Saturday, July 30, 2005

Why housing prices and rents are out of sight.

The New York Times reported today a Long Island township extended "... a crackdown on single-family houses ...overcrowded with (illegal) immigrant workers..(by taking)... court action against the owners of three properties that inspectors say were occupied by about 90 men...The town says it is investigating 440 such houses..."

Illegal immigrants have to live somewhere. Why set the rent at reasonable levels average Americans can afford when crowding illegals into a property can bring many times the rent? The rate of return is so high it drives up housing prices to levels unaffordable for many Americans.

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