I've been actively following local politics since I moved here. Illegal immigration is obviously a hot button issue and one that we could go on and on about for days....The media does it's best to carry water for La Raza and other race pimps which infuriates me to no end but I digress...
Michelle Malkin has an excellent piece up on how the illegal immigration issue has collided with the mortgage meltdown issue. I'm sure to most of us that is no surprise.
I'm doing everything I can as a resident of my community. I've campaigned, volunteered, written letters, made phone calls, donated, etc..we have managed to get some good results and to oust a mayor and council members who were pro-illegal immigrant. Things are on the right track but we have a long way to go. I cringe at the notion of McCain as President mostly because of his pandering to the immigration crowd. I'm holding out hope but it's a long shot. When are people going to wake up?
Go read the Malkin piece. Lots of good info there.
http://michellemalkin.com/2008/05/12/open-borders-and-the-mortgage-mess/Here's some info from one of the links she refers to:
http://frontpage.americandaughter.com/?p=1618Here is another way the Latino immigrants take the housing market down. One immigrant buys a single-family property, for which the payments are way beyond what is affordable. Then several other families move in with them and help to make the mortgage payments. (This is against zoning regulations, but these are not enforced by politically correct public officials pandering for the immigrant vote.) One family lives in the dining room, another in the living room, and each of the bedrooms becomes home to an entire family.
Once this happens to several homes on a street, the resulting mess and litter begin to depress property values. Maintenance is neglected and the immigrants’ homes become shabby. So the legitimate homeowners are the first to suffer, as their neighborhood begins to look like a third world country and housing values decline.
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Here is a third way the illegal immigrants take the market down. This also derives from the situation where several families live in one house. As communities begin to crack down on the illegal aliens who are freeloading on taxpayer-provided services and straining school budgets with ESL costs, some of the illegals leave. Now the immigrant homeowner of record cannot collect enough from the tenant pool in the house to make the mortgage payment, and the house goes into foreclosure.
As the pattern is repeated, soon the “third world country†streets become filled with houses at auction or in foreclosure, up to half the houses on the street. With so many for sale, the original homeowners could not get a fair price for their houses if they had to relocate.
All residential demographics have their share of unwise people who purchased beyond their means, and got caught in an economic downturn. But, taking Northern Virginia as an example, it is clear that the illegal alien population is the greatest factor. Two counties lead the effort to combat the alien invasion — Loudoun and Prince William. The statistics are compelling (see graphic at link).
The tenor of the discussion in the mainstream media is to blame the local communities that discourage illegal immigrants. And that is very mistaken. The illegals committed a crime by entering this country without documentation. Other Hispanics committed fraud by luring their fellow Latinos into mortgage arrangements that were destined to fail, and by misrepresenting credit credentials to the lending institutions. Immigrant homeowners of record violated the local zoning laws. Employers of these illegals were complicit by hiring them against federal law. The mortgage sellers were duplicitous in lending money on paper to clients who clearly did not qualify. The banks were unscrupulous, knowing that they could skim a profit and package and resell the paper before the scheme crashed. The Wall Street buyers of the paper defrauded their investors by making bad judgements in buying these mortgage packages from the banks.
Now, in the face of all this corruption, our federal government has reached its sticky-fingered hands into all of our pockets for the billions of dollars needed to keep these reprehensible outfits afloat
more at link
