Crackdown on illegal immigration could raise cost of new and existing homes

[w¡n9Nµ7 §£@¥€r 123]

By FORTUNE's estimate, up to 40 percent of new-home construction in the U.S. is being done wholly or partly by undocumented immigrants. Fuentes suspects the percentage in his home state of Texas is closer to 80 percent.

[...]

A crackdown on undocumented workers would shrivel an already tight construction labor market. Lee Wetherington of Lee Wetherington Homes in Sarasota, Fla., estimates that 70 percent of the workers employed by his subcontractors are Hispanic immigrants.

"If for any reason we lose that work force, you're going to see the time required to build a house double or triple and the cost of new homes increase 30 to 40 percent," Wetherington says.

If developers find they can't pass along those costs, they may pull back on construction - and fewer new homes could ultimately boost prices of existing homes.

http://money.cnn.com/magazines/fortune/for.../06/12/8379210/

[Sister Fracas 5]

I can't be arsed to read the news today....but nice to see you Ari!

[I'm Gone 60]

Yeah we can't do anything to illegal aliens or the Earth will stop spinning. LOL

[irishgirl73 0]

Yeah we can't do anything to illegal aliens or the Earth will stop spinning. LOL

[Hilarious Clinton 452]

But we will save money on health costs (that we the legals pay) of the illegals.

[Mr. Big Dog 10,747]

Yeah we can't do anything to illegal aliens or the Earth will stop spinning. LOL

Yeah, I'm petrified, too.

[w¡n9Nµ7 §£@¥€r 123]

If the earth stopped spinning, I bet that would really reduce home costs.

[pax 0]

How sad, people buying those McMansion monstrosities will have to pony up a few extra dollars. I'm digging deep in my old sympathy well and coming up empty.

[rclouse 0]

I feel we need to do the right thing. But what is the right thing? Is it right to exploit illegal aliens just so we can have cheap produce or homes? No. But what if we don't have illegals doing jobs like this? If we have to employ citizens or LPRs to pick crops, American produce won't be able to compete in the global market (for example). Is it right to sacrifice an entire industry to correct a wrong? Of course not. But what should we do? I don't know.

[w¡n9Nµ7 §£@¥€r 123]

I feel we need to do the right thing. But what is the right thing? Is it right to exploit illegal aliens just so we can have cheap produce or homes? No. But what if we don't have illegals doing jobs like this? If we have to employ citizens or LPRs to pick crops, American produce won't be able to compete in the global market (for example). Is it right to sacrifice an entire industry to correct a wrong? Of course not. But what should we do? I don't know.

Well put.

How sad, people buying those McMansion monstrosities will have to pony up a few extra dollars. I'm digging deep in my old sympathy well and coming up empty.

McMansion monstrosities aren't the only homes that cost more than a pretty penny. Especially here in the NE.

[Ban Hammer 13,345]

how does illegal house labor increase the cost of existing homes? there is hardly any work for them to do on an existing home.

Edited June 1, 2006 by charlesandnessa

[Trompe le Monde 1,107]

I guess the article assumes the demand for housing is so high that a lack of new homes would force prices up.

Methinks a crackdown might actually decrease demand for existing housing.

[w¡n9Nµ7 §£@¥€r 123]

Methinks a crackdown might actually decrease demand for existing housing.

A crackdown would increase cost, which may have the effect of decreasing demand.

[arwensun1965 0]

First of all American's would not live with the high cost of food if there was not any illegals to pick it for them now its going to cost you new homes (or make them cost higher). These people are scaring the shite out of normal American's because of material like this. American's lived for themselves before this and they damn well will live for themselves after all this has pitted out. As for the price of things going up, they already have, Washington State is one of the highest tax states there is and they still want to heap more tax and ####### on the people here. The cost of housing is way up there in the clouds making it more and more difficult for normal people to buy anything but a poxy shack. ok rant over

[Canuck Carrie 1]

Hmmm. A pretty decent house in our city is no more than $70,000 (high end).

On the agriculture front, when is the last time you saw something grown in the USA at the supermarket? Everything I see is from elsewhere.