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  • N2Doc (2498 posts)
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    Why Trump's Immigration Crackdown Could Sink U.S. Home Prices

    In San Francisco, an Indian software engineer on a work permit canceled plans to bid on a $900,000 home. In Washington, a Brazilian nonprofit executive passed on a fixer-upper near her office. And, in Mesa, Arizona, a 24-year-old son of undocumented Mexican immigrants won the trust of a bank — a green light for a mortgage — but now fears deportation.

    President Donald Trump’s immigration policies threaten to crack a foundation of the American economy: the residential real estate market. Legal and otherwise, immigrants, long a pillar of growth in homebuying, are no longer feeling the warm welcome and optimism necessary for their biggest purchase.

     

    While the Trump administration indicated it would exempt dreamers, stepped-up immigration raids and the travel ban on seven majority-Muslim countries — blocked in court — are creating panic in many who believed that their American dream was within sight.

    “If Trump gets the immigration plan he wants, the housing market will get hit harder than any other,” said Alex Nowrasteh, a policy analyst for the libertarian Cato Institute. If “millions of people get deported and more people don’t come in to take their place, then you’ll have downward pressure on home prices, especially in urban areas.”

     

    more

     

    https://www.bloomberg.com/news/articles/2017-02-22/why-trump-s-immigration-crackdown-could-sink-u-s-home-prices

     

    "But nothing ever changes unless there's some pain" - Tears For Fears "Goodnight Song"

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  • doh1304 (89 posts)
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    1. So people like me will be able to afford a home?

    Careful or I’ll forget that Trump is eeeeeevil. (btw, I’m a homeowner)

    • N2Doc (2498 posts)
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      2. I always hear that

      Yet we had a slump in prices in 2008-2010. Why didn’t people take advantage of that? Because you had to have a job!

      The main folks who can take advantage of these slumps are those with lots of cash on hand, i.e. investors.

       

      "But nothing ever changes unless there's some pain" - Tears For Fears "Goodnight Song"
      • doh1304 (89 posts)
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        3. You're right.

        The criminal rich will take advantage of any situation. But we need to lower housing costs. But then again admitting that the rich will ruin things is defeatist thinking, even though it is true.

        Anyone have an answer?