After the heavy blows suffered by the education sector and the tourism industry, it is now the turn of the USA real estate market to taste the same bitterness.
Across much of the United States, housing prices have seen a significant decline of nearly 20 to 40 percent. Analysts point to two key reasons; President Donald Trump’s strict immigration policies and an unstable job market. Both have created a sense of uncertainty among buyers, especially in immigrant communities.
For years, Indian professionals have been among the top homebuyers in America. As one of the highest earning immigrant groups, their investments in real estate have helped keep housing markets strong in many cities. However, the current climate has shifted drastically.
With nearly 55 million visas reportedly under scrutiny, including H1Bs and Green Cards as well, many Indian families now face uncertainty about their legal status and long term plans in the USA.
This insecurity is forcing potential buyers to delay or cancel home purchases, further weakening demand and pushing prices down. For those who already own homes, the drop in value adds financial strain on top of growing fears about their future.
The situation conveys how closely immigration and housing are tied. Until stability returns in both policy and employment, the American housing market is likely to remain shaky, with immigrant families being troubled.
Realtors in the USA warn that the situation is alarming and could worsen if prices fall further.
