Embracing Illegals
Companies are getting hooked on the buying power of 11 million undocumented immigrants
http://www.businessweek.com/magazine/content/05_29/b3943001_mz001.htm
The result is a hot new market in the making. With hundreds of thousands of illegal alien households earning enough to qualify for $95,000 mortgages, according to the National Association of Hispanic Real Estate Professionals, ITIN and conventional mortgages taken out by illegals could be worth as much as $60 billion over the next five years. That's pushing big banks such as JPMorgan Chase & Co. (JPM ) to examine the market and upping pressure on mortgage buyers Fannie Mae (FNM ) and Freddie Mac (FRE ) to create a secondary market for ITIN loans.
[Note: This was 2005 data.]
This is what the LSM and government will not address to the public.
A retail / service sector (all consumption) economy is so strong.....my rear.