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Action Items for everyone Webfaxes, phone campaigns and other directives from core group.

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  #16 (permalink)  
Old 05-05-2009, 07:16 PM
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El_Guapo will become famous soon enough
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Originally Posted by qasleuth View Post
Welcome. I urge you to browse this wonderful site and try to gather more information as to what IV has to offer and its history.

BTW: "sub prime" has nothing to do with the real estate market or the location of the house. It is a financial term to describe a "risk" category invented for the layman. People who got loans even though they do not have the 'prime' credit rating and paid zero down payment are the ones who are walking away from their houses. These foreclosed houses can be anywhere and probably in better locations than not, as their prices would not have precipitously climbed during 2003-2006 crazy years.
Yup, I know what sub prime is and more. What I meant to say was more that 60% of the foreclosure was due to the sub prime crisis. A lot of these come from the Low Income Group and were sucked into the ARM with 5 yr fixed and variable therafter. They usually don't buy homes in a $500,000 community. They bought houses in a 150K community. Most of the houses in those areas are not what a typical, highly skilled immigrant earning good money would be interested in buying. Atleast not in my area. But you are right. These houses could be in good areas too. With 12 million foreclosed homes, say 6 million are in good areas and with 500K immigrants in line, perhaps buying 250K houses, its about 4% of the foreclosure market. Now tell me, how can that help the economy?
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  #17 (permalink)  
Old 05-06-2009, 12:16 AM
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hiralal is infamous around these parts hiralal is infamous around these parts hiralal is infamous around these parts hiralal is infamous around these parts
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Originally Posted by qasleuth View Post
Welcome. I urge you to browse this wonderful site and try to gather more information as to what IV has to offer and its history.

BTW: "sub prime" has nothing to do with the real estate market or the location of the house. It is a financial term to describe a "risk" category invented for the layman. People who got loans even though they do not have the 'prime' credit rating and paid zero down payment are the ones who are walking away from their houses. These foreclosed houses can be anywhere and probably in better locations than not, as their prices would not have precipitously climbed during 2003-2006 crazy years.
I agree with the above...subprime is not an area ..btw it is too late to link immigration with housing ..it did pick up some steam as shiller and others discussed it ,...THE Problem ..shiller and others wanted to give GC's to those who come to US on the first day ..he probably does not know that there are a million immigrant with good bank balances and GC (a small plastic card) is preventing them from buying a house.
as for the post above ..even 1 extra home sold helps ..and 100K homes sold definitely helps ...we just need to sell the idea and get the GC ..but maybe it is too late now
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  #18 (permalink)  
Old 05-06-2009, 02:05 AM
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sk2006 is infamous around these parts sk2006 is infamous around these parts sk2006 is infamous around these parts sk2006 is infamous around these parts sk2006 is infamous around these parts sk2006 is infamous around these parts sk2006 is infamous around these parts
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Originally Posted by hiralal View Post
... it is too late to link immigration with housing ..it did pick up some steam as shiller and others discussed it ,...
Shiller is smart but I think he is confusing the word 'Immigrant' with the word 'stupid'.

I am an immigrant and why should I buy an unaffordable over priced house which no American is willing to buy?

Last edited by sk2006; 05-06-2009 at 02:10 AM.
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  #19 (permalink)  
Old 05-06-2009, 09:18 AM
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hiralal is infamous around these parts hiralal is infamous around these parts hiralal is infamous around these parts hiralal is infamous around these parts
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Originally Posted by sk2006 View Post
Shiller is smart but I think he is confusing the word 'Immigrant' with the word 'stupid'.

I am an immigrant and why should I buy an unaffordable over priced house which no American is willing to buy?
he is smart but his idea was stupid ..why will they allow anyone to come to US and give him GC on the first day just because he purchased a house ??
also the reality has changed somewhat as US loses its charm somewhat ..and as other countries become better ..many will not come and buy a house.
maybe we should have a campaign (or should have had a campaign) telling shiller that forget newcomers ..there are million of well to do immigrants in US who would buy a house EVENTUALLY if their GC's were to be processed faster !!
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