Posted on 02/22/2017 11:06:53 AM PST by artichokegrower
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.
(Excerpt) Read more at m.sfgate.com ...
These immigrants aren't being brought here for cheap labor. They're being brought here in a desperate attempt to generate new consumers.
Darn! All of those elitists who’ve invested in the MULTITUDE of apartments, all across the country, will be hammered!
Bwahahaha.
Just who will rent their apartments, now that home prices may fall AND illegals are going to get the boot?
I’ve never owned a home, but I’d like to know how these people, who aren’t citizens, have the right to buy a home? If they pay cash that’s fine, but why should they be approved for mortgages, when it’s not even certain if they’ll be here to pay the thing off. Let’s say that engineer here on a work permit goes back to India, and defaults on his mortgage. How will they be able to get that money back from someone residing in another country? Who pays for it then? You know the banks aren’t going to foot the bill. I know in some countries, if you weren’t born there, you can’t mortgage property, but have to pay cash.
So our economy is now based on illegal aliens?
The building where the fire occurred has apartments listed for $2,800+ per month.
The reports I've heard indicate that 12 people were living in the two-bedroom apartment where the fire broke out.
There you have it, folks.
It's simply immigration enforcement, not a "crackdown".
No, just economics.
Lower demand leads to lower prices and lower margins.
Maybe we should just open the borders up completely so your house goes up .00001% in value? Is that what you are saying?
If builders have to pay higher hourly rates to obtain legal employees they will need to charge higher prices to build a house or not build it. If the price of new home increases because of higher wages and/or become more scarce because they aren’t being built then the price of existing homes will rise.
Also with more legal residents working at higher wages they should be more able to buy a house as well thus driving demand and increasing home prices.
Now inflation is good? Or was it when Trump decides to raise tariffs that inflation is bad only?
I say winwin for US workers: low cost housing, higher income... all that the greedy elite hate
In the far southern limits of my city, Bakersfield, is a new tract of homes advertised from the mid $100’s. Looks like all or most buyers are Latino and I’ll bet many illegal.
LOL. More fake news. God help us if we start enforcing our laws. It costs US taxpayers $130 billion a year to support illegal aliens. Property taxes continue to climb as the children of immigrants, legal and illegal, flood our schools and hospitals. Immigrants, legal and illegal, use the welfare system to a much greater degree than the native born.
Neighbor was replaced by someone from India many months ago and has been unable to find a full-time job. Currently works two part-time jobs and wife works part-time job. Unless he finds something soon he’s going to lose his house in foreclosure.
Would be sooooooo happy to see the value of my home go back to what it was even five years ago. Would save me tons of money for wind and comprehensive insurance and property/school taxes. Many of us who are on fixed income care more about maintaining our current roof over our heads and not having to move than any increase in value.
I absolutely agree. It’s become depressing to see these posts!!!
I call B.S. on this.
If you are smart enough to be a software engineer working here legally on a work permit you are smart enough to know
you're not going to be nabbed and deported as an illegal by ICE.
RIGHT!!!!
So my property taxes will go down, and housing will become more affordable? Downside?
I'm still feeding 7-cats from that time.
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