> All the people gloating about more domestic jobs forgot that corporations are now outsourcing more than ever.
Further action needs to be taken against that. Personally I think offshoring is a far worse problem for workers than H1-Bs, but a harder one to solve.
H1-Bs should be limited to people significantly better than average, and some innovative regulation needs to be concocted to discourage and punish offshoring.
"Personally I think offshoring is a far worse problem for workers than H1-Bs".
Yes, it's complicated. Arguably, when foreigners buy American made software eg, Microsoft products, they are offshoring software development to America.
So... if you start limiting software "imports" aka offshoring, other countries will do the same. So Microsoft will sell a lot less.
> So... if you start limiting software "imports" aka offshoring, other countries will do the same. So Microsoft will sell a lot less.
1. You don't really have to target software "imports," especially since software is only part of the offshoring problem. It makes more sense to go directly after certain kinds of employment and labor contracting agreements.
2. Also, you really only have to target India and you solve most of the problem.
> 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.
Considering how aggressively the industry has been outsourcing _before_ this change, I wouldn’t jump to the conclusion this is going to end in a renaissance for US tech workers.
> The question is, can your talent remain competitive and can you make new one?
I've worked with tons of H1-Bs: their talent distribution isn't any better than native-born Americans and companies aren't any more selective when hiring them. Also, almost all of them were US-educated.
The U.S. has almost no skilled immigration until 1990, with the exception of German scientists fleeing the country in World War II. Yet it became a world power.
The US definitely had lots of skilled immigration before 1990. For example, almost the entire Avro Arrow development team moved from Canada to NASA in the 1960's.
The immigrants before 1990 had all kinds of skills, including people like Einstein, Von Neumann, Fermi, the data wasn't collected, probably because immigration was open. They didn't need special visas.
It sounds like if you put down less than 20% that part is insured by somebody else so the government doesn't need to re-coup the full 100% to be even as they can get 10+% from somebody else.
> People on a temporary visa should not be given mortgages anyway.
Uh did you think that through?
> Are the banks dumb? If they leave you're never going to recoup the balance.
Maybe you believe someone will pack a house into a suitcase when they leave or that foreclosure isn't a thing.
From a capitalist perspective, encouraging guest workers to take on fixed collateralized debt is an excellent anchor to reduce turnover, in addition to holding their workers' visas hostage and nudging them to start families. The result is cheaper, compliant workers who won't unionize, strike, or complain about abuse. As long as it's kept secret and doesn't make it to social media or the legacy news. It's similar to students loans and personal debt in that way because it keeps people tethered to a job they might hate.
