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	<title>Comments on: Solving the Housing Crisis</title>
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	<link>http://www.ritholtz.com/blog/2009/03/solving-the-housing-crisis/</link>
	<description>Macro Perspective on the Capital Markets, Economy, Geopolitics, Technology, and Digital Media</description>
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		<title>By: a_j</title>
		<link>http://www.ritholtz.com/blog/2009/03/solving-the-housing-crisis/comment-page-1/#comment-173136</link>
		<dc:creator>a_j</dc:creator>
		<pubDate>Tue, 19 May 2009 07:20:52 +0000</pubDate>
		<guid isPermaLink="false">http://www.ritholtz.com/blog/?p=22247#comment-173136</guid>
		<description>Also if the US does not do the right thing as the author points out, then surely we will go back to our country and start up our own companies and will give Americans jobs if you are ready to relocate there. Our countries welcome bright people!</description>
		<content:encoded><![CDATA[<p>Also if the US does not do the right thing as the author points out, then surely we will go back to our country and start up our own companies and will give Americans jobs if you are ready to relocate there. Our countries welcome bright people!</p>
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		<title>By: a_j</title>
		<link>http://www.ritholtz.com/blog/2009/03/solving-the-housing-crisis/comment-page-1/#comment-172681</link>
		<dc:creator>a_j</dc:creator>
		<pubDate>Mon, 18 May 2009 06:34:26 +0000</pubDate>
		<guid isPermaLink="false">http://www.ritholtz.com/blog/?p=22247#comment-172681</guid>
		<description>I am on H1B for years and have not been able to buy a house(even though i have the money) cos I can be kicked out of the country if I lose my job. And seriously anyone in this economy can be kicked out , however skilled you are. So I don&#039;t want to take the risk. What is the use of taking a risk and owning an asset when you are not allowed to stake a claim on it. I would rather buy assets in countries where I will be allowed to live, even if I lose my job. Common ppl , Realize the advantages of ppl like me to the economy and do the right thing !</description>
		<content:encoded><![CDATA[<p>I am on H1B for years and have not been able to buy a house(even though i have the money) cos I can be kicked out of the country if I lose my job. And seriously anyone in this economy can be kicked out , however skilled you are. So I don&#8217;t want to take the risk. What is the use of taking a risk and owning an asset when you are not allowed to stake a claim on it. I would rather buy assets in countries where I will be allowed to live, even if I lose my job. Common ppl , Realize the advantages of ppl like me to the economy and do the right thing !</p>
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		<title>By: Steph82</title>
		<link>http://www.ritholtz.com/blog/2009/03/solving-the-housing-crisis/comment-page-1/#comment-159310</link>
		<dc:creator>Steph82</dc:creator>
		<pubDate>Fri, 03 Apr 2009 04:47:49 +0000</pubDate>
		<guid isPermaLink="false">http://www.ritholtz.com/blog/?p=22247#comment-159310</guid>
		<description>P.S I&#039;ve been reading some of the posts...do people in the US really not like people in Canada as much as it sounds? I&#039;ve always thought that the US was a beautiful country and the people are so proud it&#039;s amazing. I&#039;ve wanted to be a part of it for such a long time...but unfortunatly my parents were born here in Canada. I love Canada I always have so don&#039;t think I&#039;m knocking my country. I&#039;m just saying what&#039;s wrong with mixing it up a bit?</description>
		<content:encoded><![CDATA[<p>P.S I&#8217;ve been reading some of the posts&#8230;do people in the US really not like people in Canada as much as it sounds? I&#8217;ve always thought that the US was a beautiful country and the people are so proud it&#8217;s amazing. I&#8217;ve wanted to be a part of it for such a long time&#8230;but unfortunatly my parents were born here in Canada. I love Canada I always have so don&#8217;t think I&#8217;m knocking my country. I&#8217;m just saying what&#8217;s wrong with mixing it up a bit?</p>
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		<title>By: Steph82</title>
		<link>http://www.ritholtz.com/blog/2009/03/solving-the-housing-crisis/comment-page-1/#comment-159309</link>
		<dc:creator>Steph82</dc:creator>
		<pubDate>Fri, 03 Apr 2009 04:40:38 +0000</pubDate>
		<guid isPermaLink="false">http://www.ritholtz.com/blog/?p=22247#comment-159309</guid>
		<description>If only this were true. I&#039;m a 26 year old single female from canada. I have a certificate in Early Childhood Development and 2.5 years of experiance after I completed this program and about 12 years of childcare experiance before I started the program. I&#039;ve been wanting to move to the US pretty much my whole life. No I wouldn&#039;t be working at McDonalds or any other minimum wage job. I would be bringing my experiance and skills that I have learned from working with children. I would gladly buy a house if it would mean I got to live in the US. I know that no matter what state I decided to move to I would be able to find a job because parents need qualified people to care for their children.</description>
		<content:encoded><![CDATA[<p>If only this were true. I&#8217;m a 26 year old single female from canada. I have a certificate in Early Childhood Development and 2.5 years of experiance after I completed this program and about 12 years of childcare experiance before I started the program. I&#8217;ve been wanting to move to the US pretty much my whole life. No I wouldn&#8217;t be working at McDonalds or any other minimum wage job. I would be bringing my experiance and skills that I have learned from working with children. I would gladly buy a house if it would mean I got to live in the US. I know that no matter what state I decided to move to I would be able to find a job because parents need qualified people to care for their children.</p>
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		<title>By: jchan</title>
		<link>http://www.ritholtz.com/blog/2009/03/solving-the-housing-crisis/comment-page-1/#comment-157238</link>
		<dc:creator>jchan</dc:creator>
		<pubDate>Thu, 26 Mar 2009 14:59:18 +0000</pubDate>
		<guid isPermaLink="false">http://www.ritholtz.com/blog/?p=22247#comment-157238</guid>
		<description>As a person working on H1B, I would raise both my hands to support this idea.  I came to US 10 years ago, earned my Masters degree, started working on H1B. But due to serious retrogression for Chinese citizens. Our income can  easily afford a $600k house with 20% downpay, and my credit score is over 800. But we still rent because of the uncertainty in life  without green card. If I were to get my green card tomorrow, I would go out and buy a house the day after. 
 
btw, in the 7 years my wife and I worked, we paid roughly $400k in Fed, state, local, and SS tax. That is the $400k used to help the poor, build roads and bridges, etc. We work in the US for a better future and career, and I am sure our hard work also have a positive push to the US. It is just beyond me why the US government and its immigration policy make our lives so hard? Law abiding and hard working is not being rewarded any more?

Because of the hopeless state of immigration application and increasingly better opportunities in China, we are actively looking for jobs back home. Guess it&#039;s time to kiss goodbye our American dream and start our long  due Chinese dream.</description>
		<content:encoded><![CDATA[<p>As a person working on H1B, I would raise both my hands to support this idea.  I came to US 10 years ago, earned my Masters degree, started working on H1B. But due to serious retrogression for Chinese citizens. Our income can  easily afford a $600k house with 20% downpay, and my credit score is over 800. But we still rent because of the uncertainty in life  without green card. If I were to get my green card tomorrow, I would go out and buy a house the day after. </p>
<p>btw, in the 7 years my wife and I worked, we paid roughly $400k in Fed, state, local, and SS tax. That is the $400k used to help the poor, build roads and bridges, etc. We work in the US for a better future and career, and I am sure our hard work also have a positive push to the US. It is just beyond me why the US government and its immigration policy make our lives so hard? Law abiding and hard working is not being rewarded any more?</p>
<p>Because of the hopeless state of immigration application and increasingly better opportunities in China, we are actively looking for jobs back home. Guess it&#8217;s time to kiss goodbye our American dream and start our long  due Chinese dream.</p>
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		<title>By: chubby</title>
		<link>http://www.ritholtz.com/blog/2009/03/solving-the-housing-crisis/comment-page-1/#comment-157221</link>
		<dc:creator>chubby</dc:creator>
		<pubDate>Thu, 26 Mar 2009 14:29:49 +0000</pubDate>
		<guid isPermaLink="false">http://www.ritholtz.com/blog/?p=22247#comment-157221</guid>
		<description>One more thing I forget to say, this new idea “buy a house, get a green card” can also solve the problems of highly dependent on employers&#039; sponsorship to get the H-1B visas.  This will avoid working visa frauds and employees cannot be tied up by employers once the employees want to leave the companies.  Employees can control their own career future without worrying their legal stay  which is tied to the employers&#039; willingness to sponsor their working visa or green card.  Furthermore, the employers will not have any inconvenience to have the both time- and money-consuming working visa filing process for their employees.  Therefore, “buy a house, get a green card”  is a super-excellent idea which is advantageous for both employees and employers.  It is also advantageous for solving the housing crisis, financial banking crisis and uplifting the US economy.</description>
		<content:encoded><![CDATA[<p>One more thing I forget to say, this new idea “buy a house, get a green card” can also solve the problems of highly dependent on employers&#8217; sponsorship to get the H-1B visas.  This will avoid working visa frauds and employees cannot be tied up by employers once the employees want to leave the companies.  Employees can control their own career future without worrying their legal stay  which is tied to the employers&#8217; willingness to sponsor their working visa or green card.  Furthermore, the employers will not have any inconvenience to have the both time- and money-consuming working visa filing process for their employees.  Therefore, “buy a house, get a green card”  is a super-excellent idea which is advantageous for both employees and employers.  It is also advantageous for solving the housing crisis, financial banking crisis and uplifting the US economy.</p>
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		<title>By: chubby</title>
		<link>http://www.ritholtz.com/blog/2009/03/solving-the-housing-crisis/comment-page-1/#comment-157215</link>
		<dc:creator>chubby</dc:creator>
		<pubDate>Thu, 26 Mar 2009 14:11:37 +0000</pubDate>
		<guid isPermaLink="false">http://www.ritholtz.com/blog/?p=22247#comment-157215</guid>
		<description>Personally I do think &quot;buy a house, get a green card&quot; is a great fantastic idea to link  both economy and immigration systems together.  This new and fresh idea will attract aliens (especially people who have US advanced academic degrees and anyone who have stayed in US for about 8-10 years) who are both wealthy and knowledgeable to immigrate here.  

You can imagine that besides buying a house to get a green card, if every aliens are charged with $10,000 as the non-refundable immigration entry fee, you will see there is a lot of tremendous cash flow into the economy and this may reduce the national debt.  

Once they immigrate, they will put extra cash into the banks, buying cars, spending money on household products such as buying computers, televisions etc and you can see more cash flow into banks, uplifting car industry and raising profits in the retail businesses. 

 In addition, the relatives/friends of these green card holders will be indirectly to be invited to visit US and this will indirectly increase the prosperity of  the country.  Such visitors will increase the demand in hotels, vacation apartment rentals, shopping in malls, restaurants and these will indirectly create more jobs in sales and  uplifting the housing markets.  Also, the fees charged from the tourist visa will raise the government income.

Maybe you will argue that  such immigrants will definitely take American jobs away and they will hurt the economy.  But on the other hand, you need to think about if these green card holders can&#039;t find a job, they must spend their own money to survive in addition with the abovementioned immigration fees flow into the economy.  They can&#039;t hurt the economy in any means if the government set rules for these type of green card holders can&#039;t get any social security benefits  once they immigrate.  Such green card holders will not sit still at home if they are unemployed, they will set up the company and this will indirectly create jobs.  

Besides,  the new idea of &quot;buy a house, get a green card&quot; is smart to solve both housing crisis and the long waiting lines of employment-based immigration system.  Also, I do believe this new idea can replace the 
non-nuclear (means the far-related family members such as cousins, nephews and niece) family immigration system but not the nuclear (means spouse and children) family immigration system.   It is because this new idea ensures the high quality aliens (rich or knowledgeable quality) to enter the nation but the traditional family-based immigration only emphasizes the family-ties.  Most of the non-nuclear family-based immigration members are non-wealthy and not academically adequate.

However, all these aliens must be free of both criminal and illegal stay records and preferably to have good credit score if they have stayed in US for 8-10 years.

This new idea can be tried for several years to see the results in the market.</description>
		<content:encoded><![CDATA[<p>Personally I do think &#8220;buy a house, get a green card&#8221; is a great fantastic idea to link  both economy and immigration systems together.  This new and fresh idea will attract aliens (especially people who have US advanced academic degrees and anyone who have stayed in US for about 8-10 years) who are both wealthy and knowledgeable to immigrate here.  </p>
<p>You can imagine that besides buying a house to get a green card, if every aliens are charged with $10,000 as the non-refundable immigration entry fee, you will see there is a lot of tremendous cash flow into the economy and this may reduce the national debt.  </p>
<p>Once they immigrate, they will put extra cash into the banks, buying cars, spending money on household products such as buying computers, televisions etc and you can see more cash flow into banks, uplifting car industry and raising profits in the retail businesses. </p>
<p> In addition, the relatives/friends of these green card holders will be indirectly to be invited to visit US and this will indirectly increase the prosperity of  the country.  Such visitors will increase the demand in hotels, vacation apartment rentals, shopping in malls, restaurants and these will indirectly create more jobs in sales and  uplifting the housing markets.  Also, the fees charged from the tourist visa will raise the government income.</p>
<p>Maybe you will argue that  such immigrants will definitely take American jobs away and they will hurt the economy.  But on the other hand, you need to think about if these green card holders can&#8217;t find a job, they must spend their own money to survive in addition with the abovementioned immigration fees flow into the economy.  They can&#8217;t hurt the economy in any means if the government set rules for these type of green card holders can&#8217;t get any social security benefits  once they immigrate.  Such green card holders will not sit still at home if they are unemployed, they will set up the company and this will indirectly create jobs.  </p>
<p>Besides,  the new idea of &#8220;buy a house, get a green card&#8221; is smart to solve both housing crisis and the long waiting lines of employment-based immigration system.  Also, I do believe this new idea can replace the<br />
non-nuclear (means the far-related family members such as cousins, nephews and niece) family immigration system but not the nuclear (means spouse and children) family immigration system.   It is because this new idea ensures the high quality aliens (rich or knowledgeable quality) to enter the nation but the traditional family-based immigration only emphasizes the family-ties.  Most of the non-nuclear family-based immigration members are non-wealthy and not academically adequate.</p>
<p>However, all these aliens must be free of both criminal and illegal stay records and preferably to have good credit score if they have stayed in US for 8-10 years.</p>
<p>This new idea can be tried for several years to see the results in the market.</p>
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		<title>By: thoma72s</title>
		<link>http://www.ritholtz.com/blog/2009/03/solving-the-housing-crisis/comment-page-1/#comment-157173</link>
		<dc:creator>thoma72s</dc:creator>
		<pubDate>Thu, 26 Mar 2009 13:08:46 +0000</pubDate>
		<guid isPermaLink="false">http://www.ritholtz.com/blog/?p=22247#comment-157173</guid>
		<description>One of my friend is a college professor (not tenured) with two kids and an unsecure job. He is in a desperate situation (medical issues, heart + back problems) and is really looking to sell his house (350 K). I can easily easily buy it and releave him of his heart ache, however, given my uncertain immigration status, how can I commit? This is just a crazy situation.</description>
		<content:encoded><![CDATA[<p>One of my friend is a college professor (not tenured) with two kids and an unsecure job. He is in a desperate situation (medical issues, heart + back problems) and is really looking to sell his house (350 K). I can easily easily buy it and releave him of his heart ache, however, given my uncertain immigration status, how can I commit? This is just a crazy situation.</p>
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		<title>By: SPAP</title>
		<link>http://www.ritholtz.com/blog/2009/03/solving-the-housing-crisis/comment-page-1/#comment-157172</link>
		<dc:creator>SPAP</dc:creator>
		<pubDate>Thu, 26 Mar 2009 13:08:13 +0000</pubDate>
		<guid isPermaLink="false">http://www.ritholtz.com/blog/?p=22247#comment-157172</guid>
		<description>Hi All,
People always forget about a category-Legal Immigrants.
Let me tell my story.......................

                        Me and my spouse came here 9 years ago.Both of us have Masters degree in engineering from a reputed uni in USA. Also we are working in fortune 100 companies in USA. We have two kids both are US citizens. The problem here is we apply for immigration 7 years ago still it is pending because of backlog in immigration policy. We have enough money to buy a decent house in the town where we live. But without greencard we dont have confidence to spend in this country. Here getting green card we are not pulling someones job. We are paying taxes for 8 years. If we get green card,who is loosing here. There are 500,000 people are waiting in this immigration queue,We have job,money ,education,enough experience  everything ,but no greencard.....not ready to buy house...........);</description>
		<content:encoded><![CDATA[<p>Hi All,<br />
People always forget about a category-Legal Immigrants.<br />
Let me tell my story&#8230;&#8230;&#8230;&#8230;&#8230;&#8230;&#8230;..</p>
<p>                        Me and my spouse came here 9 years ago.Both of us have Masters degree in engineering from a reputed uni in USA. Also we are working in fortune 100 companies in USA. We have two kids both are US citizens. The problem here is we apply for immigration 7 years ago still it is pending because of backlog in immigration policy. We have enough money to buy a decent house in the town where we live. But without greencard we dont have confidence to spend in this country. Here getting green card we are not pulling someones job. We are paying taxes for 8 years. If we get green card,who is loosing here. There are 500,000 people are waiting in this immigration queue,We have job,money ,education,enough experience  everything ,but no greencard&#8230;..not ready to buy house&#8230;&#8230;&#8230;..);</p>
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		<title>By: thoma72s</title>
		<link>http://www.ritholtz.com/blog/2009/03/solving-the-housing-crisis/comment-page-1/#comment-157169</link>
		<dc:creator>thoma72s</dc:creator>
		<pubDate>Thu, 26 Mar 2009 13:04:55 +0000</pubDate>
		<guid isPermaLink="false">http://www.ritholtz.com/blog/?p=22247#comment-157169</guid>
		<description>Dear John Maulidin,
I am one of those &quot;Legal immigrants&quot; you are talking about. I have substantial capital with me, however, due to my uncertain immigration status (have been waiting for the green card due to excessive backlog) I cannot risk buying a house. In my capacity I will easily be able to afford &gt;300 k house and I would say there are hundreds of thousands in similar position like me. We have money and have legal highly payed jobs, high qualifications but just the uncertain immigration status is preventing us investing into homes. Please keep up your effort to raise awareness and hopefully the Gov realizes the potential by just giving us a Green Card. I am not asking for giving a GC on immediate arrival to the nation, NO. I request a GC for people who are qualified and working legally in the US, who have tremendous potential to break the chain of the falling home prices. Thanks a lot.</description>
		<content:encoded><![CDATA[<p>Dear John Maulidin,<br />
I am one of those &#8220;Legal immigrants&#8221; you are talking about. I have substantial capital with me, however, due to my uncertain immigration status (have been waiting for the green card due to excessive backlog) I cannot risk buying a house. In my capacity I will easily be able to afford &gt;300 k house and I would say there are hundreds of thousands in similar position like me. We have money and have legal highly payed jobs, high qualifications but just the uncertain immigration status is preventing us investing into homes. Please keep up your effort to raise awareness and hopefully the Gov realizes the potential by just giving us a Green Card. I am not asking for giving a GC on immediate arrival to the nation, NO. I request a GC for people who are qualified and working legally in the US, who have tremendous potential to break the chain of the falling home prices. Thanks a lot.</p>
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