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Strategies & Market Trends : Mish's Global Economic Trend Analysis -- Ignore unavailable to you. Want to Upgrade?


To: RealMuLan who wrote (6009)5/10/2004 4:07:28 PM
From: Elroy Jetson  Read Replies (1) | Respond to of 116555
 
Keep in mind that for better or worse immigrants to America are heavily weighted toward those with low-skills and few assets.

How many $850k starter homes are going to be purchased by busboys, car wash workers and parking valets?

In spite of high levels of immigration into the U.S., residential rents continue to decline.

Nations like Australia give preference to high-skill or wealthy immigrants which has resulted in a different type of society.

home.pacbell.net

home.pacbell.net

home.pacbell.net

home.pacbell.net



To: RealMuLan who wrote (6009)5/10/2004 6:14:21 PM
From: NOW  Respond to of 116555
 
why would the immigration mitigate things to any significant degree. It of course is a factor, but the pool of avaialable buyers for total available property in Japan is in no way comprable to US



To: RealMuLan who wrote (6009)5/11/2004 12:23:16 AM
From: pogbull  Respond to of 116555
 
I don't know if the decline will be as deep here in the US but I think the rate of decline could well be steeper. Japanese citizens have the integrity to keep paying for their homes even though they are under water.

Many americans will simply walk away from their commitments. These homes will simply be auctioned off causing the prices to drop further, thus putting more people upside down.