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Strategies & Market Trends : The Residential Real Estate Crash Index -- Ignore unavailable to you. Want to Upgrade?

To: paret who wrote (36912)	8/4/2005 11:43:18 PM
From: Doughboy	Read Replies (2) \| Respond to of 306849

Why all this hysteria over undocumented aliens getting mortgages? A mortgage is a product like any other financial services product. They're not subsidized by you and me; the banks, brokers and Fannie and Freddie all make healthy profits off them. They wouldn't sell them otherwise. We let illegals buy groceries, eat at restaurants, and, yes, buy houses. So what's the problem? We heard the same sort of thing when the Japanese were buying up Manhattan real estate in the eighties and even, gasp, Pebble Beach. As I recall, that turned out rather badly for the Japanese as they took a bath on those investments. The level of xenophobia on this thread is sickening. Doughboy.