Illegal Immigration and the Mortgage Meltdown

Discussion in 'Immigration/Illegal Immigration' started by Vel, Mar 6, 2009.

  1. Vel
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    Vel Gold Member

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    Is it just a coincidence that the areas that have huge illegal populations are also the counties that contribute so heavily to the forclosure numbers? Make sure to check out the map in the article.


    Most foreclosures pack into a few counties
    By Brad Heath, USA TODAY


    A few of the 35 counties leading the foreclosure boom are in already-distressed areas around Detroit and Cleveland. But most are clustered in places such as Southern California, Las Vegas, Phoenix, South Florida and Washington, where home values shot up dramatically in the first half of the decade, then began to crumble.




    Most foreclosures pack into a few counties - USATODAY.com
     
  2. Agent of Chaos
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    Agent of Chaos Rookie

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    Most foreclosures pack into a few counties - USATODAY.com
    The worst-hit counties are home to about 20% of U.S. households, but accounted for just over 50% of the nation's foreclosure actions last year, driving most of the national increase. And even among those places, a few stand out: Eight counties in Arizona, California, Florida and Nevada were the source of about a quarter of the nation's foreclosures last year.

    Now cross reference that map with these maps.
    immigrationroad.com/resource/illegal-immigrants-by-state.php

    images.businessweek.com/ss/05/07/immigration_map/index_01.htm
     
  3. editec
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    editec Mr. Forgot-it-All

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    No it's not. The immigrants gravitated to those places where they could find work.

    As did the builders to build homes, and the mortgage originating banks which sold people mortgages.

    Now if you could quantify the NINA loans and show us that the illegal aliens were the holders of those toxic debts, that might make that point for you that I believe you are attempting to make.

    Can you?
     
  4. Truthmatters
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    Truthmatters BANNED

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    Heres the deal, Housing starts will tell you the story.

    The places where the housing industry was booming is where the subprime was worst. Investment buyers would drive up the costs of housing in "hot" areas where they could not build fast enough to sell the houses. People would wait months for their houses to be finished because they bought them well before the projects were done because they demand was so strong.

    Guess who they would hire to do the bulk of the work because they would work for so little money?

    Now why did the Bush government never police the industry to make sure they were not hiring illegals?
     
  5. Valerie
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    Valerie Gold Member

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    Don't forget it only takes less than half as many jumbo loan defaults to equal the same amount of bad debt. All sorts of people reached beyond their means, not just the poor.


     
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  6. Valerie
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    Valerie Gold Member

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    From the same article:

    Banks and Investors Face 'Jumbo' Threat - WSJ.com
     
  7. editec
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    editec Mr. Forgot-it-All

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    Yeah, as much as I understand that a lot of us would dearly love to pin this mess on illegal immigants, to date nobody has shown us any evidence that their assertions have any validity.
     
  8. Valerie
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    Valerie Gold Member

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    Yes, it's sad the way things get twisted around and the perception becomes the reality.

    As much as I agree illegal immigrants are a problem and anyone who squatted on their mortgage has contributed to our financial troubles, SOMEONE gave them that money for those bad loans they couldn't afford. No down payment, no problem. No income, no problem. No citizenship, no problem. The predatory lenders simply DID NOT CARE. They took their piece of the pie and looked the other way. So now it's the poor people, who still have next to nothing, who stole all the money? I don't think so. :eusa_whistle:
     
  9. Terral
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    Terral Terral Corp CEO

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    Hi Editec:

    Editec is missing the point of the Opening Post, or he is deliberately acting stupid . . .

    We are talking about high concentrations of “Illegal Alien Foreign Nationals” sneaking in through the ‘back door’ in the middle of the night to steal identities and JOBS from law-abiding U.S. Citizens. These Illegal Aliens gravitate to the locations where they ‘can’ secure safe harbor among their relatives in highly-concentrated Hispanic neighborhoods. These people do not ‘find’ work, but they are invited to join the party by other Illegal Alien Foreign Nationals already here illegally and already ‘displacing’ U.S. workers. The contractor tells Paco to bring Juan and Carlos (Illegal Aliens) to fill the jobs vacated by Bob and Joe (Americans), so the contractor can get rid of his expensive Americans and get two Illegal Aliens for less than half the price.

    More nonsense! The Illegal Alien Foreign Nationals are living 10 and 20 in one house! The people going into foreclosure are Bob and Joe and every ‘legal’ U.S. worker being ‘displaced’ out of the local job market by all the GD Illegal Alien Foreign Nationals running around loose EVERYWHERE. The largest ‘Hispanic’ population areas are in the Southwestern USA ‘and’ the Southeast where I can tell you for A FACT that we have FAR too many Illegal Alien Foreign Nationals running around EVERYWHERE; which is exactly what the USA Today picture shows in the Opening Post link. Another map showing the foreclosures looks something like this (pic):

    Click on the pic to realize that the USA Today schematic is very incomplete and that Ohio, Tennessee and North Carolina are also showing a steady escalation of foreclosures. The difference is that the Ohio, Michigan and Indiana problem has more to do with NAFTA and the exporting our the USA manufacturing base, while the rest of the map can show us where high concentrations of Illegal Alien Foreign Nationals are displacing law-abiding U.S. workers from JOBS; along with too much Outsourcing.

    If you look over to the Southwestern side of the equation, then you see that the monstrous problem is expanding to Nevada, Arizona and parts north of California, as the Illegal Alien Foreign Nationals are steadily but surely expanding the Illegal Alien Invasion to include more and more western states.

    Are you done looking at the 2007 foreclosure rates map? Great! Now open up the 2008 map here and note the difference. Now imagine what 2009 is going to look like if Senor Obama and our idiot Congress refuse to 'enforce' the provisions of the "Immigration Reform and Control Act of 1986" (Wiki) and perfectly good Immigration/Employment Laws already on the books . . .

    This massive problem facing our once-great nation is about to become the very reason that We The People engage in the coming New Revolutionary War now on the horizon. I want no Illegal Alien Foreign National heads on sticks (not their fault nobody is 'enforcing' the Law around here), but every member of Congress and the Obama Administration will be the first in line . . .

    GL,

    Terral
     
    Last edited: Mar 7, 2009
  10. William Joyce
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    William Joyce Chemotherapy for PC

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    Yep.

    VDARE.com: 03/01/09 - Minority Mortgage Meltdown (contd.) Pay No Attention To That Diversity Mandate Behind The Curtain

    Just no question that minority/illegal loans caused the mortgage meltdown. No question at all. It was Bush's pet. Even the NYT had to admit this:
     

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