Posted on 04/20/2017 3:46:17 PM PDT by smokingfrog
Foreign-born residents will have a "significant impact" on the housing market according to "Housing in America: Immigrants and Housing Demand," released by the Urban Land Institute's Terwilliger Center for Housing. The report also notes that if the current levels aren't sustained, the industry could suffer.
"Immigrants have helped stabilize and strengthen the housing market throughout the recovery," says Stockton Williams, executive director of the Terwilliger Center. "Immigrants' housing purchasing power and preferences are significant economic assets for metropolitan regions across the country. This suggests the potential for much more growth attributable to foreign-born residents in the years ahead."
Immigrants in general have strong aspirations for single-family homeownership. They're also increasingly targeting the suburbs in search of greater employment opportunities and lower-cost housing, the study notes.
"If recent shifts in immigration flows continue, an increase in higher-income immigrants—including rising numbers from China and India—could accelerate the demand for homeownership among the foreign-born population," according to the report.
(Excerpt) Read more at realtormag.realtor.org ...
How about they concentrate on finding homes and ownership for the children of Americans, not people who have no connection to the U.S. or its people?
I call bullshit.
An Illegal immigrant that stole across borders so that employers can get away with paying him minimum wage is not going to buy a house. And neither is the guy that lost his job to him.
The baby boomers can buy a new and smaller houses to downsize from their McMansions and then rent them out to 10 immigrant families!
“Report: More than half of immigrants on welfare”
USA Today 9/2/2015
Maybe that is why they can afford houses. Not only welfare but many are put on Obamacare for free, get free schooling, and free breakfast and lunches at school.
“They’re here illegally, they’re ignorant, uneducated,
and they DESERVE to be taken advantage of”
—Manager of Application Support, Argent Mortgage
Uhuh. Funny how that worked.
They must be talking about rich foreigners buying homes for cash. A significant percentage of houses sold in California are sold for cash, but it is not Jose the gardener buying those homes.
LEGAL immigrants are welcome to buy all the houses they want. I have a hunch, lenders are doing loans for illegals as long as they have a TIN and verifiable source of income.
They probably can’t qualify for government loans, i.e. FHA. But, when I lived in SoCal, I was always amazed at how much cash illegals could always access. So a 10-20% down payment is doable.
Foreign nationals buy real estate in the US all the time. I want to know if lenders are funding them.
Sure, with our money!
I do think the long term trend is going to be a real tough market for high end housing.
Apr 20, 2017
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CANBERRA – Australia plans to tighten its citizenship rules to require higher English language skills, longer residency and evidence of integration such as a job, officials said Thursday.
Prime Minister Malcolm Turnbull said the new citizenship test would reflect Australian values instead of the current multiple-choice format.
“This will be good for the applicants, good for the nation, underlining our Australian values at the very heart of Australian citizenship,” Turnbull told reporters.
“This is not about administration. This is about allegiance and commitment to Australian values,” he added.
Budding Australian citizens would have to be competent English language speakers and have been permanent residents for at least four years. Currently a permanent resident can become a citizen after one year.
Immigration Minister Peter Dutton said there would be greater police checks on citizenship applicants and perpetrators of domestic violence should be disqualified.
Applicants would have to show the steps they had taken to integrate into and contribute to the Australian community. Examples would include evidence of employment, membership of community organizations and school enrollment for all eligible children, a government statement said.
‘The baby boomers can buy a new and smaller houses to downsize from their McMansions and then rent them out to 10 immigrant families!’
On our nation’s trajectory, that activity may become mandatory. Or at least, democrats may introduce the bill.
We’ll next be told we need immigrants to work in the growing housing industry. As the industry expands we’ll be told we need more immigrants to fill those houses being built. We’ll then be told we need more immigrants to work in the housing industry...
The Aussies have the right idea.
.
Who are you kidding
95% are unskilled and don’t have 2 pesos to rub together
them:
“”Immigrants have helped stabilize and strengthen the housing market throughout the recovery,”
translation:
we just LOVE all those communist Chinese factory managers buying up American homes. ...... we realtors make a fortune selling our local housing stock to the commies (and the commies’ money keeps arriving ... they’re trying to hide some of their moola from the next round of confiscation in Beijing)
ps: Americans can go find shelter elsewhere
Yeah. I think housing prices are still too high, if people aren’t getting the good paying jobs anymore. Can’t buy a $200k house on $8.25/hr. Something is keeping the prices high.
Bullus excrementus.
(Pleae forgive me, oh HS Latin teacher.)
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