As some look to the border crisis as a war of political ideology, others believe it is clearly affecting people in the United States, including with regard to the housing market. As border crossings surge, a California-based program could lure even more immigrants to the Golden State. California A.B. 1840, or the California Dream For All Shared Appreciation Loan program, won’t disqualify an applicant based on his or her immigration status.
“You have incentives that are encouraging them to cross the border, such as the California Dream For All program, which essentially allows people who are not citizens of the United States [to] apply for loans to purchase homes,” said Mark Powell, a real estate broker and the president-elect of theSan Diego Association of Realtors. “In fact, that was amended to specifically state that immigration status does not have anything to do with your ability to qualify for a low-income home.”
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Powell explained that weak laws that favor the tenant over the homeowner cause many to sell, which, combined with these incentives, exacerbates the housing crisis.
California has also prohibited landlords from using a person’s credit history or FICO score as part of the application process by way of S.B. 267. Another law, A.B. 1418, restricts a homeowner from conducting a criminal background check on a tenant applicant.