Bloomberg: Why Trump's Immigration Crackdown Could Sink U.S. Home Prices

[CousinIT]

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.

. . .

Even workers with green cards and work visas under the H1-B program for skilled foreign workers are worried about possible restrictions under Trump. The housing markets most at risk include Miami, Silicon Valley, Los Angeles, San Francisco and New York, which have the biggest concentrations of foreign-born buyers.

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

Is this a backdoor effort to deliberately damage housing markets in the most populous and Democratic states in the nation ie: the coastal "elite" states as Republicans call them - NY and CA? Or does it just "work out" that way?

[Tanuki]

1. Great opportunity for Trump's Russian cronies to launder more money

by scooping up property at rock -bottom prices.

[jehop61]

2. The first places that should be raided

Are Trump Winery and Mar a lago for all the those H1-B workers they've brought in to work.

[jmg257]

3. I think it just works out that way...farms

Suffer too.