Immigration Crackdown Could Sink Home Prices
by Prashant Gopal
February 22, 2017, 5:01 AM EST
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 ...
https://www.bloomberg.com/news/articles/2017-02-22/why-trump-s-immigration-crackdown-could-sink-u-s-home-prices