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1
Posted on 8/26/26 at 9:03 am to BCvol
VOR truly believes all illegals entering the country are peace loving, flag waving, true patriots who live in imaginary housing provided for them at no charge. He simply cannot grasp the premise that banks would loan to them or that they are renting/buying single family homes.
Posted on 8/26/26 at 9:04 am to VOR
quote:
Blaming housing costs on immigration
defies logic and mathematics…
Its not as simple as "immigrants get deported, houses get cheaper" by any means, but to act as if reducing demand and increasing supply won't lower prices is foolish, and that's putting it nicely. Literally the most basic principle of economics.
Now I will say I think there are some supply side forces that will keep prices from "Plummeting", along with the fact that if the market did start to tank you'd see rate cuts. When you deport illegals you do take away some cheap labor supply, so labor rates will have to go up to attract workers (especially since the rate of people who are unemployed and not actively seeking work is so high, we need to entice those people with good wages and fewer free rides via welfare). Higher labor costs will increase the price to build a home, but not necessarily cause home prices to rise due to the other factors we've been discussing. They just won't 'plummet', IMO.
We need to ease mortgage rates back to the 4%-ish level once its economically healthy to do so, IMO. We should be looking at mortgage rate health not by historical rate comparisons, but by comparisons of % of take home pay compared to your mortgage payment monthly. To the VAST majority of consumers that is really the only relevant number anyway.
Posted on 8/26/26 at 9:05 am to stout
Who would have thought that deporting millions of illegals would lower housing demand?
Posted on 8/26/26 at 9:08 am to stout
if it wasn’t for those historically low interest rates in the 2010s we wouldn’t be in this situation. Plenty of people want to move or downsize but don’t want to part with their 3% mortgage.
Posted on 8/26/26 at 9:08 am to stout
My oldest child is 44.
Posted on 8/26/26 at 9:12 am to Rip Torner
quote:
He simply cannot grasp the premise that banks would loan to them or that they are renting/buying single family homes.
Family moved in across the street a couple of months ago with Mexican plates on his truck. Hell yeah it's happening.
Posted on 8/26/26 at 9:13 am to Enadious
quote:
On my death, my house and all of my possessions will be set on fire, along with all my cash. I'm doing that as a final f^ck you to the Government and all of you Boomer haters.
nobody gives a frick....can you just hurry already, your gen has fricked the country enough. 40 years in power and nothing but frick ups
Posted on 8/26/26 at 9:15 am to el Gaucho
quote:
Have no fear, immigrants and zero interest loans are coming to rescue us
They have to do it. People have so much money wrapped up in their homes, and if this trend continues, values will drop to the point that people will be upside down on their mortgages. Our system is built on this, and since our own population is refusing to have babies, guess what? We will import them.
I am a home investor and have taken a bath during the (2nd)Trump years. Luckily I bought when the market had dipped, but the overall cost of everything has killed me and my partners. There is less demand for homes and rents are falling. That can be good, but it also hurts those who depend on rental income to cover their costs (a few of my colleagues are in deep).
Posted on 8/26/26 at 9:19 am to VOR
quote:
Blaming housing costs on immigration
No one is blaming the totality of housing on illegal immigration, but to think millions of illegals aren't taking up housing inventory...
quote:
defies logic and mathematics…
Posted on 8/26/26 at 9:21 am to aubie101
quote:
They have to do it. People have so much money wrapped up in their homes, and if this trend continues, values will drop to the point that people will be upside down on their mortgages. Our system is built on this, and since our own population is refusing to have babies, guess what? We will import them.
I don't think they HAVE to import people but they will crater rates if the market tanks because they want people who won't leave their 3% mortgage to get back into the market again AND they want values to stay relatively stable.
The home is the largest single investment for a large number of people in this country. That's not a great thing, I would like to see more people in the market, but that's not necessarily a bad thing either. If we continue to try to make ourselves into a nation of renters you'll have an increasingly large voting bloc of renters taking out their frustrations on home owners (you're already seeing it on wealthy home owners in places like NYC). Not to mention that if we crater home prices those people will take a bath.
That's why the mortgage payment, which is heavily influenced by the rate, is so important. Get the payments down and more people will be able to get into a home. There are plenty of options for low or even no down payment that people can use.
I view home ownership as something core to Americanism. We need to encourage it and make it achievable.
Posted on 8/26/26 at 9:28 am to stout
Hopefully this comes to fruition. Regular Americans cant afford a regular American home
My parents bought their current house 12 years ago for $339k in Tyler, Tx (a city of about 120,000) and just had it appraised yesterday for $800k. This is a relatively small market and even there the pricing is totally out of control
My parents bought their current house 12 years ago for $339k in Tyler, Tx (a city of about 120,000) and just had it appraised yesterday for $800k. This is a relatively small market and even there the pricing is totally out of control
Posted on 8/26/26 at 9:31 am to aubie101
quote:
They have to do it. People have so much money wrapped up in their homes, and if this trend continues, values will drop to the point that people will be upside down on their mortgages. Our system is built on this, and since our own population is refusing to have babies, guess what? We will import them. I am a home investor and have taken a bath during the (2nd)Trump years. Luckily I bought when the market had dipped, but the overall cost of everything has killed me and my partners. There is less demand for homes and rents are falling. That can be good, but it also hurts those who depend on rental income to cover their costs (a few of my colleagues are in deep).
Cmon man
You aren’t getting sympathy here
Inshallah the interest rate stays high to keep out real estate “investors”.
Posted on 8/26/26 at 9:34 am to ShrimperDan
quote:
When you deport illegals you do take away some cheap labor supply,
FYI...this is vastly overblown now. It used to be a real thing but ask anyone in the construction field and they will tell you that the days of cheap Mexicans ended long ago. Mexicans demand as much or more as anyone else.
The only savings is on administrative costs. Employment taxes, workers' comp, etc but then you run the risk of Uncle Sam nailing you for not only employing illegals but also fraud and evasion.
Posted on 8/26/26 at 9:34 am to el Gaucho
quote:
Cmon man
You aren’t getting sympathy here
Inshallah the interest rate stays high to keep out real estate “investors”.
Never asked for it.. I am just telling you what will happen. Much, much bigger fish have more money tied up in this and they can't allow it to crater.
Posted on 8/26/26 at 9:37 am to VOR
quote:
Blaming housing costs on immigration
defies logic and mathematics…
supply and demand you fricking dumbass
Posted on 8/26/26 at 9:38 am to stout
quote:
FYI...this is vastly overblown now. It used to be a real thing but ask anyone in the construction field and they will tell you that the days of cheap Mexicans ended long ago. Mexicans demand as much or more as anyone else.
Yeah thats probably just my personal bias coming through. When we ramped up immigration enforcement locally here it really killed some projects for us, but thats could just be a "here" thing vs a national trend.
Posted on 8/26/26 at 9:39 am to TejasHorn
quote:
if it wasn’t for those historically low interest rates in the 2010s we wouldn’t be in this situation.
The extent to which those low rates and COVID forbearance saved the housing market can't be overstated.
Credit risk was so low in 2020-2021 that had the GFC happened during that time, it would have been half as bad.
quote:
A 2019 research paper from the FHFA estimated the share of mortgages that would default in the event of a financial crisis like the GFC.
They estimated that 13.5% of borrowers would have defaulted in a crisis in 2019 vs. 18.4% in 1997.
A 2022 update found that credit risk fell further in 2020 and 2021, reaching its lowest level in modern history, with a projected crisis-induced default rate of just 10.4%.
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Posted on 8/26/26 at 9:39 am to stout
Occasionally, in Florida, I’d request a quote for work done by a company not knowing it was Mexican owned.
My experience supports your post. They are not cheaper in many cases as they were once upon a time even though I’m guessing their workers aren’t all legal.
My experience supports your post. They are not cheaper in many cases as they were once upon a time even though I’m guessing their workers aren’t all legal.
Posted on 8/26/26 at 9:40 am to Enadious
quote:
On my death, my house and all of my possessions will be set on fire, along with all my cash. I'm doing that as a final f^ck you to the Government and all of you Boomer haters.
This is on brand.
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