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 ...
That would explain all the crooked real estate agents. The real estate industry for the most part our enemies of Donald Trump.
This isn’t a falling knife. It is the passing of the seasons, and the positives are as great as the negatives for the citizenry overall.
Affordable Housing - always touted by the left as a Social Justice goal....They should be ecstatic.
We really need to start identifying the source of these articles in the title of the post. It’s a waste of time to read such tripe from Democrat Party/Leftist “news” sources.
***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.”***
So, my take is, there’s no problem here. This guy says IF millions get deported AND more people don’t take their place, THEN there will be downward pressure on home prices...especially in urban areas. There will be people taking their places. They will US citizens and also some legal immigrants.
Too bad it won’t slow down property tax increases. 10% hike every single year in TX.
Yeah because nothing increases home prices like erecting tons of low income rent free public housing for illegal immigrants in the neighborhood
I believe you are correct.
I’m on that guy’s side. If he is still around, he needs to be on TV more.
That’s the problem. They are all foreigners who are looking out for themselves not their fellow Americans. The less of their dreams coming true the better.
Think about the ridiculousness of that headline.
With most purchased items we want prices to go down. Cell phones are a fraction of what they once cost. Computers are cheaper than they were, and yet more powerful.
It is only with homes, where the R/E lobby and banks perpetrated the idea of a home-as-investment, have we been convinced we want houses to be ever more expensive. The result was the first housing crash followed by a band-aid fix from the Federal Reserve to artificially lower interest rates to prop up the housing market.
The same liberal media also told us that Trump’s victory would sink the stock market.
The immigration crackdown might have impact on locales where illegals would seek to buy.
But in zones where illegals weren’t buying anyway, nobody will notice.
It will likely lead to more young families being able to get their jump into a starter home, which has been difficult since 2008.
And it was South Americans who created the crash in the Miami condo market during 2005-2008. They were buying these condos in excess of $300/SF. When the market turned, they said "Hasta La Vista, Americano", and went home.
Dozens of Florida banks went under, because the condos were underwater, and the borrowers (all from Visa Waiver countries) were long gone.
PRESIDENT Trump does not have an “immigration crackdown”. This is more fake news. President Trump is deporting illegal alien invaders who are in this country illegally and who are breaking our laws, killing Americans and stealing from the U.S. taxpayers. This is just another fake news sob story written by an America-hating snowflake.
I’m pretty sure it was illegal immigrants with no doc, no down mortgages that sank the housing market in 2008-2012.
Yep, bring prices down and we’d have more purchasers in the middle, less of a need for housing subsidies on the low end. Most people could afford a higher standard of housing.
Look at all the infrastructure costs we’d save if all of a sudden we didn’t need to keep building new schools, widen roads, expand airports and hospitals, etc. The price for used cars and the like would go down too. Less traffic, so shorter commutes.
The best thing we could do for our environment.
Cue the tiny violin ensemble.
It should be an American citizen buying that $900,000 house. It’s not, because Silicon Valley prefers to hire cheap IT labor from foreign countries instead of hiring Americans at a competitive wage.
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