Market about to be flooded with foreign buyers

[donaldduckmoore]

There are US college grads that are also foreign, master and PhDs especially. Further, unemployment is not an issue in this country.

[donaldduckmoore]

There are US college grads that are also foreign, master and PhDs especially. Further, unemployment is not an issue in this country.

[The-Shoveler]

Nor_LA-Temcu-SD-Guy

Anyway, This whole outsourcing thing is cost driven, not Talent driven like they try to say.

There were a lot more engineers in SD in 2001 than there are today, it’s all about costs.

[The-Shoveler]

Nor_LA-Temcu-SD-Guy

Anyway, This whole outsourcing thing is cost driven, not Talent driven like they try to say.

There were a lot more engineers in SD in 2001 than there are today, it’s all about costs.

[blahblahblah]

Man, all of the old stories are crawling back out of the woodwork lately. In the last few days we’ve heard:

* There’s no more land so prices can’t fall
* Foreign buyers are gonna buy all of the houses and keep prices from falling
* The high end is immune
* It’s different here

Somebody put another record on, this one’s got a deep scratch in it and just keeps skipping over and over on the same part…

[blahblahblah]

Man, all of the old stories are crawling back out of the woodwork lately. In the last few days we’ve heard:

* There’s no more land so prices can’t fall
* Foreign buyers are gonna buy all of the houses and keep prices from falling
* The high end is immune
* It’s different here

Somebody put another record on, this one’s got a deep scratch in it and just keeps skipping over and over on the same part…

[PerryChase]

Foreigners working and earning wages in America are LOCAL buyers not foreign buyers. That money is part of GDP and not money brought into the economy from outside.

A Brit buying a vacation home in San Diego is a foreign buyer.

[PerryChase]

Foreigners working and earning wages in America are LOCAL buyers not foreign buyers. That money is part of GDP and not money brought into the economy from outside.

A Brit buying a vacation home in San Diego is a foreign buyer.

[lniles]

Hi PerryChase, I thought someone might say that. Please replace ‘foreign buyer’ with ‘immigrant buyer’.

[lniles]

Hi PerryChase, I thought someone might say that. Please replace ‘foreign buyer’ with ‘immigrant buyer’.

[no_such_reality]

See the 2nd table. A “C” means all visa change-of-status requests from those countries are now “current”. Until now they were backlogged to 2003.

No, that means immigrant numbers are available. Welcome to the queue, which is still backed up to 2001 courtesy of Table 1.

This is an annual process and they go fast.

In otherwords, this is just like last year. And the year before. and the one before that.

[no_such_reality]

See the 2nd table. A “C” means all visa change-of-status requests from those countries are now “current”. Until now they were backlogged to 2003.

No, that means immigrant numbers are available. Welcome to the queue, which is still backed up to 2001 courtesy of Table 1.

This is an annual process and they go fast.

In otherwords, this is just like last year. And the year before. and the one before that.

[5yearwaiter]

I don’t think this will give any boost to the home buying at least any 0.01% in total. I knew many ,,, many who earned this much already bought houses in the boom start period and end up in much safer positions and ofcourse they are still on H1 work visas. So the % i have mentioned is very less in this cadre to buy nation wide it might hit 0.01% boost also they are all aware how to react in this cold market ,, just becomes wait watchers to take gain of housing bottom.

[5yearwaiter]

I don’t think this will give any boost to the home buying at least any 0.01% in total. I knew many ,,, many who earned this much already bought houses in the boom start period and end up in much safer positions and ofcourse they are still on H1 work visas. So the % i have mentioned is very less in this cadre to buy nation wide it might hit 0.01% boost also they are all aware how to react in this cold market ,, just becomes wait watchers to take gain of housing bottom.

[bubble_contagion]

So you are saying that ~250K immigrants that have been living in the US for up to 6 years (work visas last up to 6 years) are now going to stop renting and buy a house next week. It sounds that rents will go down around here.

Most immigrants like the engineers that work at Qualcomm have not waited for their green cards to buy a house. They do not need one to get a loan and, as long as they are employed, obtaining a green card is quite easy. There is little risk in buying a soon as you get off the plane.

BTW Every year the “backlog” is released at some point, just like this year.

[Author]

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