Thread: Did Illegal Immigration Cause the Recession?

Did Illegal Immigration Cause the Recession?
April 15, 2008

Just some thoughts - no well researched piece here!

Which 2 industries were hurt worst by the sub-prime fiasco? Financial institutions and the home builders. It just so happens that these were the 2 industries that also caused it.

Could it be that cheap labor (illegal immigrants) helped the home builders make huge profits which they then plowed back into more and more new homes and condos?

But who was going to buy all these new homes?

Well, maybe the financial institutions will be greedy enough to allow anyone to get a mortgage. Prices keep going up so where’s the risk? With “no docâ€

Zeezil, this has been on the minds of many people too. I would like to see a very reputable study done on what has actually affected us currently. I would not be surprised, at all, to see that the top contributor to be the cost of illegal immigration (in more than just one way).

Wow zeezil, great post! I got choked up about the part of my life has meaning. I hope all this information is spreading like a disease and more and more people start yelling that they are "MAD AS HELL AND ARENT GONNA TAKE IT ANYMORE!!!"

Construction seems to alway be in a boom or bust cycle. But in the last ten years it has become a greatly exaggerated cycle. I heard all about illegals buildding houses in California fifteen years ago.

Yes this boom in housing---stimulated by keeping the mortgage rates really low--has provided plenty of home construction jobs, but mainly for illegals. Just watching the business news reports about homebuilders one could see what was happening. Construction jobs are a valuable craft to learn even if you are only in it for a few years. My neighbor is an attorney--but he also knows how to build and has been doing a fantastic job on his turn-of-the-centtury home restoration.

I'm sure that the IT revolution has needed a lot of nerdy high IQ talent that we used to despise. And it has gotten the US through another two decades of sustainable exports. But young people today should also learn some hands-on skills--- and home building and construction crafts are excellent.

I think they have contributed.

Not to mention to the unemployment rate. Watch that go on the rise next.

Banks, credit cards, mortage... The greedy lenders lent money to unstable and transent barrowers and the rest of us are going to pay.

Dixie

We started paying with the Buy out of the 6th largest Bank and we will keep paying thanks to the socialist in DC that think we should pay for the bad decisions of others.

The ones I feel so sorry for are the people who lost their jobs because businesses have been replacing them to hire the cheap labor...then they can not find another jobs for half the wages they had before, therefore they can no longer afford to keep up their house payments, car payment, etc. they have lost the American Dream...of course these are the true victums who will get no help.....Yes Illegal Immigration was a huge part of the whole mess and will continue to be unless we stop it.

Say, this reminds me of the pilot program where BofA was going to give credit cards to illegals in the LA area. Wonder how that's going?
Greed greed greed, the heck with what's best for this country.

So close the damned border and let’s figure out exactly what the employment situation is in America. With the employment rate rising, cheap, illegal labor must be stopped.

This is my mantra these days. GREAT post Zeezil! I am scared for our country....real scared!

Remember the "crying Indian" from the 70's?? that is where I am at with the usa right now!

Blame the CFR.