Jonathan Adams

Racist Conservatives Wrong About Immigrants and Mortgage Crisis

According to various real estate sources, the Los Angeles Times reports, undocumented immigrants are much more responsible homeowners than legal citizens. This may come as a surprise to conservatives Michelle Malkin and Mark Krikorian, who are convinced people of color are to blame for this. Malkin writes:

You’ve heard a lot about Fannie/Freddie and the minority lending shakedowns, but you haven’t heard most commentators/analysts on either the left or the right talk about the massive illegal alien mortgage racket — a topic I’ve reported on for the past five years. That’s because fault lies at the feet of the crime-enabling banking industry and the ethnic lobbyists and the illegal alien-enabling Bush administration.

UCLA law professor Professor Stephen Bainbridge, a staunch conservative himself, says he’s embarrassed at the poorly researched connection that the two make between immigrants and people of color and the mortgage crisis.

To the contrary, “immigrants in California and across the nation generally have had fewer delinquencies than similar loans held by U.S. citizens, in part because of stricter lending requirements, according to banks, insurers and Realtors.” [Los Angeles Times.]

Posted at 8:52 AM, Oct 06, 2008 in Immigration | Permalink | View Comments