DECLINE IN LATINO HOME BUYING SEEN AS EFFECT OF NEW STATE LAW (IN GEORGIA)

Cox News Service via The Fort Worth Star-Telegram ^ | 4 June 2006

[MeneMeneTekelUpharsin]

ATLANTA - Home buying among Latinos in metro Atlanta has slowed significantly in recent months amid jitters over immigration reform, say real estate agents and lenders who cater to the Spanish-speaking community. The cooldown is an early sign that a 2-month-old Georgia law intended to reduce illegal immigration could be having an effect. "There's no question that there's a panic in the Hispanic community," said Raymond Amengual, a lender with AHM Mortgage. "The problem is not so much their immigration status as the new laws that make them think they might not be able to work."

Illegal immigrants buy homes with Social Security numbers that don't belong to them or with individual tax identification numbers from the Internal Revenue Service. Amengual says eight of every 10 of his clients use the tax IDs. He's averaging three loans a month this spring, down from 10 a month last year. Real estate agents who cater to buyers with tax IDs report similar drops. How much the pause in home-buying among some Latinos will affect the national real estate market is difficult to tell. Housing industry professionals say much of the future growth in their industry hinges on minorities and immigrants, legal and illegal, because the Anglo population is not expanding as fast.

[MeneMeneTekelUpharsin]

Short, but sweet and to the point. At the very end of the article the truth is printed. Again, it points out how the house builders, real estate and the lenders were becoming filthy rich through servicing the illegal alien sector. The rest of us (in regular jobs) get to pay higher prices for everything as a result. Great law in Georgia -- need it EVERY WHERE! These firms are deliberately catering to illegal aliens because that is the major source of their profit. You know these people are trying to influence politicians against the will of the general populace. I hold real estate agents personally responsible because they are also catering to the illegal alien crowd here in Texas, frequently overcharging them for homes (I know this for a FACT). Now, I'm not feeling sorry for the illegals, but I am incensed that a very small FEW are getting filthy rich while at the same time making the costs for ALL of us go sky high.

[Pox]

DECLINE IN LATINO HOME BUYING

This has seemed to be the reason behind President Bush's stubborn refusal to have our current laws on immigration enforced. The government sees housing as the primary driving force behind our economy and without all those illegals our economy would head into a tailspin.

I disagree with that reasoning, and I'm probably wrong, but it's the only thing I can think of that would suit his line of thinking.

[MeneMeneTekelUpharsin]

FYI...you can pass it on to others.

[MeneMeneTekelUpharsin]

This has seemed to be the reason behind President Bush's stubborn refusal to have our current laws on immigration enforced.

I entirely agree with you. However, we are all being bankrupted by the OTHER things illegals are doing like ruining healthcare, running of the price of every essential item (including housing), etc., etc., ad nauseum. The few get rich and the rest of us get the shaft.

[CrawDaddyCA]

I wonder how they get away with this. I'm buying a house in Fl., and because I'm self employed ($100k + a year business) they want to know EVERY freaking thing, tax records for the past 5 years, projected earnings, etc. The only thing that has stopped me from telling them to go screw themselves is the thought of my wife crying because she wouldn't be getting her dream home.

[LurkLongley]

I don't think that that is it, although it wouldn't surprise me if that didn't enter into his decision making. I honestly think that he sees this as the "fair" thing to do.

That said, I wish that Illinois would enact similar legislation. If enough of the states would get tough about enforcing laws against illegals we wouldn't even have to worry too much about the federal gov't writing some huge new piece of stupid legislation with tons of unintended consequences.

[SteveMcKing]

", say real estate agents and lenders who cater to the Spanish-speaking community."

In America, one ought only cater to the English-speaking community.

Boycott any other company, and do not deal with any such business person who offers non-english services. Drive them right out of existence.

[Jameison]

"The government sees housing as the primary driving force behind our economy and without all those illegals our economy would head into a tailspin."

Not a chance.
The housing market is overheated, and houses are overpriced.
Time for some cooling down, so young couples can afford to buy homes for themselves.

If the net effect of deporting out illegal Mexicans is that house prices come down, then its yet another reason to drive 'em out even quicker.

[patriciaruth]

What is the new law in Georgia? That doesn't seem to be explained in the article.

[singfreedom]

I hope, when they get the border closed, these vultures find themselves in the poor house! They and the employers who flagrantly hire illegal aliens certainly deserve to be there.

[singfreedom]

My husband is self-employed as well. He's a contract worker for oil companies. When we purchased our little house nearly 20 years ago, we had to produce our tax records for several years, as well as voluminous other documents. It was bad enough, that my husband swore he'd never go through it again.

I don't know how these people do it either, they must surely get breaks we don't!

[AmericanVictory]

I wonder how many Senators have suddenly found that someone was using a a credit card in their name and then investigated the matter and found out that it was an illegal alian. You bet that they don't just use the SSN that they steal from you for Social Security. We have had this happen recently and it would be salutary if it would happen to the members of the Senate.

[Charles Martel]

The government sees housing as the primary driving force behind our economy and without all those illegals our economy would head into a tailspin.

I disagree with that reasoning, and I'm probably wrong...

You're not wrong. Strong housing numbers are supposed to be an *indicator* of a healthy economy, not the reason for it.

[Sender]

It means it will be hard to work here anymore as an illegal or to get free benefits. GA Law

[Herakles]

"I'm buying a house in Fl., and because I'm self employed ($100k + a year business) they want to know EVERY freaking thing, tax records for the past 5 years, projected earnings, etc."

It's call "selective rule of law", for example, when the government lets illegals get away with being illegal (i.e., not legal, for those politicians reading this), but legal citizens feel the full force of the law. The only problem is that when the "rule of law" is selectively applied it negates it's existence. Without uniform application of the rule of law, the is no country.

You know, I just realized; the Democrats and republicans are keeping the citizens in line like we were cattle so our taxes can be used to get the cheap labor and votes their friends want. I only hope this blows up in their faces!

[CrawDaddyCA]

I only hope this blows up in their faces!

You and me both!

[bronxboy]

When Gov. Perdue was first elected I had my doubts...but he was not Roy Barnes. He has turned out to be a superb governor. I am proud to say I voted for him.

[DCPatriot]

This is happening in Montgomery County Maryland too but immigration enforcement isn't a reason.

It's the prices of real estate, and the backing out of B,C credit mortgage lenders...together with the fixed rate not going lower than 6.5% since last August.

[Liz]

The following briefly explains why illegals creep across the desert and perpetuate the lie about taking so-called "low-pay jobs Americans won't do."

The US taxpayer is subsidizing aliens' every need 24/7, morn til night: Using multiple phony SS #'s, forged documents, and multiple IDs the invaders collect multiple $4500-$5400 EICs from the IRS by declaring several names/jobs - just by going $1 over the income limit. They also line up for EINs, ITINs, Child Tax Credit, Additional Child Tax Credit, welfare and food stamps.

US Taxpayers are subsidizing invaders' daily food intake, housing, reduced mortgages, free medical care, free education, reduced in-state tuition and out of state tuition. We also foot the legal bills when they start suing if we don't provide these goodies pronto......etc., etc, ad infinitum, ad nauseaum.

The 423 pp monstrosity Senate bill (secretly written in El Presidente Vicente Fox's hacienda assisted by reconquista groups) provides that invaders will be paid a prevailing wage, Earned Income Tax credits, medical benefits; housing benefits; WIC; anchor baby citizenship; legal representation and amnesty from back taxes owed.

The Senate atrocity does not meet Constitutional muster b/c Vicente, and the reconquistas, could care less about the US Constitution. They want only to get their greedy hands on the US treasury and to take over the US government with the vote, or by violence, if necessary (their own words and signage at the recent protests).

All of this explains why aliens will do anything, pay anything, endure anything, to sneak over the border to get so-called "low-paying jobs" They have extortion dancing in their criminal heads......plans to rip-off US taxpayers every which way they can.

.....and billions of our tax dollars go back to Mexico where El Presidente Vicente gets a nice chunk of it---and so do the federales in Central and South American banana republics who help their compadres cross the border.

[machman]

DECLINE IN LATINO HOME BUYING

Very misleading title. I doubt the "decline" in LEGAL Latino home buying is any greater than the general population. What is really declining is ILLEGAL Latinos buying homes. Just as it should be. The spin is to make it look like there is some sort of racist motive, but its not.