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Political Discussion
Reply to "Hate towards H1-B visa holders"
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[quote=Anonymous][quote=Anonymous]The foreign workers who come in are also given housing. This affects rental rates. A two bedroom apartment in a high tech area is $6,000 plus. Corporations don’t blink but Americans being pushed out due to unaffordable rents sure do. [/quote] No. There are 2 things raising the rents in areas like SF: 1. Fixed property taxes and fixed rents so people stay in the area long after they would normally have moved on. 2. Rich foreign people - mostly from China - buy up properties in desirable areas of California and don’t even lease out the property, just let it sit there vacant (no hassles for them that way), to park their money away from the Chinese government. Higher demand, lower supply means higher prices. [/quote]
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