US home prices and Legal Immigrants: Do spouses of LPRs hold the key?

The news article [US home prices drop 11.4 pct. in January] talks about "A widely watched index of U.S. home prices fell 11.4 percent in January, its steepest drop since data for the indicator was first collected in 1987.

Following is a link to an interesting idea that may help fix the problems of housing market

Here is a gist of the argument:

Offer Taxpaying Legal Permanent Residents (LPR, aka Green Card Holders) with spouses and nuclear families an option to fast-track the immigration petition (I-130) for their spouses in return for investing in the American Dream: A House!

Fact remains that LPRs:
* Pay Taxes
* Are on path to American Citizenship
* Some have spouses waiting for immigration to the US. The wait time is anywhere between 5-6 years!
* This is not a NEW category of immigrants since spouses and minor children will eventually enter American anyways
* More about the issue at UniteFamilies.org

The logic is simple. Reduce waiting time for spouses to enter America Legally in return for a BOOST in the Housing market.

•  Why target immigrants for more resentment?

  This would become a huge campaign issue.  It melds the two issues in a way that pits one group against another.

  by ksh01 on Tue Mar 25, 2008 at 07:53:59 AM PDT

  •  How so?

    All the poster is asking for is to let legal immigrants bring their spouses into the country in less than five years.  The idea is that it could be used to trigger more home sales, because the legal immigrants would have their families here and thus be more likely to buy a house.  I don't see how this is a bad thing in any way, or detrimental to anything.  I'm sure the right-wing neo-nazis would find something to get upset about, but for most people it shouldn't be a problem.  I think the average American would be shocked to learn that couples have to be separated for around five years to immigrate here legally anyway.

    by theboz on Tue Mar 25, 2008 at 08:27:25 AM PDT

    •  Nothing to do with resentment

      Thanks theboz
      You have summarized the points extremely well. You are right, the * Average American would be shocked to learn that couples have to be separated for around five years to immigrate here legally anyway. * Motivate Legal Immigrants to invest in the 'American Dream' at a point when the the economy and Housing sector could use a Boost

      by LegalImmigrant on Tue Mar 25, 2008 at 08:42:16 AM PDT

    •  I think in terms of the number of homes

      lost to foreclosure and potentially bought at or below what the original family paid by immigrants once unable to come to this country to buy such properties in the shorter time.

      I'm not making a judgment call on the quality of the idea outside of this context.  Just noting something that occurred to me: it may be a good idea in theory but in context may breed some resentment.

      As an aside, having worked with recent immigrant families in my city, I do note that immigrant families are more willing to band income together to purchase and keep a house, whereas many, many native born American families don't live with their extended families or have adult children living with them past their early 20s.  It's too bad, really.

      by ksh01 on Tue Mar 25, 2008 at 08:43:47 AM PDT

      •  I Can See What You're Saying

        And it's unfortunate that our society reacts this way.  

        I wouldn't at all be surprised to see the same people yelling about how the immigrants are "taking our jobs!" also yelling "Those damn immigrants are taking our jobs AND our homes"?

        A guy loses his job and often "foreigners" are blamed, whether due to outsourcing or immigration.  If losing that job makes his house get foreclosed on, and then a family of immigrants moves into it, that would likely breed resentment, as unfair as that sounds (and is).

        by karateexplosions on Tue Mar 25, 2008 at 08:55:00 AM PDT

        •  thanks, that's exactly what I mean

          I think Lou Dobbs would have a field day...

          by ksh01 on Tue Mar 25, 2008 at 08:59:05 AM PDT

  •  Why should people resent that legal residents

    would not want to be separated from their spouses for 5 years.

    by immigradvocate on Tue Mar 25, 2008 at 11:00:05 AM PDT

    •  I'll point you to karateexplosions' post

      above.  He says it more succinctly than I did.

      by ksh01 on Tue Mar 25, 2008 at 11:18:52 AM PDT

•  This is an Interesting perspective

  .. to a problem I had blogged about for a while
  As a taxpaying LPR in this predicament, I support this idea!

  by b2bhandshake on Tue Mar 25, 2008 at 08:48:19 AM PDT

•  What's happening is that people are losing their

  jobs and licenses and can't make their payments. They forclose or shortsale their house and it hurt everybody. Everybody knows that immigrants are being disproportionately affected by the real estate buble burst.
  The stock market goes down, we lose the equity in our houses. If you want to bring the housing market back, pass comprehensive immigration reform.

  by immigradvocate on Tue Mar 25, 2008 at 10:58:15 AM PDT