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Just wondering how people in the US would feel if the government increased immigration into the US to end the housing crisis?
The way it would work is that immigrants would move into underused (empty?) homes and eliminate the foreclosure lag in the housing market. This would then stabilize the housing market and thus build confidence in growing the economy.
For cities such as Detroit, folks would move into empty homes and help rebuild the communities.
Immigrants could even pay a "visa fee" to move so that only folks with capital could move in...
Would this work? I know that Canada increased immigration in the 90's after a massive recession and housing bust to rebuild the economy and it worked...
Is the political culture open to this or is the US in a xenophobic phase currently?
Would it work? We can't even figure out if illegal aliens are a net plus or net minus to our economy. But you did write that it did work in Canada. I suppose an extensive analysis would have to be completed but who knows?
Also, it might work for you but not for me - so it depends. Who stands to win, who will lose out?
Just wondering how people in the US would feel if the government increased immigration into the US to end the housing crisis?
The way it would work is that immigrants would move into underused (empty?) homes and eliminate the foreclosure lag in the housing market. This would then stabilize the housing market and thus build confidence in growing the economy.
For cities such as Detroit, folks would move into empty homes and help rebuild the communities.
Immigrants could even pay a "visa fee" to move so that only folks with capital could move in...
Would this work? I know that Canada increased immigration in the 90's after a massive recession and housing bust to rebuild the economy and it worked...
Is the political culture open to this or is the US in a xenophobic phase currently?
Great thing to do ! The US needs more immigrants !
Really? I figured it out long ago. How is anything illegal a plus? What kind of bizarre rationalization is needed to say bad is good?
All you need to do to change something from illegal to legal is change a law... What would happen if it was legal to bring in immigrants to buy up homes (for cash) is the question?
Increasing the level of immigration would make a bad situation worse. First, where would the credit to get a loan come from? It would take years for them to build up enough credit to purchase. Second, where are the jobs to support extra population? The defaults, for the most part, aren't because people just up and decided to stop paying. They lost their jobs, therefore couldn't pay.
Bring back jobs and the problem will be solved (somewhat).
You assume that immigrants would need a loan and a job to move here and purchase a home. What if the stipulation was "you buy a home for cash and start a business and then you can immigrate into the US?"
Would this work?
I know in Canada, they have investor class visa where basically if you invest a certain amount of money in Canada you can come in... Worked very well for Toronto and especially Vancouver. In the 90's those cities were economic basketcases... Now they are some of the most prosperous cities in the developed world.
I suspect illegal immigrants are primarily here to remit funds to their family in their home country. They would do legally what is now done illegaly which is include multiple families in a single household to reduce overall occupany expenses so as to be able to send funds to their families.
If they were legal then they could apply for the family members to come to the U.S.
The problem with illegal immigrants is four fold: 1. No taxes to local and federal gov't.(will except local sales tax) 2. Limited reinvestment into local community. 3. Draw on public services 4. No loyalty to the United States.
Legalizing their status would alleviate item #1 and part of #2 in the housing but would increase #3. I do not know about #4 as it appears multicultralism is our current course.
I suspect they might not have any credit and so we would see a considerable increase in empty houses being purchased by other than the recently legalized illegals but inturn being rented out to them.
All you need to do to change something from illegal to legal is change a law... What would happen if it was legal to bring in immigrants to buy up homes (for cash) is the question?
We have legal immigration. If the solution is to let legal immigrants buy up forclosed homes, why havent they dont it yet?
We have legal immigration. If the solution is to let legal immigrants buy up forclosed homes, why havent they dont it yet?
I don't know, maybe there just aren't enough legal immigrants to buy up the current empty homes?
What Canada did as well was increase absolute numbers of legal immigrants...
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