Wednesday, August 31, 2011

More immigrants would help the ailing economy

This opinion piece has an interesting suggestion for finding buyers for lots of foreclosed homes. - - Donna Poisl

By LINDA CHAVEZ

As the president contemplates his options for creating jobs and stimulating the economy, here’s one idea he should consider: Create a new immigration lottery that would let in up to a million newcomers — on the condition that they immediately purchase a home with cash.

I know this idea is bound to infuriate some people, but it could do more to stimulate the economy than anything the Obama administration — or the Republicans — have come up with so far. There’s no question that the depressed housing market is a major factor stalling the economic recovery. Most Americans’ wealth is tied up in their homes; housing prices have continued to fall precipitously, and largely because of the huge inventory of unsold houses. Many of those houses are foreclosures.
Click on the headline above to read the rest of this story! This is only a small part of it.

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