Lindsey: Housing Needs Free Market Fix

[moh malekpour]

http://moneynews.newsmax.com/streettalk/lindsey_immigrants_houses/2008/06/24/107101.html

"By contrast, 'targeted' immigration might just work the trick," he writes.


His idea: give a provisional green card to anyone investing at least $10 million in residential property and holding it for five years, with a $1 million per property cap.


"A mere 100,000 people signing up would not only pump a minimum of $1 trillion into the housing industry, they would also absorb at least one third of the current excess inventory," he argues.

Lindsey doesn't say how they should pay for the $10 million residential properties: 100% cash or 100% financing? Maybe that $1 million Cap is the downpayment or maybe an Alt-A loan would do it. You know, the liar no doc verification loan.