“This is no longer the west coast Ellis Island”
Posted Monday, April 2nd, 2007 at 7:31 pm
Thus says The Economist about Boyle Heights in this article - “Escape from LA: Los Angeles is losing its illegal immigrants. That’s bad news.” The article goes on to talk about the negative impact of the declining number of immigrants coming to Los Angeles. Read it.
April 2nd, 2007 at 9:45 pm
Hard to imagine a more economically positive influx into LA than illegal immigrants.
Especially for SoCal homeowners enjoying the equity funny money.
We sold our inner city home in Pasadena for $300,000 three years ago. That same home is worth $700,000 today. Oh well :^)
Economies grow rapidly for a number of reasons. Cheap and exploited labor is certainly one of them.
April 3rd, 2007 at 6:50 am
mmm!
Interesting…. I wonder when the city will feel the effects of losing the blood in its veins… wonder what that will feel like.
April 3rd, 2007 at 2:37 pm
Its nice that the article is free, now I don’t have to send it to you. Tomm Pratt’s comment reminded me of a recent collum in the Seattle Times about current house prices creating a paradox for Christians who never imagined that they would be living in half-a-million dollar homes. He pointed out that some of the consequences of house prices being so far out of line with median incomes is that it becomes harder for homeowners to give both time (working too hard to afford the mortgage) and money (not as much left after the mortgage payment). On the other hand, there shouldn’t necessarily be anything wrong with Christian families owning what might, except for the price, be a modest house.