H-1B Visa Holders Disappear from US Housing Market

All the people gloating about more domestic jobs forgot that corporations are now outsourcing more than ever. It’s a lose lose for employees.

Did they proofread this at all?

> the Department of Housing and Urban Development announced that non-permanent residents ... would no longer be eligible for mortgages insured by the Federal Housing Administration (FHA)

> The reason why the number of FHA loans going to non-permanent residents has dropped in recent months, according to Thomas, is mostly that they are not buying anymore.

What? No, the reason why the number of FHA loans going to non-permanent residents has dropped is that they are not eligible for them. It literally says so at the beginning of the article.

No more foreign talent for the US of A. You are on your own now :)

That's not all.

This is even before the HIRE Act.

This is only for FHA loans, in which you can put down less than 20%. They can still get traditional mortgages.

People on a temporary visa should not be given mortgages anyway. Are the banks dumb? If they leave you're never going to recoup the balance.

Good riddance.