If stricter immigration policies are implemented, many homeowners and potential buyers may be affected.
Bloomberg reports as threats of deportations loom, lenders and foreign-born buyers are becoming more cautious about buying a home.
A University of Washington economist estimated that the nation’s 40 million immigrants add $3.7 trillion to total housing wealth.
If financing dries up and borrowers lose faith, it will mark a major reversal in the market. New arrivals are expected to account for more than a third of growth of homeowners this decade. … While the U.S. homeownership rate in 2015 was the same as it was in 1994 (66 percent) it has risen 2.4 percentage points for the foreign-born population, to more than half.
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