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.

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