IMMIGRANT DREAMS TO KEEP SPARKING U.S. HOUSING RECOVERY

The efforts to revamp U.S. immigration laws may bring at least one unintended benefit for the economy: a boost in the housing market.

Bloomberg reports that an additional 2.8 million immigrants will be homeowners, by the end of the decade, according to a study by the mortgage bankers association.

The study also said immigrants will account for over 50% of home buying, in some of the nation’s most populous states, including California and New York.

Mortgage experts say giving legal status to current undocumented immigrants already in the U.S may generate more than $100 billion in new mortgage loans,  within the same timeframe.

–         With reports from Bloomberg.com

No Comment

Leave a Reply

*

*

POPULAR POSTS