The housing crash can be saved with one action

Quote from chsbla:

Well not saved, but a bottom can be established a lot sooner.

What we forget about are the 11+Million illegal immigrants that are currently living in this country. Most only have checking accounts/prepaid debit cards. That is if they are lucky enough to fake a SSN and have it slide by the teller.

I am not for amnesty, I am from Colorado and have seen first hand the damage that Illegals do to the state, increased insurance, higher health care, higher taxes to pay for social services as well as education.

However from a monetary perspective, if we were to provide legal status to those 11+million workers, they would qualify for bank accounts, loans, real paychecks. Every illegal wants this, they want to be able to purchase a home that they can live in with their family, that they can raise their children in. Hispanics are well known for their family values and would start to purchase real estate if they were given the opportunity. THey will start by purchasing the sub 150k homes, thus establishing a bottom to the housing crisis. The demand for houses on the low end will start to push prices of houses up. Hispanics also have a large sense of pride/honor and will try to make their payments on time in order to establish good credit and provide for their future generations.
i'm not for amnesty but it looks damn good as a way to stop the bleeding from the housing crunch....thoughts?
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Where do you think the illegals live now? In tents? They already own homes here and between ownership and rent the illegals occupy several million housing units.

John
 
Quote from jficquette:

Where do you think the illegals live now? In tents? They already own homes here and between ownership and rent the illegals occupy several million housing units.

John
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They mostly rent, especially the ones who do the migration between Cali and Colorado - Arizona. Giving them the ability to purchase as opposed to renting will help. Plus most are paying premiums when renting due to the landlord knowing they can rape them on the price since they are illegal and once call to INS will fuck them over.
 
I am not happy with the RE market slump. The bulk of our assets are in RE in CA. Not so rich anymore, are we.

But you are forgetting about quality of life. I live in an area (OC) where immigrants, both legal and illegal, have come to dominate (majority). Here we have seen changes in only the past decade that are rather depressing.

It's not about prejudice - these people come from different countries with different morals and standards.

The driving conditions are becoming impossible unless you are willing forgo safety. Parks and neighborhoods are becoming less safe and a lot dirtier. The noise levels in once quiet neighborhoods are rising as rap music, barking dogs and loud racing cars proliferate.

Many Americans also contribute to this mess, but the majority are immigrants.

I'd rather worry about falling RE prices than have to constantly worry about personal safety.
 
the south and central americans that come here work very hard,at least on the east coast. however,hispanics in general have a HUGE problem with birth control. until that is fixed,they are not going to be buying houses,end of story. the mexicans do work hard and i have a soft spot for them. not to be racist but high birth rate out of wedlock in the black community is astonishing,not to mention totally irresponsible but until they fix that problem they will not be buying houses either. you can dump billions in the education system but if they continue to think its ok for an 18 year old girl to have 3 babies with three different men,extra money in their neighborhoods mean nothing.
 
How could illegal inmigrants pay the 1 trillion subprime mortgages?

Guess they'll have to clean a LOT of toilets.

They just don't have enough income.
 
so, why not let out all the Drug Offenders in Prison. Hell legalize drugs and pay taxes!

Why not let all those in jail ,thanks to the IRS out.
Opps, they did not pay their taxes.

Why not forgive white collar crime?

Why not stop giving out speeding tickets?

I mean, hell, if Illegal means Legal, why should we have ILLEGAL in our vocab?

Fucking stupid statement to say, make the Illegals, Legal because they will pay taxes.

Fuck, make Front Running legal, I will pay taxes on my gains, insider trading should be legal, I will pay taxes on those gains as well.

I mean all those Illegal Acts above do not harm anyone.
 
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