Buy A Home, Get a Green Card

[Mango]

A debating friend sent me this suggestion. I thought I'd refer it to iTulip for critical analysis. I don't read Mauldin or the WSJ, and this is my first attempt at a Tulip post.

My first impression is that it's selling citizenship instead of Treasury bonds:

http://www.frontlinethoughts.com/gateway.asp

Solving the Housing Crisis by John Mauldin

March 21, 2009

Housing Could Drop Another 20% in Pricing

Buy A Home, Get a Green Card

A Real Stimulus Package

This last Tuesday the Wall Street Journal published an op-ed by my friend Gary Shilling and Richard LeFrak. They offer a simple solution for the housing crisis: give foreigners who will come to the US and buy a home resident status (green cards). This is a very important proposal and one that deserves national attention and action. Gary was kind enough to send me two lengthier white papers offering more facts. In this week's letter we are going to look at this proposal in more detail than the small space that an op-ed can offer. And while this letter will be somewhat controversial in some circles, I ask that you read it through, giving me the time to make the case. I will also add a few thoughts as to why this could not only help solve the housing crisis, but help put the nation back into growth mode.... (continued at the link above)

[Sharky]

Re: Buy A Home, Get a Green Card

My (thoroughly tongue-in-cheek) idea was to hand out green cards if immigrants would buy a new car, but hey a house will work too!

See my earlier post:

http://www.itulip.com/forums/showpos...32&postcount=7

[Spartacus]

Re: Buy A Home, Get a Green Card

I haven't read Mauldin in a while

AND

from what I remember when I was reading him


1. he claimed there's no housing bubble
2. he claimed and worked to get the general public to be eligible for hedge funds
2. (reading this a month later I realized it doesn't make sense)
2. he claimed hedge funds were a good idea for every investor
2a. he worked to get the general public (instead of the existing, restrictive qualifications) to be eligible for hedge funds
3. he claimed there's no problem whatsoever with the financial sector being a very, very large fraction of the S&P

if he did not change his tune after I stopped reading him he has much to answer and atone for

It's not all and uniformly bad. He had guest artices from deflationist Gary Schilling, for example, and presented lots of scientific stuff - sandpile stochastics and Sornette's work spring to mind.

A debating friend sent me this suggestion. I thought I'd refer it to iTulip for critical analysis. I don't read Mauldin or the WSJ, and this is my first attempt at a Tulip post.

My first impression is that it's selling citizenship instead of Treasury bonds:

http://www.frontlinethoughts.com/gateway.asp

Solving the Housing Crisis by John Mauldin

March 21, 2009

Housing Could Drop Another 20% in Pricing

Buy A Home, Get a Green Card

A Real Stimulus Package

This last Tuesday the Wall Street Journal published an op-ed by my friend Gary Shilling and Richard LeFrak. They offer a simple solution for the housing crisis: give foreigners who will come to the US and buy a home resident status (green cards). This is a very important proposal and one that deserves national attention and action. Gary was kind enough to send me two lengthier white papers offering more facts. In this week's letter we are going to look at this proposal in more detail than the small space that an op-ed can offer. And while this letter will be somewhat controversial in some circles, I ask that you read it through, giving me the time to make the case. I will also add a few thoughts as to why this could not only help solve the housing crisis, but help put the nation back into growth mode.... (continued at the link above)

[bill]

Re: Buy A Home, Get a Green Card

One of my predictions
http://www.itulip.com/forums/showthr...11225#poststop

[Mango]

Re: Buy A Home, Get a Green Card

My (thoroughly tongue-in-cheek) idea was to hand out green cards if immigrants would buy a new car, but hey a house will work too!

See my earlier post:

http://www.itulip.com/forums/showpos...32&postcount=7

Funny!

And I appreciate the background on Mauldin from Spartacus.

Now if I could figure out how to navigate the forum, and its general working rules, then I'd be in fine shape. I find the Tulip interface very awkward to use.

[Master Shake]

Re: Buy A Home, Get a Green Card

A debating friend sent me this suggestion. I thought I'd refer it to iTulip for critical analysis. I don't read Mauldin or the WSJ, and this is my first attempt at a Tulip post.

My first impression is that it's selling citizenship instead of Treasury bonds:

http://www.frontlinethoughts.com/gateway.asp

Solving the Housing Crisis by John Mauldin

March 21, 2009

Housing Could Drop Another 20% in Pricing

Buy A Home, Get a Green Card

A Real Stimulus Package

This last Tuesday the Wall Street Journal published an op-ed by my friend Gary Shilling and Richard LeFrak. They offer a simple solution for the housing crisis: give foreigners who will come to the US and buy a home resident status (green cards). This is a very important proposal and one that deserves national attention and action. Gary was kind enough to send me two lengthier white papers offering more facts. In this week's letter we are going to look at this proposal in more detail than the small space that an op-ed can offer. And while this letter will be somewhat controversial in some circles, I ask that you read it through, giving me the time to make the case. I will also add a few thoughts as to why this could not only help solve the housing crisis, but help put the nation back into growth mode.... (continued at the link above)

The terms "batshit crazy" and "zenith of mongoloid reasoning" come to mind in reading this proposal. How about we offer no doc loans to illegals while we're at it? Wait minute, we've already done that.

[fliped42]

Re: Buy A Home, Get a Green Card

This is a very good idea. One it increases demand for dollars and drives FDI. Second it clears inventory when most needed. Third it brings the skilled workers to the US as opposed to shipping those jobs overseas allowing for the US to collect the taxes and stimulus effects of the consumer spending. I live in a major urban city and am proud to be the grandson of immigrants on both my parents side. In three generations these four immigrants went from nothing on Elis Island but the shirts on their backs and through hard work and family values produced 25 grandchildren who became Doctors, Lawyers, Executives, Pharmacists, Teachers and Entrepreneurs. So the rippel effect of having skilled and educated immigrants should be much stronger then that of the past.

[flintlock]

Re: Buy A Home, Get a Green Card

Anyone care to guess how many immigrants with at least a 20% downpayment available would move here? How would they qualify for loan income requirements if they don't even have a job here yet? Unemployment is rising. This is all silly dreaming. We had too many homes with 30 million illegal aliens. Why would giving them a green card matter? Its not like that stopped them before. The solution to the home bubble is to take it on the chin and stop building more homes until the demand catches up. Any solution designed to fill up these empty homes will just cause other problems. This whole economic crisis boils down to jobs. Importing more people to compete over fewer jobs will only compound the misery. Of course it makes the banks happy. Those who overbought and speculated in housing need to take responsibility for it and quit trying to spread the misery around to the rest of us. So I lost 10% or so in value on my home? So what? Beats losing my job.

[nicmakaveli]

Re: Buy A Home, Get a Green Card

I say this would probably work in the way that foreign people would come and buy up assets.
I could come up with dozens of rich chinese people that are eager to get their shot at an american citizenship.
Though I'd guess china would be real mad if the US steals all their rich people...

Seriously, in china, especially Shanghai, buying a well located house at like 2, 3 Million USD is a real bargain.
You'd make it an all cash requirement and it still wouldn't scare people away.
Downtown SH still commands an average of 4k US per square meter. (and those places are considered bargains)

[K Carlson]

Re: Buy A Home, Get a Green Card

A debating friend sent me this suggestion. I thought I'd refer it to iTulip for critical analysis. I don't read Mauldin or the WSJ, and this is my first attempt at a Tulip post.

My first impression is that it's selling citizenship instead of Treasury bonds:

http://www.frontlinethoughts.com/gateway.asp

Solving the Housing Crisis by John Mauldin

March 21, 2009

Housing Could Drop Another 20% in Pricing

Buy A Home, Get a Green Card

A Real Stimulus Package

This last Tuesday the Wall Street Journal published an op-ed by my friend Gary Shilling and Richard LeFrak. They offer a simple solution for the housing crisis: give foreigners who will come to the US and buy a home resident status (green cards). This is a very important proposal and one that deserves national attention and action. Gary was kind enough to send me two lengthier white papers offering more facts. In this week's letter we are going to look at this proposal in more detail than the small space that an op-ed can offer. And while this letter will be somewhat controversial in some circles, I ask that you read it through, giving me the time to make the case. I will also add a few thoughts as to why this could not only help solve the housing crisis, but help put the nation back into growth mode.... (continued at the link above)

Under the current $8,000 tax credit provision, non-residents are also eligible for the credit. Allowing the Chinese and California's illegal aliens to purchase homes would help support real estate prices. Unfortunately, much of the rent-related money would not stay in the country. Isn't our tax payer money supposed to have a multiplier effect? Also, shouldn't our property prices decline to their historical norms, so that Americans can begin to dig out from under their debts?

[fliped42]

Re: Buy A Home, Get a Green Card

The article goes on to say that these would be all cash transactions. With no leverage sales prices will continue to fall or at least stabilize. These will be for legal immigrants who have been through the typical vetting process used today for the 1,000,000 legal immigrants allowed into the country every year. And if you think they will compete with your job they are already competing but at least in america they will compete with you on the same level they won't get the benefit of currency manipulation by their government to make their labor more competitive.

[cjppjc]

Re: Buy A Home, Get a Green Card

Funny!

And I appreciate the background on Mauldin from Spartacus.

Now if I could figure out how to navigate the forum, and its general working rules, then I'd be in fine shape. I find the Tulip interface very awkward to use.

I had the same problem. Go to thread tools, and switch to linear mode. It will help a lot.

[flintlock]

Re: Buy A Home, Get a Green Card

I say this would probably work in the way that foreign people would come and buy up assets.
I could come up with dozens of rich chinese people that are eager to get their shot at an american citizenship.
Though I'd guess china would be real mad if the US steals all their rich people...

Seriously, in china, especially Shanghai, buying a well located house at like 2, 3 Million USD is a real bargain.
You'd make it an all cash requirement and it still wouldn't scare people away.
Downtown SH still commands an average of 4k US per square meter. (and those places are considered bargains)

That makes sense. But will anyone with money really want to live here?

[Mango]

Re: Buy A Home, Get a Green Card

Thanks,

I tried that, but eventually settled back into Hybrid mode.

The problem I have is much bigger. As a newbie I hate to complain, but for a subscription site (especially) the graphic layout, visual intuitive ease of use is horrible. It's kind of odd, too, because the actual images used to accompany articles are quite good, so whoever is picking those is great, but the assemblage of the website seems like it's done by a Microsoft DOS programmer. Sorry to be so critical, but if I was making this my business the website would be much easier to use and pleasant to look at, and I don't know shit about how to make that happen, but I'd find someone who did.

[nicmakaveli]

Re: Buy A Home, Get a Green Card

That makes sense. But will anyone with money really want to live here?

You know, I get approached by lot's of people, they'd buy a house to get there. (our out of here). Until recently that corrupt Shanghai Mayor's son had a firm offering green cards to different countries for between 2 and 20 Million Rmb (depending on the country).
Because you still need some connections to be able to leave in the first place.

Office was close to mine, just noticed 2 days ago it got shot down. Maybe they threw him in a cell with his dad....

People here don't know it's not all gold over there, they see it as a better place to grow up for their kids.
Schools, air, safety, etc....
Very family concious. I don't think they even care if they like it there.