Arizona Immigration Law Could Increase Foreclosures

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The boycotts were just the beginning. Arizona’s harsh immigration law—set to go into effect on July 29—could have a far-reaching impact on the state’s economy. Economists and real estate analysts in the state are now predicting that the law could end up hurting the already battered housing market in areas like Phoenix, where foreclosures hit a record high in March. From The Arizona Republic:

An exodus of people—both legal and illegal residents—could be one more drag on a housing-market recovery. Departures from a state where growth is the economic foundation could add to the number of foreclosures and vacant houses and apartments, all of which will hurt the housing industry just as signs of recovery are starting to appear.

Driving illegal immigrants out of Arizona is one stated purpose of the new immigration law. But the law, experts say, could also drive out legal residents and deter potential new residents – people who are afraid of what might happen to them or who simply object to the law.

There’s a misconception among some Arizona residents that illegal immigrants don’t own homes in the state. Housing advocates say thousands if not tens of thousands of people who are not legal residents have purchased houses here…

“The immigration law just piles onto our problems,” said Brett Barry, a Phoenix real-estate agent with HomeSmart. “We are already struggling to find the jobs and keep the schools open to entice new residents.”?

And there are reports that the exodus has begun: Arizona school officials say that illegal immigrant families with school-age children are already fleeing the state. Given the climate of fear and uncertainty surrounding the new law, it’s not surprising that both legal and illegal residents are leaving for fear of being persecuted and treated like second-class citizens. And it’s the state’s recession-hammered economy that could bear the brunt of their departure.

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SIX TRUTHS

Reclaiming power from those who abuse it often starts with telling the truth. And in "This Is How Authoritarians Get Defeated," MoJo's Monika Bauerlein unpacks six truths to remember during the homestretch of an election where democracy, truth, and decency are on the line.

Truth #1: The chaos is the point.

Truth #2: Team Reality is bigger than it seems.

Truth #3: Facebook owns this.

Truth #4: When we go to work, we're in the fight.

Truth #5: It's about minority rule.

Truth #6: The only thing that can save us is…us.

Please take a moment to see how all these truths add up, because what happens in the weeks and months ahead will reverberate for at least a generation and we better be prepared.

And if you think journalism like Mother Jones'—that calls it like it is, that will never acquiesce to power, that looks where others don't—can help guide us through this historic, high-stakes moment, and you're able to right now, please help us reach our $350,000 goal by October 31 with a donation today. It's all hands on deck for democracy.

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