Housing Values May Drop Over 50% In Silicon Valley (San Jose, Sunnyvale: rent, condos)

[JohnSoCal]

Originally Posted by WestCoaster99

Here is how it would, not very difficult to understand.

According to reports 74.3% of tech employees in SV are Asians. (Including all Asians).

With their departure, either voluntarily or involuntarily, the tech giants will have to hire Americans, at twice the wages. A new pending legislation mandates all companies to hire Americans first.

They will no to do that remaining in SV.

So they will move out of the area, taking ALL jobs with them. If they have to hire Americans, why should they remain here to pay them twice as much, they can be in Texas at half the price.
The main reason they are here, because Indians love this place, and want to come here as cheap labor. They paid them a salary of 65K per year (mandated by H1b visa). Would you as an American engineer work for 65 K in SV? We all know the answer.

Tech giants, like Google, Apple, Facebook etc. would have a small administrative offices here, but their workforce, which would now be American would be elsewhere.

Many tech companies are already planning to move out, and Trump has been in office only a little more than a month.

You don't have a clue what you are talking about. I have never heard such drivel. First, Trump is going after illegal immigrants. The H1B visa holders are legal. I haven't heard about all these companies planning to move out because of Trump. That is just plain stupid.

In fact Trump wants to change our immigration policy to a merit based one like Canada has so we can bring in more talented people that will contribute to our economy. This will make it easier for high tech workers to immigrate to the US. Indians aren't the only ones that like the SF Bay area. Most people like it.

[Lanienguyen]

Originally Posted by WestCoaster99

Silicon Valley is run to a great extent on cheap imported labor.
It is reported that 74.3% of the techies in Silicon Valley are Asians, primarily Indians. They come here on a visa called H1b, which is indentured slavery, they are paid relatively low salaries and they can't change companies. By some accounts Asians make up about 40% of the population of Silicon Valley.

Trump Is Right: Silicon Valley Is Using H-1B Visas To Pay Low Wages To Immigrants | The Huffington Post

All of that is about to change.
What Trump's latest H-1B move means for workers and business - Mar. 4, 2017

This is just the beginning.

The essence of this post is that I believe the Asians will be gone from Silicon Valley, whether they are deported, go to Canada or leave on their own. Along with them will be gone the landlords who rent them, the grocers who sell them masala, and the Uber drivers who drive them around. It is a given, whether it takes few months or years, but current administration is here for at least four years; plenty of time. It is very clear as can be.

What would that do to SV economy? This post is not about race it is about economy. I for one think that immigration is good for the country, but I am not making the administration's policies. The Indians did a lot of good to US economy in more ways than one. I am sorry to see them gone.

Would the tech giants suddenly become patriotic and start hiring Americans at twice the salaries?
I don't think so, they would leave.

With such an exodus, the housing prices will fall by 50% or more. Most people are mortgaged to the hilt, any fall in prices will put them under water with short sales.

Did we not see this in 2009?
Deja Vu.

LOL.. If H-1B visas gone, then I rent out my rental unit to Section 8. 2 BR for $2440/month, 3br $3385, 4 BR $3793 month. That well cover my expenses.
Anyway, were you here in 2000? what happen when dotcom bust? housing here stay the same. Most people bought house recently with all cashes or/and massive down payments, which they cash in from the stock market.

[BayAreaHillbilly]

Originally Posted by WestCoaster99

Silicon Valley is run to a great extent on cheap imported labor.
It is reported that 74.3% of the techies in Silicon Valley are Asians, primarily Indians. They come here on a visa called H1b, which is indentured slavery, they are paid relatively low salaries and they can't change companies. By some accounts Asians make up about 40% of the population of Silicon Valley.

Trump Is Right: Silicon Valley Is Using H-1B Visas To Pay Low Wages To Immigrants | The Huffington Post

All of that is about to change.
What Trump's latest H-1B move means for workers and business - Mar. 4, 2017

This is just the beginning.

The essence of this post is that I believe the Asians will be gone from Silicon Valley, whether they are deported, go to Canada or leave on their own. Along with them will be gone the landlords who rent them, the grocers who sell them masala, and the Uber drivers who drive them around. It is a given, whether it takes few months or years, but current administration is here for at least four years; plenty of time. It is very clear as can be.

What would that do to SV economy? This post is not about race it is about economy. I for one think that immigration is good for the country, but I am not making the administration's policies. The Indians did a lot of good to US economy in more ways than one. I am sorry to see them gone.

Would the tech giants suddenly become patriotic and start hiring Americans at twice the salaries?
I don't think so, they would leave.

With such an exodus, the housing prices will fall by 50% or more. Most people are mortgaged to the hilt, any fall in prices will put them under water with short sales.

Did we not see this in 2009?
Deja Vu.

The only places in the Bay Area that I know of having had a 50% drop in the past were way, way out. Like Discovery Bay, parts of Concord, Hollister, etc.

Closer in places, even during the Great Recession, did not see that type of drop. No one is making more buildable land at good commute distance with acceptable schools. H1Bs are not much of consideration for the closer in SFH markets and at tech firm HQ operations.

[bobby_guz_man]

I am not sure who's dumber: the original poster or the posters who keep responding to him/her. Thread is bait, just let it die folks *sigh*

[cardinal2007]

Originally Posted by WestCoaster99

No, every techie in SV came on H1b; there is nothing in the US laws that allows immigration of engineers any other way, but obviously you did not know that.

The visa is issued for three years with a three years extension. Then the recipient can apply for a green card that has a waiting period of ten years; in the meantime the applicant is " out of status" and subject to deportation. In the meantime the person is an indentured slave.

Let me repeat that, most if not all the Asians in SV are subject to deportation.

Read what Steve Bannon, the President's Chief Advisor has said publicly.

Know your facts before you contradict someone.

Let's stick to real facts rather than alternative facts.
In 2010 half of tech workers were Asian.

To disprove your assessment, I will say that I used to work with a "techie" who was born in Georgia and came to Silicon Valley without a visa, according to him he took a flight to San Jose, from Atlanta on Delta, he didn't specify further. So no not every "techie" came on an H1b.

You're wrong. For more famous examples I will tell you that Mark Zuckerberg who founded Facebook did not. Come here on an H1b, similarly Larry Page founder of Google, Alphabet CEO did not come here on an H1b. Same thing about the other Google CEO, Sergey Brin did not come to Silicon Valley on an H1b visa. Larry Ellison founder of Oracle did not come here on an H1b. Tim Cook CEO of Apple did not come here on an H1b visa.

So you're just plain wrong.

[cardinal2007]

Originally Posted by BayAreaHillbilly

The only places in the Bay Area that I know of having had a 50% drop in the past were way, way out. Like Discovery Bay, parts of Concord, Hollister, etc.

Closer in places, even during the Great Recession, did not see that type of drop. No one is making more buildable land at good commute distance with acceptable schools. H1Bs are not much of consideration for the closer in SFH markets and at tech firm HQ operations.

During the great recession I did see condos in San Bruno, San Jose and Redwood City drop 50%. I think the neighborhoods those condos are in are probably thought to be more upscale than in 2010-2011 when prices bottomed out in those buildings.

But overall your assessment is not quite right.

[BayAreaHillbilly]

Originally Posted by cardinal2007

During the great recession I did see condos in San Bruno, San Jose and Redwood City drop 50%. I think the neighborhoods those condos are in are probably thought to be more upscale than in 2010-2011 when prices bottomed out in those buildings.

But overall your assessment is not quite right.

I was referring to SFH.

Condos always drop a lot when the market softens.

[WestCoaster99]

Cardinal, Americans don't need a visa to come here.

Indians need a visa to get to USA. I have given links, according to surveys, Indians make 75% of the techies in SV. Look up the links above.

You are also correct, in years before, people just came here and stayed.

Now you cannot enter this country even if you have a visa.

It is going to get much worse. This is just the start; Trump is just warming up.

[MediocreButArrogant]

Should be obvious that OP knows nothing of the tech industry, therefore these are fantasy threads from the OP, bitter about not having the talents to command a salary that would enable him to live in a desirable CA location.

[JohnSoCal]

Originally Posted by WestCoaster99

Cardinal, Americans don't need a visa to come here.

Indians need a visa to get to USA. I have given links, according to surveys, Indians make 75% of the techies in SV. Look up the links above.

You are also correct, in years before, people just came here and stayed.

Now you cannot enter this country even if you have a visa.

It is going to get much worse. This is just the start; Trump is just warming up.

I give up and will stop feeding the troll.