Most Popular Choices
Share on Facebook 14 Printer Friendly Page More Sharing
OpEdNews Op Eds    H3'ed 6/28/09


By       (Page 1 of 2 pages)   7 comments

No one talks about it, no one appears to have connected the dots...but now in retrospect it is clear that the single biggest event that caused the real estate debacle was the nationwide increase in immigration raids by ICE (Immigration and Customs Enforcement) Agents from the DHS (Department of Homeland Security).


The raids were dispersed, but very effective. A small town in Iowa turned into a ghost town with a raid at a poultry plant resulting in mass deportations. Suddenly the town had 70 vacancies and a host of foreclosures. Police in Woodbridge Virginia, were suddenly empowered by a right wing, anti-immigrant mayor to arrest illegal immigrants, and suddenly all the immigrants moved out of town. This 'police action' left literally thousands of properties vacant in Woodbridge, and one of the nation's largest foreclosure rates. The reports go on, and on. A town in California completely decimated. Sussex County in Southern Delaware sucked out of over 10,000 Hispanic (tenants) because of ICE raids. A raid here, a raid there...nothing huge to be reported nationally, but in the end we find a national trend established in early 2008 and sustained all the way to the General Election in November - which caused the near collapse of our economy and our way of life.


I ran a quick analysis in Google News trends, looking at the correlation between Immigration Raids and Housing Foreclosures. After several years of relative peace, in May 2008, the raids begin in earnest and are captured as News Items. And there are upticks on raids going forward right up to November 2008. There is a clear connection.


Not coincidentally, there is a serious uptick in the national foreclosure rate within months right after the raids start happening. An already soft real estate market is suddenly decimated and thrown over a cliff, with months after the raids started. 


Once again the Bush administration undertook a task without thinking about the long-term consequences of their actions...and the real costs for our economy.


For sure, there had been a serious increase in the number of illegal immigrants these past 8 years. Immigrants, among other needs, required housing. And feeding on the real estate boom...the construction industry was employing a large number of these additional illegal immigrants working in non-agricultural jobs.


We were led to believe that serious immigration reform was imminent. And in fact, many immigrants were staying in the U.S. longer believing that reform would allow them to legalize their status. It was the buzz of Washington cocktail parties.


Then suddenly, out of nowhere, there were increased workplace raids which resulted in mass deportations. Mass deportations led to mass vacancies. Mass vacancies led to a slow down in construction activity, and a rise in foreclosures, further leading to a collapse of our banking system, causing a deep recession, further unemployment, etc.


Next Page  1  |  2

(Note: You can view every article as one long page if you sign up as an Advocate Member, or higher).

Must Read 3   News 1   Funny 1  
Rate It | View Ratings

Jalil Bahar Social Media Pages: Facebook page url on login Profile not filled in       Twitter page url on login Profile not filled in       Linkedin page url on login Profile not filled in       Instagram page url on login Profile not filled in

Former Iranian Diplomat, now retired real estate investor in Delaware
Go To Commenting
The views expressed herein are the sole responsibility of the author and do not necessarily reflect those of this website or its editors.
Writers Guidelines

Contact AuthorContact Author Contact EditorContact Editor Author PageView Authors' Articles
Support OpEdNews

OpEdNews depends upon can't survive without your help.

If you value this article and the work of OpEdNews, please either Donate or Purchase a premium membership.

If you've enjoyed this, sign up for our daily or weekly newsletter to get lots of great progressive content.
Daily Weekly     OpEd News Newsletter
   (Opens new browser window)

Most Popular Articles by this Author:     (View All Most Popular Articles by this Author)


U.S. + Iran Against Israel... and Why 500 Yazidi's Died

Iranians Need Azerbaijan's Liberation

They Hate US

Grand Caspian Theft

Jimmy Carter – the Grand Impostor

To View Comments or Join the Conversation:

Tell A Friend