Real Estate News Blog Virginia June Archive

Strict Immigration Laws and their Impact on Local Real Estate Values

By Art C Ryter at 06/27/09 18:33

 Strict Immigration Laws And Their Impact On Local Real Estate Values Discusses the relationship between anti-immigration laws and real estate prices between Prince William, Manassas, and Fairfax counties in Virginia. Prince William and Manassas counties have passed ant-immigration laws which have led to foreclosures throughout the county; many of which were formally owned by individuals with Hispanic last names. As they have fled to Fairfax county and further, prices have declined by 40% from the mid $400,000s to $239,000. Many residents, especially local citizen groups, such as the stay at home mom's group, are happy that their neighborhood homes are becoming rental housing rather than the former multi-generational homes of the immigrant community.