Immigrants hit hard by US slowdown, subprime crisis

As an economic slowdown and the subprime mortgage crisis deepen across the United States, Hispanic immigrants are increasingly in danger of losing their jobs and their homes.
Both legal and illegal immigrants joined Americans in buying homes they could barely afford when the market spiraled upward and many have been caught with mortgages higher than the value of their homes as prices have slumped in the past year.

Just as subprime mortgage payments rose and house prices fell, the economy’s slowdown has hurt the construction sector, which employs large numbers of Hispanics and other immigrants.”*

*From: http://www.guardian.co.uk
Traducido: usando Google o Altavista/Babel Fish

Stumble it! | |

Other posts that may interest you

Hispanics American dream hit by mortgage crisis

Mexican Economy Will Weather U.S. Housing Slump, Carstens Says

Mortgage Crisis Hurts Black, Latino Economic Progress

Dozens of homeowners get advice on avoiding foreclosure at Watsonville seminar

The U.S. subprime crisis is having a minimal impact on Latin America's fast-growing real estate sector. Brazil, Mexico and Chile lead the way.

Mortgage crisis has hit Latinos especially hard

National Council of La Raza President and CEO Janet Murguía to Testify Before Congress on Latinos and the Subprime Lending Crisis

Hispanics on Both Sides of Subprime Lending

Home Loans to Illegal Immigrants Sturdy But Show Some Cracks

Mortgage defaults force out immigrant families