google.com/amp/s/amp.ft.com/content/66c16b5e-d8b5-11e7-a039-c64b1c09b482

[Hobie]

Paywall so can’t read article. But I think this is old news regarding ‘foreign’ investment in NZ real estate driving up prices. And their reaction as over 60% reduction in NZ not owning their own homes due to high prices. They want property to be owned by NZ not foreigners.

You should really be against a merit system as only the brightest and most educated will be allowed in. Kinda elitist huh.

Plus there is a difference between the chain migration and individual merit. Let’s see the actual text of proposed law before we all get bent.

[FlyerInHi]

[quote=Hobie]

You should really be against a merit system as only the brightest and most educated will be allowed in. Kinda elitist huh.

Plus there is a difference between the chain migration and individual merit. Let’s see the actual text of proposed law before we all get bent.[/quote]

Actually I’m all for a merit system in addition to what we have now.

I think more immigration will make us a much more productive and wealthy society.

I’m all for welcoming university grads and people with capital. What better way to bring wealth?

[njtosd]

[quote=FlyerInHi]

I’m all for welcoming university grads and people with capital. What better way to bring wealth?[/quote]

Maternity tourism was already sort of achieving that – rich couples coming to the US to have babies that would then be citizens when they turn 21 and bring over their family. If chain immigration is cut back, maternity tourism will probably die down and we won’t see as much of this. Maybe we should establish this as a legitimate alternative and have the money go to the US rather than the “brokers”. Take money now for citizenship granted 20 yrs. from now.

[FlyerInHi]

For humanitarian reasons family reunification will not exclude immediate family (parents, children, spouses).

Merit means skills/education, capital and English proficiency. All else being equal, that is more competition to native borns, not less.

Certainly, merit immigration will give preference to grads of US institutions. I’m expecting a surge of foreign applicants to US boarding schools. Merit based will drive that. But also, there are so many educated people around the world looking for the best education for their kids.

Education can become a great “export” for the US. We can monetize it much more than we are. Australia is doing it even though their schools are relatively shit.

[FlyerInHi]

[quote=spdrun]The proposal is to cut volume of immigrants by 50% or more.[/quote]

Sure, but the new immigrants who score the highest points are most likely and with the wherewithal to buy homes. The highest scoring immigrants will get priority.

Indian immigrants will probably score high on education and English. The Chinese will score high on investments. Now look at homeownership rates of Indian and Chinese immigrants in Canada.

There is a link to the actual bill within the article.. but I don’t have time to read it.
http://www.cnn.com/2017/08/02/politics/cotton-perdue-trump-bill-point-system-merit-based/index.html

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