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Posted on 03/17/2008 10:05:52 AM PDT by NormsRevenge
Waiting for the crime wave to begin.
1) Hispanic buys home during the boom on a stated income program.
2) Hispanic rents bedrooms and/or basement to relative or associate worker...usually an illegal immigrant.
3) Illegal day laborer can NOT find work therefore cannot pay his room rent.
4) Hispanic falls behind on the mortgage.
....and here we are today!
Kids today will not cut their own lawns, deliver newspapers, wash dishes, plow sidewalks or other myriads of jobs we used to do.
To a large extent the parents are very much at fault, providing everything from $200.00 sneakers to all sorts of electronics, cell phones etc. without much expected in return.
Too effing bad.
And I personally am glad to see it. If a recession is the only way to stop this invasion and the pinheads that loaned these guys money lose everything I think it’s great!
“Mexico immigrant Roberto Panuco, who is a naturalized U.S. citizen, says, “We’re becoming desperate”
Roberto, what ya gonna do when the US can’t prop up your country any longer???
The fact that naturalized citizens can’t find work should tell Roberto and his open border friends that we have MORE than enough cheap imported labor! When he’s hanging out at the Home Depot he should tell his illegal Mexican counterparts to GO HOME!
I've been there, it's right off the freeway and across the street from an IN-N-OUT Burger place.
The illegals are all over the parking lot, but they're not Muslim Yoots. One of them can always speak English, and the appointed one will come to your car as you get out and ask if you need any lawn care or any day labor job.
They are reliable workers at a cheap price (infinitely better than Muslims infesting Europe), but they are illegally here, with their families, and I can't understand why they aren't deported because everybody knows where they are. It's either the males standing around on the strip-mall parking lots, or look for their wives and children in the nearest hospital ER (ER is the Mexican version of a doctor's office waiting room since they don't have insurance and they get free treatment), or the local welfare agencies to get all the U.S. citizens' benefits they can get.
They get paid cash by Americans, and they wire over a billion U.S. tax-free dollars back home to Mexico. It's so bad that the wire money transfers and snail mail sebt back home by the illegals is now the largest single source of income for Mexico, and they aren't taxed at all like U.S citizens.
You nailed it, DC. No one seems to want to admit it, though.
Hungry, homeless people can be desperate and dangerous. Especially if they think they are entitled to what YOU have.
You don’t understand!
There are a lot of FR posters who will ridicule you if you think that illegals had anything to do with the subprime foreclosures. They will trot out theories about derivatives and CDOs and funds liquidity yada yada yada.
But to hint that the foolish dumping of subprime mortgages on illegals by lenders and banks looking for a way to prop up their Ponzi schemes of bonds and CDOs is racist and ignorant and shows your lack of understanding on finance.
Be prepared to be flamed.
But that wasn't enough, they then had to lease a former K-Mart store just for additional space to print out the checks.
If DC is saying something negative about illegals you know it's bad. Either that or somebody killed him and is using his computer.
Somebody emailed me a video of a prnkster who went to Home Depot and picked up about 6-8 day laborers to build a deck. He put them in the back of his pickup and drove them straight to an ICE office where they jumped out and ran. It’s pretty racist, so I won’t post a link. It would have been just as funny without the guy’s racist mouth.
Amen to that.
Carolyn
Oh. I guess the post was meant to be sarcastic, eh? (I’m not familiar with the poster.) Sorry.
lol..
darn activists. ;-)
If two things are correlated, which is the cause, which the effect? Free market capitalists need to start looking at the facts.
The housing boom was fed by 3 factors:
- Capital gains on the sale of a house are not taxable if a more expensive house is built
- Low interest rates
- Supply and Demand
Immigrants provided the demand boom in the housing boom. This was a mix of legal and illegal. Often a legal husband and illegal wife, or illegal brother-in-law, or “cousin” which usually means someone trusted, would buy a house together on the combined income. Then the anti-immigrant controversy emerged out of nowhere (for decades Pat Buchanan was a voice in the wilderness ridiculed by all other conservatives.)
The anti-immigrant hysteria created uncertainty in among the potential immigrant home buyers. They have an extremely low rate of foreclosure and are proud of that. They did not want to buy a house if some of the people helping pay the mortgage would be deported or additional “cousins” from Mexico could not be brought in to help pay the mortgage.
Thus, the anti-immigrant hysteria is the major reason that the demand was taken out of the supply and demand equation.
The demand of immigrants for cheaper houses drove up the prices of thos houses. The sellers of those houses made a killing off the capital gains and invested in upper middle class houses that would have normally been considered beyond their means. Of course, this increased demand drove up the prices of upper middle class houses. The sellers of those houses used their capital gains to buy luxury houses at high prices due to the increased demand. It was classic price determined by supply and demand.
When the demand slumped, prices plunged.
Of course, there were other factors. But clearly, immigration hysteria is a major, and probably the major, factor in the housing crisis. This was pointed out by many capitalist economists and activists early in the immigration debate.
Anti-immigrant voices repeatedly said that they agreed with the analysis and that they would accept a lower standard of living and be willing to pay the price for restricting immigration.
(the word “illegal” is seldom used in the analysis above because a) it is irrelevant and b) most of the hysteria only rarely used the word “illegal”. For example, Hannity originally ridiculed Pat Buchanan’s position on immigration. Then gradually Hannity adopted it. Hannity would create hysteria about the issue 3 hours a day. He would use the word “illegal” to qualify his hysteria once or twice in 3 hours. But one had to listen the full 3 hours to catch it. For most of the 3 hours the word “illegal” was omitted.
Beware what you wish for.
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