Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
Yes but that one poster was making it seem like Kushner invented the program .
Obama expanded it .
nope, I did not infer that, but I sure don't recall any of Obama's family selling US citizenship to the Chinese, do you? PS Obama did not expand the program, he signed a single extension of it in 2016, it was set to expire in 2017 but Trump extended it.
nope, I did not infer that, but I sure don't recall any of Obama's family selling US citizenship to the Chinese, do you? PS Obama did not expand the program, he signed a single extension of it in 2016, it was set to expire in 2017 but Trump extended it.
Around 2009 I notice all the nice cars aren't in the parking lot anymore at the mall. The cars are about half nice and half old cars. I hear all these stories about housing foreclosures too. It appears that many of these people understood they got in over their heads with these loans for cars and houses. Those real estate agents I mentioned were neck deep in this fraud. They knew the low wage employees that were buying those houses couldn't afford it. And why were 20 year olds making $6000 a month selling houses? These are people with hardly any experience in life and they were making that kinda money? That's just wrong because people that young shouldn't start life out that way when their isn't any education or experience to justify it.
Flash forward to 2017. How many 20 year olds have been making $6000+ a month selling real estate? I've been noticing an over abundance of nice cars on the road the last few years too. It does appear were headed for another market crash. But this one will be worse than 2008 because the jobs these people are working are low paying, part-time jobs created the last 5 years.
I guess I would be one of those that couldn't afford it when based on income/debt ratios...
When I bought my first home... I could not get a loan but I had enough money to pay cash for my house.
Crazy isn't it.... could not get a loan, NO bad credit, yet could not qualify.
The homes I wanted were modest homes in decent neighborhoods... seems working 3 part time jobs all through school did not make me loan material... I started paying into Social Security at age 12.
So I bought the absolute cheapest 600 square foot shack built in 1910 on a 25x100 lot that was set for condemnation hearing... paid cash... put all my savings, sold my car, etc. to scrape together the money.
How fair is it to say people were put into homes they couldn't afford when the buyers had to sign the documents?
Many gambled and lost... many thought today's high price would be seen as a bargain looking back...
What I saw is a lot of people that gambled and lost and even more that used their home as an ATM until they couldn't and then walked away.
I lived in Bay area when I was in grad school, and have a client out there. Unless you're right on the coast, or in the vineyards far away from employment centers, Bay area at least to me is as ugly as it gets. Scenery is brown, roads are congested, almost every house that's considered "normal" looks like a single wide or at best a double wide trailer, schools are sub-par, wages for every day work haven't kept up with the increase in housing costs, and petty crime is everywhere.
East bay looks exactly like Jo'burg to me, for any of you that have ever been there.
The East Bay covers a lot of territory... Piedmont with some of the best schools in the State and near zero crime... 100% encompassed by Oakland... then you have lovely areas like Lafayette, Alamo, Danville, etc...
Don't know what double wides look like where you hail from but they must be very nice.
You gotta thank Obama again because he created a visa that allows rich foreigners to bring over $500k and start a business they get to stay here with this visa. Basically cash for entry into America.
Since China is a cash economy, even an average chinese worker has more cash than the average middle class American. Most Chinese carries no revolving debt, they borrow to start a business and with the debt they bust their butts to make the money and pay it off. Then most of them here use the business or asset to buy property here and many that came many years ago to CA are now multi-millionaires due to their properties. While most Americans at that time have sold off their homes due to the housing crisis and recession. Many Chinese kept working and buying properties.
You gotta thank Obama again because he created a visa that allows rich foreigners to bring over $500k and start a business they get to stay here with this visa. Basically cash for entry into America.
The EB-5 Visa program was not created by Obama, it was established in 1990 by George H.W. Bush
True . Some stuff out of state is surprisingly expensive too and despite CA generally having high taxes ,property taxes aren't as crazy as some states .
Property taxes stay low thanks to Prop 13 too . A big reason why many that are long time homeowners are unlikely to leave the state .
Regarding being able to buy with low down that no doubt also keeps prices higher .
If everyone had to put 25% down there would be less buyers . With FHA you can put only 3.5 percent down and there are even down payment assistance programs and other programs where people can put next to nothing down.
I heard even with some conventional non FHA you can do low down too now .
Lending has definitely loosened up from the crash years .
Now lending is easier .. but prices are much higher and hard to find a deal .
During the crash it was easy pickings .
My home I bought in L.A in 2010 was sitting on the market for months ! Now stuff goes in days or hours many times .
Some things do feel similar to the bubble era last time around 2006 2007 but of course things are different because people were buying with liar loans .
When the next bubble bursts it won't necessarily be due to subprime loans; in fact, it most likely will not be due to that. There are a number of vulnerabilities in the national and global markets which could fall through given the right conditions, some of which could directly or indirectly affect the housing market. There's the China Debt Bubble, the Tech Bubble, and the Student Loan Bubble, for example.
You need a lot more than 100K a year to buy a 1.2 million dollar house unless you have cash or a heckuva down payment.
And stop signs are painted red- your point would be(?)
Please register to post and access all features of our very popular forum. It is free and quick. Over $68,000 in prizes has already been given out to active posters on our forum. Additional giveaways are planned.
Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
