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

Worth to discuss here. :slight_smile:

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Bay Area has built 1 home per 8 jobs created since 2011. It might cause a pause but it’s not going to make a big difference. Also, there’s a lot of irrational and emotional thought happening. Once that passes the high income, legal immigrants will resume buying. That or the rental market is about to get a lot more crowded and rents will increase.

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Well, I opened a topic already on this subject, many shied away from it.

You want to watch something funny?
They will put a smiling face to this, they are safe in their bubble. They feel they are the God of creationism, where dinosaurs still roam earth. Or they rode Noah’s ark. But I guess, some, as I understand, voted for mr Twitler in chief. And they may start to have some buyer’s remorse.

Just the floods in San Jose, Morgan Hill and everywhere else are showing them what it can happen with just one incident. How about 100,000 of them in the silicon valley?

Just to let you know some ignorance, one of them said “I don’t rent to illegals” as in breaking the law.

But, it’s OK, his or her renters, as soon as they see bunches of empty apartments or homes, will rent to the cheapest guy in the block or city. This will trigger a massive hunt for renters, whom are going to be so happy of finding so many good landlords begging them to stay or to get their units. Rents going down, home prices going down, cha-chin, be ready to buy or to sell. :stuck_out_tongue_winking_eye:

I know, I know, “we can bring legal people” so fast said somebody. But, poor guy forgot that mr Twitler doesn’t want legal people to come if they are not vetted more than what they are now. One terrorist activity, say in India, would put that country in the terrorist list of countries to do a better vetting. Remember, a terrorist doesn’t have to come and blow a bomb, no! He can come here, and with the use of a computer create more havoc than many bombs. Right from Google and Facebook cubicle.

I hope I am not giving Twitler bad ideas. He wanted to close the internet “somewhere” :stuck_out_tongue_winking_eye:

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Do people realize how many commute to the Bay Area from Hollister, Los Banios, Modesto, Tracy, Fairfield, etc. you really think illegals making $10-15/hr live in the Bay Area? They are commuting from the exurbs. Those places might suffer from it.

If legal immigrants in high paying tech jobs take a pause from buying, it won’t even be a blip on the radar. There’s so little inventory.

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Me like…

:stuck_out_tongue::stuck_out_tongue::stuck_out_tongue:
OK Comrade! The mafia is coming!

Other foreign buyers could step in. Trump’s friendly stance toward Russian President Vladimir Putin is heartening buyers from that country. They had held back after his 2014 Crimean takeover prompted Obama to impose sanctions, according to Edward Mermelstein, a New York-based real estate lawyer who represents wealthy foreigners. His Russian clients negotiating home purchases in New York and Miami more than doubled since Trump took office.

Skittish Buyers

Even immigrants with high-paying jobs and valid visas are getting skittish. Two of them asked not to be identified because of fears of recrimination.

The 32-year-old Silicon Valley software engineer from India gave up on buying because Trump had so rattled him and his wife. He moved to the U.S. seven years ago and decided to become a homeowner after marrying a biomedical engineer from his home country a few months ago.

The newlyweds have H1-B visas, a program that technology and other companies rely on to hire 85,000 people each year.

“We were about to make some offers,” he said. “But we don’t know what news will come out and how that will affect our jobs.”

Their real estate agent, Nomita Shahani, said a colleague in her office just had a customer with an H-1B visa pull out of a purchase contract in Fremont, California, because of similar concerns.

Yes, but to my point they still need a place to live, so they’ll continue to be renters. They aren’t creating vaccany

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[quote=“buyinghouse, post:7, topic:1735”]
The 32-year-old Silicon Valley software engineer from India gave up on buying because Trump had so rattled him and his wife…

Their real estate agent, Nomita Shahani, said a colleague in her office just had a customer with an H-1B visa pull out of a purchase contract in Fremont, California, because of similar concerns.
[/quote]Good for landlords holding rentals there. Fremont is not inside fortress. As shown by druid (I think), SFHs near the big employers (Apple, FB, Google) are very hot. Tesla… hmm… could go insolvent if Elon Musk makes a mistake.

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The SV agent mentioned in the article mainly do business in the Fremont and Pleasanton areas.

People often cite this “one bidder” theory of why SV house prices are immune to downturn: it only takes one aggressive bidder to drive price higher". Isn’t the reverse also true? If that last bidder is an immigrant who now becomes hesitant, price can go lower.

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Price is sticky. Go up easy, come down hard.

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I am not saying price will go down compared to what seller first bought it. Just not higher than the last comps, maybe even a tad lower. Thus the upward trend will stop or even go the other way.

As i mentioned earlier that h1b indians are hesitating to bid for a home now. I am not sure about Chinese h1 buyers. I saw that lot of folks with even less work experience [ 3 to 5 yrs ] bought a home in Sunnyvale/Cupertino areas by getting the money from parents.

Somebody say they won’t stop bidding. Forget who, any comments from that blogger?

If the idea is to take out money from China, no need to sell even if deported, just rent it out.

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How many deportations will there be in Bay Area? Without a number, how can we discuss its impact? At a large number, it’ll of course have an impact. But if it’s only a few thousand, impact would be nil.

H1b hesitation could be temporary. Once the policy is out, people will buy again. It’s the uncertainty.

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+1!

Why SV can’t work without immigrants

Talk, talk, but no substance. Illegals here, illegals there, but no numbers?

So, let’s put that number to 500,000 undocumented people in the Bay Area. If not more. 100,000-200,000-300,000 units will be emptied if Twhitler delivers his promise. But let’s say 50,000. You’re very welcome.

GOP lawmakers are missing in action in many town hall meetings. They are facing people awakening to find out they voted for lizards. They are even asking why that Benghazi investigation wasted so much money but no investigation on Twhitler’s friendship with Putin. Why Obamacare is dismantled but no replacement? They are mentioning impeachment, yes, republicans!

I kind of never lost confidence on this weak democracy.

And what’s the Twhitler in chief saying? Accusing his own people of being paid for by whoever. That is adding gas to the fire underneath your feet.

Tea Party will be the GOP worst enemy. :stuck_out_tongue_winking_eye:

Something happened last night in Sweden. Or, was it Japan?

Oh, that wasn’t a liberal teacher, but a conservative one. She is gone! Quit!

Such values.