Over_ed said:
infinity ag said:
You should care. Because it hurts you, your kids, your grandkids. If you don't have these, then it hurts your friends and your country men and women.
1. A job an H1B takes up is something that an American is deprived of. Win-lose. Don't buy into corporate bs of "we didn't have skills in the US, so we had to bring in Rajesh". US corporations don't want to hire fresh grads and train them and build a pipeline of local talent. Instead they want quick fixes which in the long run robs the country of expertise as locals can't get trained and foreigners can.
2. H1Bs not getting loans means housing prices will fall in H1B-rich cities. That means Dallas, SF, Seattle etc. That may not be bad news but if you bought at the high, it could be. In areas where only H1Bs can afford, it could cause a crash.
3. H1Bs send a lot of money out of the country. Usually to India. That money does not circulate in the US economy like it should It is gone forever.
4. As H1Bs take up more and more jobs, locals cannot get those jobs so they leave and get into lower paying jobs. So tax revenues fall and US cities start to suffer. Eventually we become the 3rd world.
Remember, nothing in life is free. We sold out our long term interest for short term gains. Now we suffer. We better reverse this.
Good OP, but this follow-up needs a few changes (by the points see bold)
1. You are always arguing that H1Bs are low talent. Now they are so talented the can supply "quick fixes" without needing to train up?
2. Even in H1B rich cities, the prospect of fewer FUTURE sales to H1Bs is very unlikely to move prices.
3. You really, really, really need to learn something about economics. I can't address this in full, but consider this: Suppose every H1B took all their pay in cash, then burned the whole pile. Would that make your dollars worth less or more?
4. Do you really think H1Bs are paying less property or sales (or income for that matter) tax?
Perhaps taking a bit longer to think about what you are posting? And no disrespect intended.
1. They are mostly low talent. There are always a few good ones. The group has the few capable ones and 80% new/clueless ones who learn on the job at your cost. American workers are out of this loop.
2. Depends on what percentage these loans are. It doesn't seem to be a lot but more law changes are coming so I think this will impact housing in H1B rich cities. H1Bs are slowly getting eased out and many are planning to move back as they'd rather go back now than when their kids are in high school so this will cause some selling.
3. Don't teach me economics. Most of this is common sense. Don't just go by your textbook. When H1Bs take over a town economically by capturing most of the jobs, the locals cannot get jobs as they are deemed "expensive". They are unemployed and eventually leave the town increasing H1B capture. H1Bs are not invested in the city like the locals were, they are just here for the money and will go anywhere they can get more. This causes towns to decay and die. You cannot just increase taxes, that will accelerate people leaving.
4. They pay the same tax but they send a lot of their income overseas. That is the problem. And due to employment practices, they drive locals out.
Don't start on the "read economics" bs. Our elite/leaders have had all the economics knowledge and have trashed the economy and made it good just for investors (like myself). Our kids are all suffering. No, not everyone wants to do HVAC or be a plumber.
I don't want to take my own thread off track, so I will only discuss impact on the housing market.
Rules impacting H1Bs will impact housing and lower prices. Good for people who want to buy, bad for people who want to sell. Watch out.