Some Experts Say Continued Illegal Migrant Crisis May Worsen Situation for First-Time Homebuyers

Since 2021, millions of illegal migrants have crossed into the United States, and major cities in sanctuary states from New York to California are now grappling with a crisis situation as shelters, city streets and even subways are bursting at the seams. Not only is the surge of humanity affecting city budgets and quality of life issues but also some real estate experts believe it will ultimately affect the housing market—especially for first-time homebuyers who are already battling against escalating prices in a market where inventory remains scarce. Moises Agami, CEO of Valor Capital Real Estate Development, told The Epoch Times that the current migrant situation could ultimately cause a serious “houseless” problem, especially among potential first-time homebuyers. “This has been an unnatural and unanticipated situation and eventually as these migrants obtain jobs and become part of the economy, the result is going to be a bigger housing crisis than we already have,” he explained....