Right, when was the last time a minimum wage immigrant bought a house?
BTW I can tell you when! 1958. That was my father. No credit history either. Just the fact he had a job.
The Southern California desert in the late 1950s offered a unique environment for homebuyers, including immigrants like your father.
This region was experiencing growth, especially with the post-WWII housing boom, which allowed for more affordable housing options.
Economic Context
Affordability: Many areas in the desert had lower property prices compared to urban cities, making it feasible for minimum wage earners to buy homes.
Lending Practices: Banks and lending institutions were generally more lenient, allowing people with steady employment, like your father, to qualify for mortgages without extensive credit histories.
Changes Over Time
Since then, various factors have made homeownership more challenging for many, including immigrants:
Rising Prices: Property rates in Southern California have escalated significantly, making it hard for those on minimum wage to afford homes.
Credit Policies: Stricter lending practices have arisen, requiring more substantial credit histories or higher down payments.
This contrast highlights how the economic landscape has shifted dramatically over the decades.
