US opens housing market to China, Mexico, and Canada in hopes to bring buyers

[Large Sarge]

http://finance.yahoo.com/real-estate/article/113360/foreign-homebuyers-american-dream-fortune%20

[Twisted Titan]

I don't understand.......china has entire ghost cities.....so why not re invest?

[mick silver]

and yet people living here live in tents . our goverment forgot who they work for .

[k-os]

That's economic intervention that is going to fail us in the long term. This housing market was supposed to go down, it was a bubble. It needed to pop so that all of the regular people (the ones that knew they couldn't afford a house in 2006, but kept saving anyway) could afford to buy a house.

But no, now we are going to have foreign landlords and the people who were saving their FRNs in 2006 will be paying inflated rental rates.

Do the people that make policy refuse to use their brains and look ahead at possible pitfalls, or are they purposely trying to screw up everything? Damn it. I really want to know.

[JohnQPublic]

and yet people living here live in tents . our goverment forgot who they work for .

The banks?

[Joe King]

Do the people that make policy refuse to use their brains and look ahead at possible pitfalls, or are they purposely trying to screw up everything? Damn it. I really want to know.

I think that they're just doing what they see as necessary in order to keep the perma-growth ponzi-scheme going. It's all they know.
ie they're trying to grow the base.

[Ash_Williams]

That's economic intervention that is going to fail us in the long term. This housing market was supposed to go down, it was a bubble. It needed to pop so that all of the regular people (the ones that knew they couldn't afford a house in 2006, but kept saving anyway) could afford to buy a house.

But no, now we are going to have foreign landlords and the people who were saving their FRNs in 2006 will be paying inflated rental rates.

Do the people that make policy refuse to use their brains and look ahead at possible pitfalls, or are they purposely trying to screw up everything? Damn it. I really want to know.

A lot of people really, honestly, believe that inflation needs to happen and continue.
They're not even being deceptive or anything like that, they truly think that housing prices need to return to bubble levels for things to be "good again". Same people who cried about the banks that lent too much leading to the crash, then cried that the banks weren't lending enough for a recovery. It's their economic theory. They don't see production or consumption they just see dollars and dollars have to inflate and they'll damn well make it happen even if they have to dump grain into the sea while people starve.