Immigrants' impact on real estate markets

On this "Day Without Immigrants", it seems appropriate to ponder the impact that immigrants have on Indiana’s real estate markets. We are unaware of any quantitative studies on this topic, but anecdotal evidence suggests that it may be significant. This recent article in the Pharos-Tribune (Logansport) on the Cass County housing market caught our attention (read the full article here):

Both [Tom] Scheetz and [Lori] Lange have seen more people looking to buy since the weather has turned nice. Scheetz said spring is typically his best time of the year, but over the past five years he has seen that trend change.

“Believe it or not, the market here is not too bad,” Scheetz said of recent sales. He said what is saving the market are the Hispanic home buyers.

“The Hispanic market has been a very good market for us. They have basically saved our market,” Scheetz said. “They buy whenever they feel the need to buy.”

It has been a stable market.

With Hispanics helping keep the market stable, Scheetz said he didn’t see a lot of down time.

“I would say Hispanics are the majority of people buying homes right now.”