How can an Illegal immigrant buy a house with zero credit, no job, and 0 money?

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Nov 18, 2021
8:10:50pm

Pretorian All-American

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Pretorian

Previous username: PoopTown LLC
Bio page: Pretorian
Joined: Oct 23, 2013
Last login: May 5, 2024
Total posts: 12,906 (19 FO)

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Messages

Author

Time

Here is what I dont understand.

rad dawg

11/18/21 7:41pm

I listened to this a couple months ago. Interesting points.

runitup590

11/18/21 7:43pm

What’s going to be interesting is when all of the boomers die off. They’re a

Polemic

11/18/21 7:44pm

Weird, I remember like 5 years ago when millenials were going to ruin the housing market because so many preferred to

Mike Honcho

11/18/21 7:45pm

Immigration. Unchecked.

Division Bell

11/18/21 7:45pm

This doesn't even get acknowledged, Id like to see a pie chart of accountability

Rhubarb

11/18/21 7:53pm

Illegal immigrants aren’t buying houses. They’re living in crowded homes.

Fatalplacebo

11/18/21 7:56pm

If true, even that has a ripple effect, and they are also renting

Rhubarb

11/18/21 8:01pm

Then the problem is those renters who are now buying homes suddenly have an

Fatalplacebo

11/18/21 8:08pm

How can an Illegal immigrant buy a house with zero credit, no job, and 0 money?

Pretorian

11/18/21 8:10pm

I meant to say aren’t. Corrected now.

Fatalplacebo

11/18/21 8:17pm

You’d think that were the case, but you’d be surprised that they can and are.

seacougar

11/19/21 1:37am

Ok, how?

Pretorian

11/19/21 10:01am

It may not be sustainable but it may not crash like 08 with demand and inflation

stealth

11/18/21 7:47pm

I think you may have answered your own question.

crack

11/18/21 7:47pm

Debt has been rising for a long time. It explains the how

rad dawg

11/18/21 7:51pm

Maybe this?

crack

11/18/21 7:52pm

Man, Warren is a lot grittier than I thought . . .

85fan

11/18/21 9:00pm

RE: Maybe this?

rad dawg

11/18/21 9:14pm

My parents, plus 2 of my uncles own 30+ homes between them.

rtNelson

11/18/21 7:48pm

Did they all start buying them in 2020 though?

rad dawg

11/18/21 7:49pm

No, but homes they own never hit the market again.

rtNelson

11/18/21 7:55pm

Are these homes sitting empty or do they have renters

novacoug1

11/18/21 8:32pm

China

homegrown

11/18/21 7:50pm

Banks and investors buying houses up as rentals as

bad84cougar

11/18/21 7:50pm

This seems most likely but havent they also been buying for awhile?

rad dawg

11/18/21 7:58pm

I’ve read there’s 30% more dollars in circulation than last year

Artist

11/18/21 7:51pm

Household disposable income is already back to pre pandemic levels.

rad dawg

11/18/21 7:53pm

Really? That is amazing. No wonder inflation (real inflation, not the govt

crack

11/18/21 7:53pm

It might be even worse than my number:

Artist

11/18/21 8:01pm

I am skeptical of stuff like this.

rad dawg

11/18/21 8:04pm

My simple brain says COVID significantly decreased the supply of stuff and then stimulus significantly increased the

Odysseus

11/18/21 7:51pm

Also, The remote work and exodus of ca has pushed people to cheaper states

stealth

11/18/21 9:04pm

Millennials are 25-40 and in prime home buying years. Many bought later than

cougarbob137

11/18/21 7:52pm

I talked to a realtor the other day. She mentioned a small RE corporation that s

kotacoug

11/18/21 7:57pm

Investment groups have been buying single family homes

HuskerFan2

11/18/21 7:58pm

Yep. This is the driving force and not just them.

kotacoug

11/18/21 7:58pm

This is reversing cause and effect.

All-American

11/18/21 8:14pm

Don't blame them since they can't get any interest on the cash. They gotta do

crack

11/18/21 8:17pm

True, but the longer they play the bigger the potential crash.

HuskerFan2

11/18/21 8:24pm

I dont understand why people think there is going to be a crash

Backcountry

11/18/21 10:05pm

Zillow already has stopped

novacoug1

11/18/21 8:33pm

They stopped buying. I doubt they will sell anything right now.

HuskerFan2

11/18/21 8:45pm

They are selling homes in my market currently.

rad dawg

11/19/21 7:20am

I had an unsolicited cash offer last week for m house in Utah. It is actually

Nat Gas Man

11/18/21 8:40pm

Late to the party but here’s my take:

stenso

11/18/21 8:38pm

That doesnt explain the sudden explosion in 2020 though.

rad dawg

11/18/21 8:53pm

10000 baby boomers retiring every day and many buying retirement houses in

Nat Gas Man

11/19/21 8:16am

Money has been very cheap for a long time. ~3% interest rates are attractive

reddead

11/18/21 8:54pm

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