Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

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

To: Elroy Jetson who wrote (6018)	5/10/2004 4:51:36 PM
From: RealMuLan	Read Replies (1) \| Respond to of 116555

>>Some people have suggested that new immigrants stop at a Coldwell-Banker sales office to buy a new home just as soon as they are smuggled across the U.S. / Mexico border. Personally, I find this hard to believe. << I am not sure about Mexican immigrants, but I know plenty of Chinese immigrants buy house fast (in LA for example). There are hundreds of Chinese, with half million US$ cash (most obtained by embezzlement) in their pockets, and buy a house right after they come to the US (some of them bought before they formally immigrate here). In 1980s, those house buyers with cash were from Taiwan, and from 1990s, they are from Mainland China. If you do not believe, try to ask some realtors in LA or NYC. I read that a corrupter from WenZhou bought a building in Manhattan worth of US$18 million even before she came here. Although this amount of purchase may be rare, but half million house buyers are plenty And since late 1980s, a lot of Chinese immigrants are college graduate (including some illegal immigrants), and the first thing most of them to do after getting PR is to buy a house, and try to pay out asap.