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With the property crash, combined with the dollar crash, buying in the US looks like a splendid idea. Can you get a green card based on being able to buy property there?

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With the property crash, combined with the dollar crash, buying in the US looks like a splendid idea. Can you get a green card based on being able to buy property there?

No. I don't think so.

I think it would make residency more straightforward and thats the springboard to a work permit which, after a couple of years morphs into the green card. Doable, but unpleasant enough certainly to put me off.

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With the property crash, combined with the dollar crash, buying in the US looks like a splendid idea. Can you get a green card based on being able to buy property there?

Sort of.

You can get a visa to live over here if you start a business and employ Americans. You do have to bring a substantial amount of money into the country though (100s of thousands dollars) but with the exchange rate being so favourable and the amount of money you guys have made on your houses its certainly possible.

or...you can marry an American

or...you can sell up, become a student and get an F1 visa and then marry an American.

Play football for LA Galaxy. After all, they sign any old sh*te these days. You'll get an O1 visa then (termed Alien with extraordinary talent).

Dont buy in Florida or California. Lovely house price crash there.

AB

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Guest Cletus VanDamme

Very tempting. I'd want to live there for a bit first before making the commitment though.

Seems unreal that you can trade a 1-bed flat in Hackney for a mansion in a nice town in the US.

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Guest Cletus VanDamme
Wait at least another year or two for the US. Prices will be lower, and so will teh FX rate.

No, in another year or two a UK seller might get 25% less for their flat/house than now, and the FX rate will likely be 1.8 or so.

I reckon now is the perfect time to buy in the US if you are selling a UK home. This combination of weak dollar, weak US house prices coupled with high sterling and high UK house prices won't last for long.

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With the property crash, combined with the dollar crash, buying in the US looks like a splendid idea. Can you get a green card based on being able to buy property there?

No, wouldn't help but it might make a difference if you were applying for citizenship after having had a green card for a number of years. Working in the US legally as a foreigner is very difficult, your options are:

1. find a company that will apply for an H1-B visa for you - there's only 60,000 of these awarded every year at the moment and they sell out in hours of the release date. You'll need a degree in a technical subject to qualify for the most part too.

2. find a company that will employ you in the UK for a year first and then transfer you on an L1 visa - again, you'll need a degree in the general case but it won't have to be technical necessarily. You can use this approach to open a branch of a UK company in the US too.

3. buy a US company for at least 1.5M USD and get a visa of some sort thrown in with the deal.

4. win the green card lottery (but not if you're British, we're excluded from that one).

5. get Canadian citizenship (a fair bit easier as they have a points system for work permits) and then use that to work in the US.

6. be a rock/movie/sports star - there's a special scheme for famous entertainers of one sort or another.

7. be a diplomat

Once you're in, you can start applying for a green card if you have someone (an employer) to sponsor you. Otherwise, if you're on an H1 or an L1, your time there is limited to 6 or 5 years (can't remember which). After you get your green card (which can take 5-6 years or longer), you have to wait a few years before you can apply for citizenship.

Having said all of that, I don't think there's anything to stop you retiring there so long as you can afford the health insurance, you're just not allowed to work.

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NOPE.

The USA is simply experiencing the property price slide first, while the UK is marching down exact same

path- albeit many bulls deny it, but the would, wouldnt they?

Wait at least another year or two for the US. Prices will be lower, and so will teh FX rate.

When everyone is talking about what a disaster the US suburbs are facing, it may be time to act.

That time is many months away

As history so clearly demonstrates! However, I think you are slightly wrong in the sense that we are not marching down the same "exact" path. The US property market has only inflated to irrationally exhuberant levels in certain regions, mostly along the coasts. While the entire country will feel the effects of Great Crash 2 most regions will see only a mild drop of about 20% or so from the peak. On the other hand, the UK has experienced total irrationality in HPI and will see commensurate drops throughout the realm.

Bottom line: the US will experience, in the words of Big Al, "some pain" as the "froth" is removed. Whereas in the UK the pain will be more like that which is experienced when a tazer gun is applied to certain extremeties for an extraordinarily lengthy period of time.

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No, in another year or two a UK seller might get 25% less for their flat/house than now, and the FX rate will likely be 1.8 or so.

I reckon now is the perfect time to buy in the US if you are selling a UK home. This combination of weak dollar, weak US house prices coupled with high sterling and high UK house prices won't last for long.

Remember Micheal Moore and his documentary on Flint Michigan? This is their house price reality

http://cgi.ebay.com/Attractive-3-BR-Invest...1QQcmdZViewItem

Widen your scope on ebay for other parts of Michigan and also Ohio. Check out some of the coming home threads on the expat forum. TBH I've thought about spending 100K on a holiday home in Florida, but the expat guys put me off big time, visa app for Brits is not what it was since 911.

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No, in another year or two a UK seller might get 25% less for their flat/house than now, and the FX rate will likely be 1.8 or so.

I reckon now is the perfect time to buy in the US if you are selling a UK home. This combination of weak dollar, weak US house prices coupled with high sterling and high UK house prices won't last for long.

Spot on. This is a wonderful window of opportunity and because it is a cycle it will not last for long. UK residents with UK funds have the almost perfect combination of factors.

I say "almost" because the US housing market is probably still 2 or 3 years from bottom. Sterling is at or near its peak. The UK housing market has already begun its decline and the top has been missed. The rising levels of supply in the UK means that a quick sale is less and less likely as each hour passes. The credit markets are moving in a very dangerous direction and the full effects are likely to be felt this side of Christmas as 100's of thousands of mortgages begin to reset at today's rates.

Sterling has been riding HPI and the need for Merv to keep hiking because of the inflationary fallout of the miracle policies of the last decade of Brownism. IR have started to have some nasty consequences for many people and a recession will undoubtedly begin unless IR are cut. Merv will do so at the first sign of a housing collapse and by that time the credit markets will have taken the easy money off the table due to the risk factor and the pound will follow house prices down by a commensurate amount.

I am also considering picking up another property in the US as I am fortunate to have a very long term marriage to a US citizen and hold more than half of my investments in that country. I wish I had taken out US citizenship myself as I still have to go through the green card process if I stay out for more than 12 months and this can take 2 years even if married to a US citizen. The problem is always health care as a package to cover a couple at retirement age is well north of $1k a month. A reasonably serious illness in the States will wipe you out financially. IF you are under 40 you may get a health care package (HMO) around $500-$600 per month. IF you work for a large organisation you usually get health care coverage thrown in.

I am counting on the miracle economy collapsing and house prices returning to equilibrium which will make it affordable to live in this country. We heard today that Brownism has created the largest gap between rich and poor for decades which is not a good sign for the long term health of this country. The old style divisions will re-emerge and it may do so along the lines of property ownership--a neo-feudalism if you like. The idea of an equal society with equal opportunities has been eroded by Brown's brand of champagne socialism and it may take quite a revolution in thinking and action to restore this nation to a place where opportunity to get ahead exists. It may well take the collapse of our economy under the weight of illusory house prices but the result will no doubt be better than a continuation of Brownism and the social divide that goes along with his policies.

It is noteworthy that the US seems to be the place where most people want to go when the chips are down. I suspect the money will follow suit when the cycle begins to take down the economies this side of the pond.

Edited by Realistbear

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Depends on what currency you are coming from,

but I reckon the trade-weighted dollar will slide. I agree, that Sterling may not be the best currency to hold.

My money is in the Canadian Dollar so far (and gold, of course)

MICHIGAN:

I was born in Detroit, and I am tracking Michigan prices on GEI:

http://www.greenenergyinvestors.com/index.php?showtopic=1811

Bubb, what kind of dislocation has happened in Detroit, Flint and other parts of the US for property to be worth $10,000? To me that's the equivalent of houses reverting back to being worth 5K in Toxteth, a fall from 70K to 5K overnight :o

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I used that phrase to show how wrong I think those are who say,

"Dont worry about the UK (or London), things are different from the USA."

Maybe they are. Many of the differences suggest teh slide will be worse in the UK

I think the sneeze:cold analogy still applies because nothing has changed to alter the long standing ratio. I believe the US will see an overall drop of around 20% and we will see 40%. Some US regions will see 60% down (condo prices in California and FL are already reflecting 50% declines where builders have had to unload quick) and we could see as much as 75% off on certain types of property in the UK such as poorly built flats in bad locations. It ain't going to be pretty that is for sure.

The bellwethers are all turning negative now: building stocks, reposessions/bankrupticis, supply levels.

Edited by Realistbear

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Sort of.

You can get a visa to live over here if you start a business and employ Americans. You do have to bring a substantial amount of money into the country though (100s of thousands dollars)

Sounds reasonable, Why do we not have the same visa requirements in this country? ohh I know such a rule wouldn't help Brown's miracle economy.

or...you can marry an American

Can I keep the English wife as well? :lol:

Play football for LA Galaxy. After all, they sign any old sh*te these days. You'll get an O1 visa then (termed Alien with extraordinary talent).

:lol:

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I think the sneeze:cold analogy still applies because nothing has changed to alter the long standing ratio. I believe the US will see an overall drop of around 20% and we will see 40%. Some US regions will see 60% down (condo prices in California and FL are already reflecting 50% declines where builders have had to unload quick) and we could see as much as 75% off on certain types of property in the UK such as poorly built flats in bad locations. It ain't going to be pretty that is for sure.

The bellwethers are all turning negative now: building stocks, reposessions/bankrupticis, supply levels.

I feel the same RB, I am watching the USD in horror though today having quoted several hundered thousand quid of contracts yesterday in USD at 0 margin (because we can't make anything at the current USD rate) and its continuing to slide.

HSBC forecast that the USD would hit around 2.10 before slipping back to 1.80 next year. I really hope that it is not going to continue on the slide, because we won't be able to change the USD to GBP at these rates, we will be forced to buy a US house! lol

Lets hope its right, otherwise we are in trouble.

I was thyinking about changing some of my money to USD when it got to 2 USD, glad i didn't. You are right though, people will stop selling USD at somepoint, otherise they will get flushed because it will make good toilet paper.

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Can I keep the English wife as well? :lol:

:lol:

You want 2 wives? Your ******ing mad!

Go and have a cold shower....... and then beat yourself with a wet towel. Your not thinking straight man!

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Bubb, what kind of dislocation has happened in Detroit, Flint and other parts of the US for property to be worth $10,000? To me that's the equivalent of houses reverting back to being worth 5K in Toxteth, a fall from 70K to 5K overnight :o

Hollowing out of the US Motor industry and other manufacturing activites. Detroit suffers due to "white flight"

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Dont buy in Florida or California. Lovely house price crash there.

yep - I was chatting to an underwriter about this. Many of the insurers ramped up their prices and cut cover all together in our favourite US cat zones - it is normal for markets to harden in this way after something like Katrina and the huge cost associated. Insurers got shakey about the predicted rise in natural disasters.

This led to massive price drops because if you cant get insurance...

So yeah, I agree the UK will follow this trend if the UK is designated a catastrophe zone. Despite our floods this is unlikely and is not helpful either. I mean, hands up all those who will buy a discounted property on a Sheffield flood plain?!

Although im officially lurking, it is worth educating a few peeps on this point! By all means move to Florida, GL getting cover and pay attention to the evacuation plans. 2005 saw record hurricane losses, 2006 saw a return to profit thanks to the hardening market and restricted cover, 2007 onwards... who knows. If you are prepared to take the risk then you can save yourself some money. Good luck with that.

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