In an effort to curve the rise of illegal immigrants in the state of South Carolina, more specifically, the city of Summerville, officials have drafted and approved an ordinance that aims at banning illegal immigrants from living in their town.
According to the Huffington Post:
Under the ordinance, up for final approval next month, renters would have to prove they are American citizens or in the country legally. A verification form would have to be filed with the town.
This comes at a time in this country when Arizona is proposing some strict immigration reform in their state and it seems that many states are watching and considering following in step. This is a very politically charged topic and I am not sure all sides are considering the effects this will have on the overall economy, but that is just me.
Banning Illegals from Renting
Sure the aim is to get them out the country or on a proper road to citizenship, but are you considering the effect this will have on real estate markets. I know here in the Chicago metro area, you have large Hispanic populations that are taking up a large portion of the rental property. Just imagine if these people were not allow to rent from their landlords? How much more would the vacancy rates in the city go up because of an ordinance like they are trying to impose in South Carolina?
The ripple effect through the economy could be very dangerous. And what about the lonely property owner that no one seems to be representing? How could they fill their properties to cover their expenses and mortgages? It could be a very dangerous time for them coming up in the near future. I am not sure how this will play out, but I can tell you that Invest With Passion will be watching.
What are your thoughts?
Let us know how you feel about the illegal immigrants in this country and should they be allow to rent housing? If you were a property owner and couldn’t find a tenant to rent your property to, would you consider allowing an illegal to rent in your property?
And what do you think about South Carolina’s ordinance to ban illegal immigrants?
