The rent is too damned high because money-laundering oligarchs bought all the real-estate to clean their oil money

Economy & Finance
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Sounds like a liberal wet dream fantasy…i am sare Kamala Harris will straighten it all out:stuck_out_tongue_closed_eyes:

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I think foreign buyers are mostly a myth in the Bay Area. There is so much tech money slouching around here. But the article talks about multifam that I have no idea.

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Pretty stupid boring boring. If there are many foreign buyers, it would help to reduce rent since many of these foreign buyers will compete with other landlords to lower rent.

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In my neck of the woods, which is in SF proper, there were 6 transactions of SFHs in a 2 block radius this past year. All of those SFHs are occupied by families. Two of them were purchased by folks that originate from China and they paid cash. This does not mean that the other 4 were not cash purchases either.

Zero houses were purchased for “anchor baby utilization.”

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I don’t think they’re a myth. In fact, we toured one Atherton newly built mansion with a layout that puzzled my mom, and when she asked the agent who would buy the place the response was “A family from China who will then move each of their kid’s families into the [very very large] bedooms”.

That said, recently, I hear the foreign transactions have dried up. Was told that in July 2018.

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Their kids work in GOOG or FB :slight_smile: So both of you are right.

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There’s a one child policy in China. How can the buyer have multiple children? Do many buyers have one child from each of the multiple wives?

I’m surprised that this multi-wife multi-children scenario can be common enough for the realtor and the builder to accommodate.

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The one child policy is a thing of the past. Everyone is allowed two now.

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Wow. Hadn’t thought about that. What about in Hong Kong? Or is it possible if you’re rich enough, you buy your way to extra kids?

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Is not strictly followed or enforced in the village. Emperor is too far away, village heads can doctor or close both eyes. Cities like Beijing, Shanghai, Tianjin… have to follow strictly, very close to political power. CPC is not as powerful as you might think, places far away from Beijing is near impossible to control.

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What’s the chance of these remote multi kids family ended up in Atherton? They are probably at the bottom of the socioeconomic ladder in a third world country

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Well, at least these 2nd child is not ready to occupy the Atherton bedrooms anytime soon

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Waaaaaaaaaaaay too much sponsoring of “elderly retired” parents from other countries by these anchor kids to immigrate to the US — that then just become a drain on society. I see it all the time — freeloader “elderly retired” parents that just don’t assimilate to the US.

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The only crime is “lying about the intent of the visit”. It’s legal to give birth in USA. How severe a penalty can be for lying about the intent of a visit in the visa application? They can still argue that their intention is tour USA during pregnancy and then there would be no intent to lie.

If you cross border without a visa and then give a birth, there would be no crimes involved.

This seems to be an over reaction and could be a waste of DOJ time. If a pregnant woman applies for a visa to visit USA, can she be denied due to her pregnancy status? She can enroll in community college as a student and study baby care :rofl:

This lawsuit did not charge the pregnant woman or new mothers. It only charge the people who organized this. It’s hard to win a case against pregnant women both legally and in public opinion.

“While it is not illegal for foreigners to give birth in the United States, it is illegal to lie on a visa applications about the intent of a visit.

The birth tourism companies allegedly schemed to defraud the government by helping their clients file visas that hid the true purpose of their visits, officials said. Other charges include immigration fraud, wire fraud, money laundering and aggravated identity theft.”

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There is no victim here. The pregnant women are beneficiaries from this scheme.

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For these pregnant women who want to have an American baby, they’re willingly paying $50k to hire these “criminal” organizers to help arrange the logistics. There’s no victims here. They have total freedom to move anywhere they like.

This is different from the human trafficking where some of the victims are real victims and some are willing customers.

Government wants to target the organizers since it’s morally wrong to charge the pregnant women and also legally difficult