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CATHERINE REAGOR REAL ESTATE
“(F)ewer people are participating in home ownership, particularly among the younger generation, and that is tied to student debt, at least according to our survey.� LAWRENCE YUN, National Association of Realtors chief economist
President Trump may bring home debacle
Student loan debt is hurting the housing market, survey finds KATHY ORTON THE WASHINGTON POST
Nearly three-quarters of people who are repaying student loans say their debt is hindering them from buying a home, according to a survey released Monday. • Although a college degree significantly enhances a person’s chances of gaining stable employment and earning enough for a down payment, the survey found that many would-be homeowners are increasingly burdened by student debt. See LOANS, Page 3R
PHOTO ILLUSTRATION BY ALIYA MOOD/GANNETT AND THINKSTOCK
Most agree Donald Trump’s plan to deport 11 million immigrants living illegally in the U.S. would have a big impact on metro Phoenix’s housing market. The dispute is over whether it would hurt or help the market. Many housing experts think the mass deportation would hurt home prices and rents. But at least one prominent Arizona politician and Trump supporter thinks it would lead to more affordable housing for new workers coming to the Valley. About 190,000 metro Phoenix residents aren’t in the U.S. legally, according to national research. That many people translates to about 100,000 Valley households. Basic math: A drop in the number of people living in the Valley means fewer homeowners and renters. Basic supply and demand: An increase in empty homes because of foreclosures usually leads to a drop in overall values. Higher rental vacancies mean lower rents. I asked a few housing analysts to project what the impact of Trump’s deportation plan would be on Phoenix’s housing market. All said it would be a hit to a market finally about to fully recover from the last crash. None of the housing experts wanted to go on the record because the issue is so politically divisive. I understand their position. So please send angry emails to me at catherine.reagor@arizonarepublic.com. One analyst looked at Pew Research Center data on the number of people living in the Phoenix area illegally and said a mass deportation handled in a short time frame would lead to 1in every 9 Valley homes becoming empty. And the biggest impact would be on rentals and homes priced below $500,000. On the other hand, state Sen. John Kavanagh, R-Fountain Hills, sees the Trump deportation plan as a benefit to metro Phoenix. “It’s a solution to getting more affordable housing,� he told me. “The argument suggests that if people here illegally left, no one would take their place. I don’t think that’s true.� Kavanagh believes the jobs and homes left vacant by Trump’s deportation plan would be filled by “millions of See REAGOR, Page 3R
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SCOTTSDALE | 8166 East Questa Road | Open Today 1–5PM
LUXURY SCOTTSDALE HOME WITH TWO-BEDROOM MLS# - 5399740 GUEST HOUSE. Graced with lush desert landscaping, this Bedrooms - 7 beautiful home is snuggled on a fabulous north/south lot in a quiet neighborhood. Circular drive, pavered pathway, pony-walled Bathrooms - 5 Pool - Yes courtyard. Striking living room w/soaring beamed/vaulted ceiling, twin-set of wood-trimmed French exits. Kitchen w/gorgeous Sq. Ft. - 5,509 granite, upscale appointments. Super-spacious den/family room ZIP Code - 85255 (w/wet bar) is ideal as game room or billiards parlor. Sun-kissed master suite w/pampering bathroom, fireplaced sitting area. Party Online Pics - BaldwinTeam.com Price - $995,000 ramada, sun/lounge decks, huge lawn, dining/dancing patios, firefall, waterfall, heated pool, spillover spa. Two-bed/two-bath guest home. Visit tourfactory.com/1506661. Inside: details, directions.
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