What impact will tightening immigration restrictions have on California’s housing market?
- Negative. (39%, 41 Votes)
- Positive. (32%, 34 Votes)
- No effect. (29%, 31 Votes)
Total Voters: 106
This poll will close on October 7, 2019.
POLL: What impact will tightening immigration restrictions have on California’s housing market?
Personally, I feel it could have a positive impact.
The previous broker I worked for used to tell me on and off how many SFRs in the country were now being owned by foreign investors and the like, taking up whatever inventory is out there, tightening up the supply for American homebuyers, and forcing more people into renting rather than buying, while still causing home values and rents to rise.
When I was doing quite a bit of driving for Lyft last year, some of the people I managed to start a conversation with had mentioned to me that they knew family or friends who sold their homes, either in this state or another, and the buyer was a foreign company or investor. Others said they had or were renting a house or apartment, owned by a foreign company or investor.
While tightening immigration regulations won’t do anything to curb foreign investors and companies from buying up what real property they can, it can help ease the demand of what inventory is out there, for those renting and those buying. Could this cause values and prices to drop, yeah, but it won’t be a long lasting effect.