(Mar 11, 2018 02:57 AM)Syne Wrote: [ -> ]Again, not watching dozens of videos, especially if you don't have the wherewithal to make your own arguments.
There’s no shortcuts to understanding complicated situations, sweetie. If you want to pop off and sound like a big shot, watch the videos and read the links.
Commodity Future Modernization Act of 2000 (wikipedia.org)
"Martin Lowy argued that America’s housing bubble couldn’t have inflated to dangerous proportions without massive inflows from Europe.
The crisis was built in just three years: 2004 through 2006. If no new financing sources had been added to the housing market after 2003, nothing extraordinary would have happened even if house prices had declined.
What made those three years extraordinary was the influx of foreign money into securitized mortgage-based products. That inflow enabled mortgage money to be advanced to people who couldn’t repay it.
Foreign money knows little about the domestic market and therefore relies on local banks, governments, or rating agencies. Investment banks seized on that weakness of the foreign money to use weaknesses in the system to promote badly underwritten mortgage products and pass them off as money-good."
The Real Cause of Americas Housing Bubble was Foreign Money
But shortly after, Chinese investors started pouring in and the prices continued to rise.
There was this little program that was created in 1990. We offered up citizenship through this
EB-5 Immigrant Investor Program, providing a method for eligible Immigrant Investors to become lawful permanent residents, but there was some shady shit here, as well. There were a few loopholes in it and the amount of jobs that it was supposed to create never actually took place.
Chinese customers quickly became the silver lining in, not only America’s real estate market, but also, Canada’s, Australia’s, etc. As the prices climb along with rent and property taxes, California residents are being forced out.
China’s Millionaire Migration
Chinese pouring over $110 billion into US real estate
There's a lot more to the story but so little time. Maybe next time, when Syne catches up.