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Immigrants Can Help Fix the Housing Bubble
WSJ ^
| 03/17/09
| RICHARD S. LEFRAK and A. GARY SHILLING
Posted on 03/17/2009 7:58:03 AM PDT by TigerLikesRooster
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Dear corrupt Chinese officials, drug lords and Mafiya of the world;
If you buy spare housing at still-inflated price, you can now become proud Americans. We will be eager to relocate you and launder your identity. Please buy lots of Mcmansion.
Sincerely,
American Realtors' Association,
U.S. Department of Treasury,
U.S. Federal Reserve Board,
U.S. Senate and Congress,
White House,
The One and Only Zero.
To: TigerLikesRooster; PAR35; AndyJackson; Thane_Banquo; nicksaunt; MadLibDisease; happygrl; ...
2
posted on
03/17/2009 7:58:25 AM PDT
by
TigerLikesRooster
(from "Irrational Exuberance" to "Mark to Zero": from '96 to '09)
To: TigerLikesRooster
this is cute. 25% of the bad loans were to illegal aliens.
3
posted on
03/17/2009 7:59:26 AM PDT
by
ckilmer
(Phi)
To: TigerLikesRooster
Fantastic idea! After all the years of outsourcing the labor, now we can outsource the consumerism. Pretty soon, we won’t need actual Americans at all.
4
posted on
03/17/2009 7:59:47 AM PDT
by
Wolfie
To: TigerLikesRooster
The main reason I stopped subscribing to the Wall St Journal is their OBSESSION with cheap foreign labor.
5
posted on
03/17/2009 7:59:49 AM PDT
by
skeeter
To: skeeter
I started to read it with huge grains of salt when they started pumping the bubble market beginning in late 90’s.
6
posted on
03/17/2009 8:02:36 AM PDT
by
TigerLikesRooster
(from "Irrational Exuberance" to "Mark to Zero": from '96 to '09)
To: TigerLikesRooster
7
posted on
03/17/2009 8:02:59 AM PDT
by
BGHater
(Tyranny is always better organised than freedom)
To: TigerLikesRooster
Wasn't one of the contributing factors to the housing bubble bringing in every Mexican who could figure out which end of the hammer to hold to build as many houses as possible? Maybe we can get them to misreport their pay on their loan apps again: "Si, I made 100,000 pesos ... I mean dollars last year" so they can buy half million dollar 800 square foot houses in California.
8
posted on
03/17/2009 8:05:25 AM PDT
by
KarlInOhio
(Obama: removing the speed limit on the Road to Serfdom)
To: BGHater
I guess the writers have no shame.
Not to mention journalistic integrity.
9
posted on
03/17/2009 8:05:32 AM PDT
by
skeeter
To: BGHater
The guy must be ecstatic to gain such a respectability by publishing it at WSJ. LOL. This is a real life comedy.
10
posted on
03/17/2009 8:05:49 AM PDT
by
TigerLikesRooster
(from "Irrational Exuberance" to "Mark to Zero": from '96 to '09)
To: KarlInOhio
They were building and “buying”. If you call putting nothing down on an interest only variable rate loan “buying”.
11
posted on
03/17/2009 8:08:56 AM PDT
by
skeeter
To: skeeter
Brilliant. They buy a house and qualify for a green card, SS and medicare. That’s a great deal for the taxpayer. We already have enough people sponging off the system.
12
posted on
03/17/2009 8:14:00 AM PDT
by
Oldexpat
To: TigerLikesRooster
Sure, no problem, we have 10% unemployment and your answer is to bring in more people. Oh I can't see any problem with that plan. /sarc
13
posted on
03/17/2009 8:15:37 AM PDT
by
GonzoGOP
(There are millions of paranoid people in the world and they are all out to get me.)
To: Oldexpat
There are abandoned houses all over CA and no one in a position to address the problem is talking about it.
14
posted on
03/17/2009 8:15:56 AM PDT
by
skeeter
To: ckilmer
I will be willing to bet that your percentage of illegal’s failed loans is terribly low.
15
posted on
03/17/2009 8:16:32 AM PDT
by
DooDahhhh
(AMEN)
To: ckilmer
Barney Frank rubs self congress winks.
16
posted on
03/17/2009 8:19:23 AM PDT
by
Vaduz
To: TigerLikesRooster
For it to work, we’ll need to set the maximum number of residents artificially low, say 50 per 1500 square foot home (sarc)
To: Wolfie
hope Lou Dobbs gets to cover this nonsense
To: TigerLikesRooster
The Obama administration should seriously consider granting resident status to foreigners who buy surplus houses in this country. For cash. ;)
19
posted on
03/17/2009 8:24:34 AM PDT
by
Mr. Jeeves
("If you cannot pick it up and run with it, you don't really own it." -- Robert Heinlein)
To: ckilmer
Do you have numbers to back that up?
Illegals are huge in number, but I cannot see 25% of the mortgages going to them.
20
posted on
03/17/2009 8:28:32 AM PDT
by
Red in Blue PA
(If guns cause crime, then all of mine are defective.)
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