Thread: Immigrant homebuyers up in mid-sized towns

Immigrant homebuyers up in mid-sized towns

March 15th, 2010, 11:49 am
by Jeff Collins

A growing number of immigrants are buying homes in mid-sized U.S. cities, a study released today by the USC Lusk Center for Real Estate shows.

With immigrants and their children expected to account for 82% of population increases over the next 40 years, immigrant homebuyers could help stabilize housing prices, one study author said.

“Nurturing links within the immigrant community is key to building a new rank of homeowners,â€

There were plenty of illegals that got their hands on liar loans, where banks asked no proof of income or even bothered to verify that they were in the country legally.

Quite a few of these "immigrants" buy their first home and rent to illegal aliens by-the-room or by-the-bed thereby earning much, much higher "rent". The profits from the first house are used to buy the 2nd - 10th properties, all making huge amounts of cash.

Any enforcement measures by the towns are greeted with whines of "racism" and threats of lawsuits.

I personally know of a legal (I believe) immigrant who purchased 10 properties this way and the town will do NOTHING to enforce overcrowding ordinances because of his "race".

Check out how many rental properties Bobby Menendez owns in NJ. Local politicians do the same thing.

No wonder they are so passionate about amnesty, much profit to be had.