Housing Values May Drop Over 50% In Silicon Valley (San Jose, Concord: section 8, short sale)

[silverkris]

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.

Rubbish. A lot of Asians, if not most, in SV are citizens or permanent residents. H1Bs are a very small number of them in this area.

[lvmensch]

Much nonsense. There is certainly an H1B problem. But it is not one that is going to change SV much.

The US semiconductor industry and a large portion of the US material scientists are Asian. Been that way for decades. But the vast majority are American Citizens. And next they are permanent residents. H1Bs are involved but are not vital. The other areas such as computer science have high Asian participation but are not dominated by them as is semiconductor.

So whacking at the H1B will cause minor perturbations but nothing serious.

[Ruth4Truth]

Originally Posted by WestCoaster99

No, every techie in SV came on H1b;.

You just lost your entire audience. Congratulations.

Originally Posted by WestCoaster99;

Know your facts before you contradict someone.

Indeed.

[simboticus]

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).

I don't know why I'm responding because you are clearly a troll, but I have a few minutes to kill, so what the heck.


Who gives a S*** what Steve Bannon says. Because I have lived and worked in silicon valley for over 30 years, I know that the % of asians is no where near 74%. You undermined your credibility right from the start. Now if you said something like, 85% of Oracle database admins are Indian, then I might take you seriously.

Software and Electrical engineers tend to have a higher % of Asians than other specialties, but the SV workforce is a lot more diverse than just software engineers.


https://www.census.gov/quickfacts/table/PST045215/06085

[oldtrader]

One thing that so many on these threads are not considering is that SV wants it's IT engineers to be the best educated as possible. Just because someone in a small U.S. Jerkwater quality college in the U.S. has an IT degree, does not mean they have a quality education required by SV employers. They want the best of the best. Of the top 50 universities in the world graduates, 60% are outside the U.S. often in China or Asian Countries. Of the U.S. top 50 universities there are not enough graduates available to the companies to fill their needs so they go to where they can find the best educated workers.

https://www.topuniversities.com/univ...mation-systems

In the SV tech workers are changing in IT companies as they have to go to other countries to find the workers from the top 50 universities. See the statistics.

Asian workers now dominate Silicon Valley tech jobs – The Mercury News

[WestCoaster99]

Nobody bothers to look at facts.
I have seen not ONE link that Indians living in SV are legal residents, let alone citizens, but everyone seem to harp on it.
And the percentage of Indians working in SV is " small ". " They are all US citizens " yeah right ! None of them are. Read on.

Here are some links for your perusal; if you disagree that is fine, back that up with a link, I will stand corrected.

Importing lower wages as 75% of Silicon Valley

37 percent of Silicon Valley foreign-born | Washington Examiner

Quote:
Nearly three-quarters — 74 percent — of Silicon Valley-employed computer and mathematical workers ages 25 to 44 are foreign-born, according to the 2016 Silicon Valley Index, which is released every February.

https://techcrunch.com/2017/01/31/in...-to-vancouver/

https://www.bloomberg.com/gadfly/art...on-immigration

I can go on and on; anything I have stated has back up links. I have not seen ONE link for any rebuttal. Just off the cuff remarks.

[GeoffD]

Originally Posted by simboticus

"Indentured slave" that is a gross mischaracterization.

Maybe not "indentured slave" but I've certainly heard them jokingly called "indentured servants" in my tech companies. Metro-Boston but any tech company is going to be the same way.

Personally, I'm totally fine with new grad foreign students getting hired as full time employees under H-1B. That's how it worked when I first started working in the early 1980's and it's a level playing field. I would try to make sure it was limited to graduates from "real" schools. A top-100 school? Sure. Some 1 year grad program at Western Flyover State? Nope.

In my startups, we typically used H-1B employees for job slots where none of the developers wanted to do the work. Repetitive task QA, mostly. Some low level bug fixing. Indentured servant isn't too far off. There's no way you could hire a bright new grad to do that work. Any US citizen you'd interview for the job slot usually wasn't bright & motivated enough to be worth hiring. It's not like you'd use an H-1B contractor for any job slot where they would be creating intellectual property. That's your institutional knowledge and the last thing you want is for it to vaporize back to India.

I have a big issue with big corporations using H-1B contractors to replace full time employees. I see that all the time. It's exploiting a loophole in the law that needs to be closed. I'd be pretty happy to see Tata and Infosys go out of business. I've seen them cause a lot of hardship to US citizens. Typically, they're not the top performers and they're doing fairly repetitive task tech jobs where they can be replaced by an H-1B with 30 days of training. It's a heck of a lot tougher for them to find work, particularly the older ones. I'd ban the whole contractor thing. If you're H-1B and you work in an office building, you have to be a full time employee of that corporation.

[yiata]

Originally Posted by WestCoaster99

Nobody bothers to look at facts.
I have seen not ONE link that Indians living in SV are legal residents, let alone citizens, but everyone seem to harp on it.
And the percentage of Indians working in SV is " small ". " They are all US citizens " yeah right ! None of them are. Read on.

Just an FYI - you can be both foreign born and a US citizen. In fact, I'm one such person and I work in the SV tech sector as an engineer. Also, what's your beef with foreign born workers? SV seems to be doing pretty well with these foreign born workers and has been an economic juggernaut. The top companies here are mostly meritocracies. If the FV workers aren't cutting it then they wouldn't be hiring them.

[JohnSoCal]

Originally Posted by simboticus

This is complete nonsense, OP you obviously don't work in SV. Sure there are a lot of asians, but only a small % are H-1B, and many of the rest are Americans. And, H1b workers are paid competitive wages, the government sets minimum salaries based on education, title, responsibilities. Companies can't just pay them whatever they want.

https://www.foreignlaborcert.doleta.gov/wages.cfm
FLCDataCenter.com

My wife handles the H-1B visas for her company, salaries have to be approved, and are the same as US workers. At least at her company, maybe there are abuses going on at some firms.

Even still, the number of H-1B workers is too low to have a drastic impact on the local economy.

It is true that the workers can't change jobs easily. That's fair though since the sponsoring company has to pay ~$10K in legal fees to get someone setup on an H1B visa.

And its also true that there are shortages of qualified American workers in some technical fields.

BTW I'm a white middle aged male Republican FWIW

I was a software engineer consultant in Silicon Valley and I agree with you 100%. I am also a white conservative Republican. I did a lot of the interviewing of software engineers at various SV companies. We would much rather hire Americans if we could find qualified ones. It was a lot harder to hire H1B visa holders because of the cost and all the regulations. The parties guilty of taking advantage of the Indian tech workers were the Indian recruiters, not the American companies.

Silicon Valley housing prices are not going to crash in the foreseeable future. They will probably level off as interest rates go up but don't expect a crash. The vast majority of people living and working in Silicon Valley like living and working there.

[phoenix_new]

I agree with JohnSoCal post, but by looking at the WestCoaster99's this and recent posts, what I think is that he has recently moved to SV. Before he moved, he assumed he can afford a house in Palo Alto/MV/Los altos, but after moving here he realized he really under estimated this market. And now he is desperate and looking for ways which can bring the SV housing market down.