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Looks like the U.S. is now copying what Canada, Australia, and New Zealand started doing around 1990. Not only do they get the international education dollars,

by vorg 11y ago

Looks like the U.S. is now copying what Canada, Australia, and New Zealand started doing around 1990. Not only do they get the international education dollars, but they also get their residential property market going up again, with the flow on effects on rents and house prices. Expect the U.S. laws to change to make it easier for international students to get a job in the U.S. and eventually stay permanently, just like what happened in Canada, Australia, and NZ.

whybroke 11y ago
> ...they also get their residential property market going up... Of all the problems the US faces, excessively _low_ housing costs is not one of them. Indeed, if the effect would be to raise housing costs then this alone would be a reason to rethink the policy.
- vorg 11y ago
  The effect will be to raise housing costs because that profits people who invest in houses. Voters want to get a job, borrow to buy a house, then sell it at a huge gain so they can retire early. U.S. voters are just like those in Canada, Australia, and New Zealand, and since the 2008 crash, will vote to restrict housing supply via zoning laws and boost buyer and renter supply via international students, and the flow-on effects in immigration and tourism -- students who graduate want to get a job and stay, and their families back home will come visit them -- just like what happened in Canada, Australia, and New Zealand.
  - whybroke 11y ago
    Not just speculating land owners but also the financial institutions profiting from issuing mortgages whose influence on policy is obviously enormous. And while loosening zoning laws wouldn't hurt, there has not been any radical increase in such laws over the last 20 years, certainly not across the whole nation. Yet housing prices have sky rocketed over the same period, even in areas where zoning is lax. So, while it may help some, a real solution is evidently not going to be as facile as some re-zoning.

by vorg 11y ago

whybroke 11y ago

> ...they also get their residential property market going up... Of all the problems the US faces, excessively _low_ housing costs is not one of them. Indeed, if the effect would be to raise housing costs then this alone would be a reason to rethink the policy.

vorg 11y ago
The effect will be to raise housing costs because that profits people who invest in houses. Voters want to get a job, borrow to buy a house, then sell it at a huge gain so they can retire early. U.S. voters are just like those in Canada, Australia, and New Zealand, and since the 2008 crash, will vote to restrict housing supply via zoning laws and boost buyer and renter supply via international students, and the flow-on effects in immigration and tourism -- students who graduate want to get a job and stay, and their families back home will come visit them -- just like what happened in Canada, Australia, and New Zealand.
- whybroke 11y ago
  Not just speculating land owners but also the financial institutions profiting from issuing mortgages whose influence on policy is obviously enormous. And while loosening zoning laws wouldn't hurt, there has not been any radical increase in such laws over the last 20 years, certainly not across the whole nation. Yet housing prices have sky rocketed over the same period, even in areas where zoning is lax. So, while it may help some, a real solution is evidently not going to be as facile as some re-zoning.