As I predicted over a year ago on LRC the increase in illegal immigration from Mexico was caused by the housing bubble and that when the bubble burst that some illegals would return home. It appears from recent statistics that this is already happening. The amount of money sent home by Mexican workers (remittances) peaked in spring of 2006 and has declined 17% by the winter quarter of this year. The size of the average remittance actually peaked between the bursting of the home building stock bubble in July 2005 and the initial recognition of the housing bubble by the … Continue reading Illegal Mexican Emigration