A Cure for the Housing Crisis or The End Game Commences

From Drudge I learn that the Chinese are now organizing trips to California to hunt down real estate bargains.

SouFun, the biggest real estate website in China, is organising a trip next month to look at properties in California and possibly Nevada. Liu Jian, the company’s chief operating officer, said about 300 people had expressed interest in the idea in the three days since it was advertised, though the company would take only a small group on the first trip. “Given the problems in the Chinese market now, many people have been asking us about taking a look at overseas markets, especially the US,” he said.

And why not? The Chinese have over the last 10 years been hoarding lots and lots of little coupons that entitle them to acquire U.S. assets (we call them "dollars").

The only stumbling block would be obtaining visas. Let's see if there are renewed calls for expanding H1-B visas or even more expansive visas even in the face of rising unemployment because, well, these good, down-on-their-luck Americans just don't have exactly the rights skills we need in our high-tech economy to bring about the kind of recovery we need.