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Losing Illegals
10 posts by 5 users
Jason F.Real Estate InvestorGainesville, FL 
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What do you think will be the effect on the rental market when illegals in the south west states start going back to Mexico because they can't find jobs? I've read a few reports that people are slowly starting to head back because the demand for construction workers has dropped soo much. One article says that there has been a sharp increase in the number of families that are actually sending money FROM Mexico to their relatives in the US to help out. Wow. For those of you in Texas, New Mexico, Arizona, etc. Are you seeing vacancies as a result of day laborers leaving? Wasn't sure if it would have an effect. |
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Christian M.Real Estate InvestorHarrisburg, PA 
 Moderator |
Construction has been very hard hit. Even in the capitol city of Harrisburg, PA we are seeing it. Our phones have simply stopped ringing (luckily we are booked out fairly well through the end of the year, but what happens in January?). It is not just us. I am very involved in the National Association of Home Builders (NAHB) and the National Independent Electrical Contractos (IEC) - my fellow members are laying off folks left and right. Construction, which has led the country in the past to wealth and riches, may just end up being another casualty in this economy. Bail out for small electrical firms in Harrisburg, anyone? |
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Jason F.Real Estate InvestorGainesville, FL
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Yeah, I'm sure business is down. I was just wondering how the loss of jobs and the reverse of people back across the border would effect the housing markets in those states with a heavy immigrant pop. Remember when the whole debate about illegals not being required to have ss numbers to buy a house was going on? |
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Christian M.Real Estate InvestorHarrisburg, PA
Moderator |
You mean it is STILL not going on??? |
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Jason F.Real Estate InvestorGainesville, FL
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Well, seeing as most normal buyers aren't getting approved, I would think most illegals wouldn't have a shot in hell. |
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Jordan S.Real Estate Investornew york, NY 
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ah the topic no one wants to ever discuss and I believe that it had a huge hand in this crisis we're in. aside from taking all the jobs, the immigrants proceeded to get subprime mortgages on the houses they built with their own labor... then they didnt pay the mortgage and now theyre heading for the mexican hills as fast as they can. funny how it all works. |
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Adrian P.General ContractorWarrenton, Virginia 
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In our area the illegals or low income labor workers just abandoned the properties. Literally just left the house. Of course then it gets foreclosed on and up for sale later. This has not been just immigrant labor it has been low wage earners of all types that took out risky loans. In a few cases the houses were stripped out on the inside and the parts sold off. I am not sure as revenge to the bank or just getting some $. In these cases though it has been middle class white peoples houses! Like 400-500K houses, not street corner crack houses. FWIW I own a remodeling company and still workers are greedy for top dollar. So times are not that tough yet. |
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Trent W.General ContractorGilbert, Arizona 
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I am in the Phoenix area and the rental market is defintely suffering, however I cant say how much is due to illegals. Quite frankly, 1 in 10 dollars in Arizona was attributed to construction, so since the construction market has crumbled, it has had tremendous impact on the rest of the economy. As such, there are very few jobs for anyone, much less illegals. Throw in the employer sanctions law (allows the government to revoke a firms business license if caught knowingly employing illegals), and there are very few jobs for illegals. Truth be told, the illegals that I happen to know personally, are all still here and in their houses, either owned or rented. I know FAR more average legal residents that have walked away from their houses than those that are illegal. Anyways, given the overal downturn here, the rental industry is certainly hurting. Rents are going down as vacancies are going up. Commercial vacancies are increasing now too. Edited: 10/14/2008 at 09:01PM by Moderator |
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Jordan S.Real Estate Investornew york, NY
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trent, you didnt happen to knowingly hire illegals did you? lol.... I think this crisis will bring back good american work ethics including manufacturing in the long run |
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Jason F.Real Estate InvestorGainesville, FL
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I agree Jordan. Hopefully the labor unions won't run all their companies into the ground either. I think people will slowly realize the crap they buy from overseas will never stand up to it's US made counterpart. |
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Posted: 10/02/2008 at 06:57PM