This explains a lot.
During the Biden administration, H-1B visa holders were buying houses with 97-100% financing. 97% would come from the FHA, with the rest coming from state first-time home buyer programs. Zero money down. Thanks to programs that were supposed to be helping low-income Americans...
So in areas with H-1B penetration, President Cabbage's FHA was extending mortgages with zero down to non-citizens. Naturally, the price of housing rose.
In greater MKE, there are dozens of firms which use H-1B. GE Medical, Milwaukee Electric Tool, Deluxe Data, M&I Data, Kohl's.........and those are just the large ones.
...The H1-Bs can bring their spouse and children under H-4. That H-4 can apply for an EAD, employment authorization document, and enter the workforce. So you are potentially replacing two American jobs, preventing American citizen home ownership and bringing more people in to compete for common goods driving demand and prices up. The kids can go to public schools which is taxpayer funded. ...
You'd almost think that President Cabbage and his henchmen hated actual American citizens.
You would not be wrong.
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