Monday, April 15, 2024

Texas Real-Estate Developer Giving Home Loans to Illegals to Create Cartel City

'I don’t know how many live there now, but this is going to be big enough for 200,000 people. They’re actually building a city...'

(Jacob Bruns, Headline USA) A Texas land developer has decided to create a city of illegal immigrants by giving out easy home loans to new foreigners, the Daily Wire reported.

The sprawling settlement of Colony Ridge is located north of Houston, consuming over 60 square miles of land. Its population—most of whom are presumed to be illegal immigrants—is already estimated to be somewhere between 50,000 and 75,000.

The “town” is reportedly filled with stray dogs, dilapidated buildings, half-finished construction and full-time tent campers.

Colony Ridge is the brainchild of developer William “Trey” Harris, who is using what most would consider to be predatory lending practices that exploit the vulnerability and desperation of newly arrived illegals looking for a place to live.

While American citizens will be required to undergo traditional financing methods–including credit checks and proof of income—Colony Ridge buyers have been allowed to circumvent all normal procedures due to their “victim” status, according to Todd Bensman, a national security fellow at the Center for Immigration Studies.

“With a traditional bank loan you need to be able to show that you have a credit rating and proof of income,” Bensman said, noting that the buyers at Colony Ridge are only expected to provide down payments of a few hundred dollars.

“The loan is directly from the developer, bypassing traditional mortgages,” Bensman added.

He said Harris was charging maximal interest rates, approximately 15%, to secure his operation’s feasibility.

Making matters worse, “there’s very thin law-enforcement presence in that area,” meaning that an entire city is growing up outside of the law of the United States.

Despite its substandard conditions, an unprecedented immigration crisis—coupled with a president unwilling to do anything about it—mean interest in Colony Ridge has been booming.

Michael Yon, an independent journalist who has documented the expansion of Colony Ridge, noted that the town is primed for a population explosion.

“I don’t know how many live there now, but this is going to be big enough for 200,000 people,”  Yon said. “They’re actually building a city.”

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