THIS is the biggest most damaging lie ever told. But what IS true is, Banks lend more to foreginors coming to America, in the form of business loans, home loans, car loans, etc, which creates the visual perception that they are just rich and come from money and that's why they have the appearance of already having money when they move here. They (Asians, Indians, Turkish, Greecian, Italian, etcc.) are not ALL Rich when the come/move to America. common sense should tell you this....and as a matter of fact, a LOT of them come over here DEAD BROKE but are treated like Kings and Queens by the Banks. who lend enormously to them upon arrival. Why do Banks do this? Why not, new accounts, new debt. more money for them. They are not gonna lend to somebody that is already bottom up in debt. Most foreignors come over here with ZERO debt. Banks like that. THIS fact alone is proof that American Banks, enitce foreignors to come and live in America, so they give them incentives. home loans, car loans, school loans, all kinds of loans...etc.. You think the housing market downturn and almost crash is only due to middle class and poor people buying and losing homes are JUS Americans? NO!...foreignors are buying and losing homes too. very expensive ones, and are forced to move back to their country or into an apartment or smaller home in America. The real estate bubble blew up because more foreignors were getting approved for homes they couldn't afford more than loans were given to middle class and poor Americans. that's a fact. Banks benefit from adding new accounts vs. servicing old ones. and most Americans are already tied into various debt with the Banks, so the banks treat us like high risk and would rather loan to say like an Asian family that wants to experience the American dream and maybe own a business. so here's what happens: 1 . they may fly here on their own dime seeking to get their kid into an American college. they like it here. 2. the kid will get a student loan (foreign exchange or whatever..loan #1) 3. the parents will want to be closer so they go house shopping 4. the banks loan them whatever the house may cost, from $90K to $500K, just depends on their comfort level. (loan #2) 5. then say the dad wants to open a cleaners while he's here to pay for the house, 6. the Bank loans him the money to start the cleaners. (loan #3) 7. Gotta have a car, prefebly a Nissan/Toyota/Lexus (not racist, just true...loan#4) ALL these loans from American Banks. I know some of you will cry foul but the truth is the truth. they don't ALL come over here packed with money. a LOT of them come over here and flood the Banks. and the Banks allow this. YOu think all those empty half million/million dollar homes in your city were vacated by unlucky wealthy Americans or striahgt up poor Americans?...lol And now you know how Mr.Punjabi is able to own 2-3 7-11's in the ghetto and live in the most expensive part of your city, all while their kids go to the newer, cleaner schools tucked behind the gates. It's not hard to tell. Ask yourself, why is it that you NEVER see Asians/Hindus in the poorer community schools of the USA? they don't have gold bricks to cash in when they get to America to avoid the ghettos. they are actually given a major leg up by the Banks. So when the pundits get on TV and splash a run down foreclosed house and a poor family across the screen and blame the housing crisis on people like them. Just remember that it's some half million/million dollar foreclosures, vacated homes that the Foreignors left behind too and ran home. And the Banks can't do nothing about it but write it off as bad debt and pass the savings on to you and me, the Americans.
Two quick comments. You stated a lot of things, most of which are untrue and not a single one was proven. Secondly, this country was founded by immigrants and is inhabited by the progeny of immigrants. Your ancestors were immigrants. So whatever contribution immigrants have made to the U.S. are positive on balance. Be glad the best and brightest from other countries choose to bring their talents to our country. They benefit from it and so do all of us. I simply disagree with you completely on this subject.
Three quick comments in return: 1. YOu are confused. 2. You can check your local property tax division of the County clerk's office in your area and find out who the previous Owner's were for houses $250K and above and I bet you most of those for sale homes, foreclosures, and vacted homes were once owned by Foreignors who moved here, couldn't maitain for whatever reason, and left.and the house sits vacant collecting dust. 3. When you are treated with kit gloves and pampered by a society you are bound to have some of the best and brightest to emerge. this is true within any group of people that live undisturbed. if not, something's wrong with that people.
These are some of the underhanded tricks Banks are playing at American taxpayer expense, thus imploding our economy. and they have the American people fooled into believing that the housing bubble burst due to our own mis-management of funds. and some of that is true. there are American that bit off more than they could chew and lost their homes, businessese ,etc..but this topic aint about that... It's about the gross over-abundance afforded to DEAD BROKE foreignors just to entice them to take part in the American Dream. DEAD BROKE, fresh off the countryside from washing their clothes in a river to borrowing $600K home loan and relocation fees from Chase Bank to move to California so their kid can go to college on our dime for another $80K scholarship just because the kid was from Thailand.. Then the kid graduates and moves back to Thailand and finds a job...parents uproot and leave the house vacant, for sale, or foreclosed, take off, not held liable if they decide to bail on the loans because Chase won't track them down. just pass on the debt to the American taxpayers THAT'S HIGHWAY ROBBERY!!!! How can American be so FOOOLISH to continue to let this happpen?
1.) WTF is a Greecian? 2.) Foreigner, not foreignor. 3.) I don't believe you and you've provided no proof. 4.) I bet my credit score is still higher than yours.
I didn't believe the Hoover Dam was man-made until I did my own research. So You don't have to believe ME, just go to your local county clerk's office property tax division and ask for a list of all foresclosures, for sale homes and vacated homes $300K and above and bet you MY HOUSE that 8 outta 10 of them are owned by Foreeners(sp?..who cares) I have freinds that work in the areas of Banking and Real Estate so this is how I know these things. I hear it from the Horses mouth and see it with my own eyes basically and it's a real eyeopener as to why the American economy is in shambles. It's not all because some poor white trash family ran up a couple Visa cards. It's deeper than that.
and Ironically I'm inthe process of buying a new house in the $400K range and the listing I'm looking at is currently owned by the Bank aka Foreclosure. Hmm...So I wonder if this house was once owned by Welfare recipients???? or worse, a Foreigner that vacated it after he got down on his payments and just ran back to Taiwan?.... My bet is on the Foreigner. What say you? a negligent American? that's usually the kneejerk answer. Never blame the Foreigners, it's not P.C.
