Immigration and the Mortgage Meltdown
Reader Comments
Bill
*** "The state I live in California, for example, is utterly bankrupt and every knowledgable observer of politics knows it is because of massive unrelenting illegal immigration." ***
The state is at least $15 billion in the whole - again. It is THE biggest contributor to the mortgage crisis, not just in absolute terms, but in relative terms, too. Those of us who live in other parts of the West see native-born citizens who've fled Californians ALL the time. The first words of all of their lips, when asked why they left, is inevitably "it's so expensive there."
27% of Californians are immigrants. This is a number that does not include their children - just the first generation.
But the mortgage meltdown, the obscenely high costs of living, the ever constant financial ax hanging over the state, the fleeing of native-born from their own state - none of them are the least bit connected to mass immigration. There's nothing to see here, these aren't the droids you're looking for, move along.
I have a friend who used to live in the LA area. He left 2 years ago. He wanted to stay. He's a smart, polyglot guy with an MBA from a high-ranking school. He left. Why? Because he couldn't afford a home in the area. An MBA couldn't afford a home in LA without going over his head in debt. Repsonsible behavior doesn't work in this country anymore. You have to do stupid stuff and then wait for the government to bail you out while the irresponsible get kicked to the side of the road.
And what was immigration all supposed to be about? "Growing the economy." Well, the folks obsessed about "growing the economy" never bothered to ask whether the growth would benefit the average man or not. Looking at how the working class fared never factored in. It was just assumed they would keep paying their bills, even as they fell further and further behind thanks to soaring home prices and stiff competition by illegal immigrant labor. Instead of looking at GDP growth, perhaps fro long term prosperity you should look at savings rates and debt ratios. And both have been getting dramatically worse in high immigration countries.
Sorry, open borders wackos (Michael Barone included) - simply moving massive numbers of people from one country to another is no panacea for economic ills, especially if those immigrants are illiterate and especially if your politicians step all over each other to give them taxpayer funded benefits.
Illegal immigrations effects
I've always enjoyed Mr. Barones articles. He is one of the most knowledgable and erudite commentators on the political scene. But in all honesty, he has been less than helpfull on the illegal immigration invasion of millions of foreign nationals and the effect it has on Americans in so many ways. The state I live in California, for example, is utterly bankrupt and every knowledgable observer of politics knows it is because of massive unrelenting illegal immigration.
dharc
From border to border the illegal alien holocaust is becoming evident. They have slithered in on a sea of semen, babies dropping from millions of brown uterouses.Strip mining the citizens of the U.S. 5 million defaulted mortages loans belonged to illegal aliens.Orange county will spend 435 million dollars this year on welfare,foodstamps,HUD housing etc.Not including education.Murder,mayhem and finacial and cultural meltdown.Build the double fence that was made into law. The Democrats lied and called off the ivote about illegals.These lying bastards liberals need to be imprisoned for what they have done to us.Why are Democrats so stupid?So suicidal?They can cut their own throats,leave mine alone.
Right on cue:
Give facts like Mr. Barone has and you're called Xenophobic. Absolutely pathetic, SPC, LULAC, Mecha trolls come out when the lights go on.
affirmative action financing
ok
all you Mexican-'immigrant' apologists, i don't know what you were reading but not once did he single out Mexicans in his piece. why don't you read the piece carefully this time and you will see he does nothing but equate lower Mexican and Latin American birth rates to lower immigration rates to the USA.
and he's right, all that subprime lending was nothing more than giving loans to people who should have never been approved in the 1st place. This was another form of public welfare that all of us have to pay for now. 10 years ago, none of these loans would have been approved because folks, these applicants had bad credit and were no/low income risks...nothing to do with skin color!
you're a bunch of over-sensitive hypocrites and you want to immediately attack anyone that doesn't agree with your communist/socialist agends
God I so hope that Obama doesn't win!
We will turn into a third-world nation run by special interest, and minority and immigrant rights groups!
We shall truly become, a banana republic.
God Help US!
Loans to illegal aliens
Three years ago Congressman Ed Royce (R-Ca) fought and lost the fight to stop U.S. banks from lending to borrowers who had no proof they were in this country legally. The Bush administration insisted that the worthless Matricular Consular Card ...aka .Mexican I.D.Card would suffice for federal banks to use as identification in order to open checking accounts, issue credit cards and make home mortgage loans. Now the Housing and Urban Development agency (HUD) says there are 5 million mortgages held by illegal aliens with U.S. banks. In the words of President George W. Bush .... "This sucker is going down".
Go Sarah Go!
Sarah Palin is a breath of fresh air and I for one support her strongly. Do I agree with every view she has? Of course not, but I don't agree 100% with anyone, certainly no politician.
How have I done for the last eight years?
Just fine. How about you? My personal successes or failures aren't the result of who is occupying the White House. Never has, never will be.
ILLEGAL IMMIGRATION A MAJOR FACTOR
PLEASE PAY ATTENTION!
ILLEGAL IMMIGRATION AND ILLEGAL ALIENS ARE ONE OF THE MAJOR REASONS OUR ECONOMY SUCKS!
yes, illegal aliens are one of the major problems facing our nation! yes blame illegal aliens-sorry but the truth hurts!
fight back against illegal immigration NOW!
I am begging you to register at www.numbersusa.com to fight back!
Illegal aliens
Dear Mr. Barrone:
Come on now---the other day HUD announced that 5 million morgages are in the habds of illegals. Can't YOU draw any inferences from that?
During the last great wave of immigration from 1890-1920, roughly 19 million immigrants arrived into the US. In the last 30 years, over 40 million legal and illegal immigrants have arrived making it the largest immigration wave in world history. US citizens have sought and earned a more moderate immigration policy. Those who demand permanent mass immigration are the same people who just drove your country's economy into a ditch.
In the 1990's, the bipartisan Jordan Commission recommended reducing legal immigration to 550,000 annually, rigorous enforcment of employer sanction, and deporting those here illegally. Had these recommendations been implemented, much of the current mortgage crisis could have been avoided.
The Jordan Comssission should be the basis of any immigration reform, not the La Raza wriiten Kennedy/MCain bill.
