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From: tejek	7/22/2010 2:23:26 PM
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Immigration Law Could Hit Housing Market Hard Even more vacant homes could fill neighborhoods Published : Monday, 14 Jun 2010, 7:40 PM MDT PHOENIX - Arizona's controversial new immigration law is expected to have a big effect on the valley's housing market. Some people fear it will lead to a lot more foreclosures, and squeeze the life out of entire communities, as many leave the state. Realtors say there are many illegal immigrants who own homes in the valley. They tell us about families where one spouse is legal and the other isn't. They don't want to face the prospect of deportation and the family being split apart, so they're getting out of Arizona. Also, families that are legal who oppose the law could take flight. So what happens to the neighborhoods they leave behind? Five families have moved out in one block near 15th Ave and Southern in south Phoenix, because of fear of the new immigration law. The areas that are heavily populated by Hispanics could become ghost towns. Ruben Medina has lived in that neighborhood for a long time. "There will be a lot more vacancies… a lot of people are not going to want to come here. If I was Hispanic and from another state, why would I want to come over here and be harassed?" Margie O'Campo de Castillo, who works for Arizona Dream Realty, says, "I can tell you that I have spoken to many people. Because of that bill they are leaving the state. They don't want to face repercussions; they do not want to have their families separated." The law hasn't even taken effect yet, but the fear factor is there. Housing experts say the employer sanctions law also had a negative effect on the market, but it's hard to tell because of the economic downturn. It's also possible that some out-of-state families will choose to move to Arizona in support of the immigration law -- only time will tell its effect. The law goes into effect on July 29. myfoxphoenix.com

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