H4 EAD going away! Start of a recession.
USCIS filed an update saying their plan to strip h4 EAD hasn't changed and are undergoing final approvals. A lot of immigrants in the Bay Area bought homes when their spouses started earning. With h4 EAD going away, a market crash and recession is imminent. https://www.firstpost.com/world/h4-visa-work-permit-donald-trump-govt-in-court-filing-confirms-plan-to-revoke-h4-ead-is-in-final-clearance-and-review-stage-5023311.html
How many employees in bay area have H4? i think that is quite negligible.
Waiting for recession. There will be some good buys on property.
There’s a lot of money to be made in recession. Trillion evaluations clearly need some correction.
Number of people getting impacted by this would be small but it will surely have a small impact on market.
The racist Green card policy discriminates against Indian legal immigrants making them wait for 12+ years for their green card as against 2 odd years for the rest. The fact that we are legal immigrants who compete for the top jobs in this country makes us a threat to the nationalist right and persona non grata to the left. And the logical demand of "don't discriminate on passport" is met with blanket "if you don't like it then leave" statements. The average indian immigrant deals with a lot more bureaucratic battles, shows up to work and cares for their family. I am however always grateful and indebted to the opportunities provided here, though I live in the constant fear that my spouse cannot pursue their career here. Every news item triggers an existential crisis.
It is not a racist policy at all but control of diversity.
1 in 6 is Indian by nationality. The states and cultures within India are very diverse. This is plain "Passport racism"
Good move
@Gunda sounds like you bought something you couldn’t really afford after your wife got EAD. Doesn’t mean everyone did the same.
I haven't bought anything. But I'm in the market to buy. Its not my situation but a situation of many.
Won't cause a recession but good buying opportunity. Sorry our immigration policy sucks, but if you need to sell I'm buying.
Come On dude you must be kidding.Recession because of scrapping h4 ead? Economy was pretty strong even before the government implemented this rule. I understand there could be recession in the household income for the families who has a h4 ead!!!
It's a chain reaction. Even 1000 families struggling to pay mortgage would end in foreclosures driving Wall Street fears and in panic people start selling which leads to lower tc for Bay Area since it's all stock inflated. This happens with more. Fears of people coming to life. Sellers start panicking and listing for lower prices. Buyer is fearful and not buying leading to further lowering of prices. Don't forget, after this bull run in the market, everyone, even you, know a recession is coming, we just don't know when. All it takes is someone to tip it over.
There's other sign, I don't think this really makes a diff but other stuff like Wells Fargo laying off a significant number of employees in their home mortgage division is a sign of what's coming
Recession because I pooped today?
what is "first post". I don't see the same news reported elsewhere.
That’s the reason it’s called first post.
See the court filing. It's attached.