[The housing bubble was fueled by the feds not enforcing immigration law]
That seems to be a popular perception. Do you have any evidence to back it up?
While I certainly agree that illegal immigration is a problem; I'm not sure illegal aliens, as convenient a scapegoat as they may be, are responsible for creating the subprime situation.
Folks who have just escaped hell and entered a relative paradise are likely to do everything in their power to prevent their homes from being foreclosed - Including having multiple generations of income generating family members live in, and pay for, the same house.
The bubble was largely fueled by flipper investors, many of whom were committing fraud - and most of whom, I suspect, were U.S. citizens.
Additionally fueled is a more accurate statement. Many citizens traded up or rented existing homes and bought new. The 30 million plus illegals allowed to walk-in and / or overstay have to have a place to live. If 80% of the illegals had left, been captured, or not allowed to just walk in, there’s no way the housing market would have jumped like it did in the last 4 years. The old catch 22: illegals streaming in over the southern border to find construction jobs and at the same time causing a serious demand on the need for their housing too.