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They're not the only beneficiaries. I can think of a few moderately-wealthy foreign-born H1Bs (and equivalent) living in Northern California who might have half
by hugh3 15y ago
They're not the only beneficiaries. I can think of a few moderately-wealthy foreign-born H1Bs (and equivalent) living in Northern California who might have half a million spare and wouldn't mind buying a $500K house and getting a free greencard if it'd save them the trouble of going through the usual immigration process. Picking, just as a random example, say, me.
I'm not even sure whether I want to remain in the US long term, but if offered a free greencard I'd say yes.
- DeanCollinsLCC 15y agoyou might want to google Heart Taxation Act before you say yes to that proposal.
- dudewtf 15y agoDude, anyone with half a million dollars spare isn't moderately wealthy but filthy fucking RICH, with capital R, I, C, and H. $500.000 is more than 99.9% of people in this world will make in their entire lifespan.
- trevelyan 15y agoThe direct beneficiaries are American homeowners, who get higher prices for overvalued assets and financial institutions holding housing as collateral. The losers are lower-income Americans (often also recent immigrants) for whom the cost of housing remains out of reach.
- abbasmehdi 15y agoExcellent conclusion, David. I have seen this play out in vancouver, british columbia. Look it up.