As we indicated in entry nine, many illegal immigrants have jobs that pay well enough that they can live fairly affluent lives. Indeed, in 2009 Pew Hispanic Center estimated 35% of all undocumented citizens in America were homeowners, a rate which rose up to 45% for illegal immigrants that had spent a decade in the country. A big part of the reason that this is possible is that ITIN loans allowed for mortgages to be given to illegal immigrants. If they were removed, that would leave as many as three million homes unoccupied.
The number of abandoned homes will lower the value of many homes, and make maintaining them prohibitively expensive for banks, which Bankrate.com warns will encourage crime on top of sanitation problems like wild animals infesting the abandoned homes. On top of all those other financial problems it will remove much of the demand for the homes in growth areas in America.