An economist from Trinity College, Cambridge has shown that low income immigrants lower home prices when they move into a neighborhood. The reason is that there is often an offsetting out-migration by wealthier residents. (Read the article here)
Filipa Sa, the researcher, found that for a one percent influx of immigrants, there was a linked 1.6 percent drop in property values. For home builders and realtors, however, the more persons there are arriving in the country and seeking housing, the better it is for them – but this study shows that does not make it better for established residents.