Will Immigration Ban Effect San Diego Real Estate?
President Trump’s tougher immigration standards and outright ban of certain countries has sparked debate on both sides of the political spectrum. The results have already been felt along our southern border, as NBC San Diego reported a 40% downturn in illegal traffic at the border from January to February in comparison to last year. Certainly a decrease in illegal traffic is a positive thing, since it means that less people are risking their lives to cross treacherous landscapes. But will that effect values in San Diego Real Estate?
San Diego Real Estate vs. Mexico Real Estate
If you live in San Diego, you probably know someone that commutes from Mexico on a daily basis. Obviously, the cost of living and the food is more then enough to entice people to deal with traffic at the San Ysidro crossing. But today, NBC Los Angeles reported that a US resident was detained and hassled at the border for 24 hours before being allowed to return to Utah. If border security continues to increase in severity, will US citizens that live in Mexico opt to return to San Diego and avoid the hassle?
San Diego Inventory
If a large number of US citizens living in Mexico were to move back over border concerns, could the resulting demand on inventory push housing costs higher? Or at the very least, could it offset the expected financial hit from less Hispanic customers? Although experts in 2016 predicted an increase in US residents making the move to Mexico, it will be interesting to see how Trump’s policies will effect those relocation plans.
Ultimately, the San Diego Real Estate Market has continued to lead the nation. The true impact on the market remains to be seen and may not be completely understood without a few more months of data. Until then we will have to observe the headlines and bottom lines.