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Old 03-06-2017, 03:27 PM
 
Location: San Jose, CA
1,302 posts, read 2,763,285 times
Reputation: 737

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Quote:
Originally Posted by BayAreaHillbilly View Post
I was referring to SFH.

Condos always drop a lot when the market softens.
Oh okay, I thought you meant generally. Most people I know only look at condos when it comes to markets near tech HQs, due to cost.
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Old 03-06-2017, 03:41 PM
 
26 posts, read 38,742 times
Reputation: 38
Indians make up 75% of the techies in SV. I have given links to prove that. I did not make up this figure on my own.
If you have some other figures kindly post them and I will stand corrected.
A lot of people contradict me, but give no proof. Is it that you can't find proof?

In a matter of some time ALL non US citizens from SV will be gone. It is a matter of record as stated by those who are running the country now. That includes most of 75% Indian techies.

I don't know which part is difficult to understand?

What the effect of the departure of non US citizens from SV would be on the real estate market?
Frankly, I don't know and nobody knows. May be nothing.

Again if you have a different opinion, that is fine, just provide some links, like I have.

I greatly appreciate when someone backs up his/her opinions with some data.

Thank you.

Last edited by WestCoaster99; 03-06-2017 at 04:46 PM..
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Old 03-06-2017, 04:51 PM
 
Location: San Jose, CA
1,302 posts, read 2,763,285 times
Reputation: 737
Quote:
Originally Posted by WestCoaster99 View Post
Cardinal, Americans don't need a visa to come here.

Indians need a visa to get to USA. I have given links, according to surveys, Indians make 75% of the techies in SV. Look up the links above.

You are also correct, in years before, people just came here and stayed.

Now you cannot enter this country even if you have a visa.

It is going to get much worse. This is just the start; Trump is just warming up.
Duh, now you understand why not EVERYONE that came to Silicon Valley used an H1b visa. Some people came to the Silicon Valley without a visa, therefore NOT EVERYONE came here with an H1b visa.



Quote:
Indians make 75% of the techies in SV. Look up the links above.
I looked at your links and couldn't find it. Put one link and the quote. Use the QUOTE tags.

Thanks.
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Old 03-07-2017, 01:12 AM
 
Location: Silicon Valley
1,517 posts, read 619,529 times
Reputation: 3020
Quote:
Originally Posted by WestCoaster99 View Post
No, every techie in SV came on H1b; there is nothing in the US laws that allows immigration of engineers any other way, but obviously you did not know that.

The visa is issued for three years with a three years extension. Then the recipient can apply for a green card that has a waiting period of ten years; in the meantime the applicant is " out of status" and subject to deportation. In the meantime the person is an indentured slave.

Let me repeat that, most if not all the Asians in SV are subject to deportation.

Read what Steve Bannon, the President's Chief Advisor has said publicly.

Know your facts before you contradict someone.
Did you ask to get facts and then cite Steve Bannon? Do you know how many generations of Asians have lived in California? Bwhahahaha

Dude, I know it's legal now, but put the pipe down and come up for some air.
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Old 03-07-2017, 04:27 AM
 
151 posts, read 123,565 times
Reputation: 102
Quote:
Originally Posted by cardinal2007 View Post
During the great recession I did see condos in San Bruno, San Jose and Redwood City drop 50%. I think the neighborhoods those condos are in are probably thought to be more upscale than in 2010-2011 when prices bottomed out in those buildings.

But overall your assessment is not quite right.
Location, location and location. Even the same zip-code, the same street, but opposite sides, 2 houses or condos might have different values. I believe the other poster mean good school and location.
Even a SFH in the bad location in San Jose would drop 100% value in downturn but slowly recover when the market heat up. The good location goes the other way.
My in-law missed a condo, sold in 2010 for 180K... and now comparable one is listed at $560K...
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Old 03-07-2017, 11:01 AM
 
Location: South Beach and DT Raleigh
10,876 posts, read 16,295,344 times
Reputation: 9696
Quote:
Originally Posted by WestCoaster99 View Post
Silicon Valley is run to a great extent on cheap imported labor.
It is reported that 74.3% of the techies in Silicon Valley are Asians, primarily Indians. They come here on a visa called H1b, which is indentured slavery, they are paid relatively low salaries and they can't change companies. By some accounts Asians make up about 40% of the population of Silicon Valley.

Trump Is Right: Silicon Valley Is Using H-1B Visas To Pay Low Wages To Immigrants | The Huffington Post

All of that is about to change.
What Trump's latest H-1B move means for workers and business - Mar. 4, 2017

This is just the beginning.

The essence of this post is that I believe the Asians will be gone from Silicon Valley, whether they are deported, go to Canada or leave on their own. Along with them will be gone the landlords who rent them, the grocers who sell them masala, and the Uber drivers who drive them around. It is a given, whether it takes few months or years, but current administration is here for at least four years; plenty of time. It is very clear as can be.

What would that do to SV economy? This post is not about race it is about economy. I for one think that immigration is good for the country, but I am not making the administration's policies. The Indians did a lot of good to US economy in more ways than one. I am sorry to see them gone.

Would the tech giants suddenly become patriotic and start hiring Americans at twice the salaries?
I don't think so, they would leave.

With such an exodus, the housing prices will fall by 50% or more. Most people are mortgaged to the hilt, any fall in prices will put them under water with short sales.

Did we not see this in 2009?
Deja Vu.
I am overly skeptical of absolutely everything that comes out of Trump's mouth but I am not unrealistic about the consequences of the aftermath of what he says.
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Old 03-07-2017, 01:30 PM
 
Location: California
3,960 posts, read 4,572,714 times
Reputation: 7744
Here are the current job openings for foreigners:

Top 100 H1B Visa Sponsors -2016 H1B Visa Report | MyVisaJobs.com

I have no sympathy for their pay as Americans should be filling those many positions. The country will go on whether they are here or not so I don't think there is a reason to cry about the housing market.

If you are an American I would suggest you apply at the companies listed because going after foreign workers and then ask them why they don't hire Americans.
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Old 03-07-2017, 03:26 PM
 
Location: Northern Rockies
129 posts, read 71,026 times
Reputation: 198
Given the hundreds of millions of mostly undisclosed dollars spent by the SV lobby in favor of work visas, I imagine that further restrictions on their use would impact profit margins a great deal. Unclear how much effect if any this would have on the housing market though...
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Old 03-09-2017, 12:09 AM
 
383 posts, read 262,313 times
Reputation: 351
Indians do not make up 75% of tech jobs in SV. They do make up a significant number of contracting positions.

H1B make up less than 10% of permanent tech positions. Again, contracting is different. Remaining workers are either green card holders or US citizens; and many are foreign born (Israeli, European, Chinese, Korean, Indians, etc).

SV tech companies is probably the most meritocratic of all businesses. Performance trumps race, gender, etc, usually.

For many tech companies, cheap pay is irrelevant. At some companies, a senior engineer and manager can make 1-2x their salary in bonuses; can make $1M in 3-5 years for good performance. Do you think they care to save $10-20k in hiring H1B? They hire H1B because these are recent PhD graduates who are most qualified for the job.
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Old 03-09-2017, 01:20 AM
 
Location: Murrieta California
2,693 posts, read 3,105,056 times
Reputation: 1736
Quote:
Originally Posted by jk88cal View Post
Indians do not make up 75% of tech jobs in SV. They do make up a significant number of contracting positions.

H1B make up less than 10% of permanent tech positions. Again, contracting is different. Remaining workers are either green card holders or US citizens; and many are foreign born (Israeli, European, Chinese, Korean, Indians, etc).

SV tech companies is probably the most meritocratic of all businesses. Performance trumps race, gender, etc, usually.

For many tech companies, cheap pay is irrelevant. At some companies, a senior engineer and manager can make 1-2x their salary in bonuses; can make $1M in 3-5 years for good performance. Do you think they care to save $10-20k in hiring H1B? They hire H1B because these are recent PhD graduates who are most qualified for the job.
+1

I am glad to see an honest post by somebody that knows the truth. I was both a perm employee and contractor ( software engineer ) in SV for several years. The last company I worked at was a mid size company in Sunnyvale. Our engineering department was a mixture of everybody. The director and one engineer were both Indian and were permanent U.S. residents. There were also Koreans, Chinese, etc. and a,few white Americans like myself. You are right about it being a true meritocracy.
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