According to many real estate agents and mortgage providers who cater to Spanish-speaking immigrants across Georgia, the flourishing Latino home buying market has faltered since April, when Gov. Sonny Perdue signed the Georgia Security and Immigration Compliance Act.

Latino home buyers pulled out of contracts almost immediately. Eliezer Velez, who provides housing advice for immigrants through Atlanta's Latin American Assn., said that for Latinos, buying a home is the American dream but at this time they are hesitant to accomplish that dream.

Many real estate professionals off guard because of the recent caution among Latino home buyers. According to the 2000 census, in Georgia, home to the second-fastest growing Latino population in the nation, 37% of Latinos are homeowners. The number of homes purchased by Latinos in metro Atlanta jumped from about 3,500 in 1999 to 8,500 in 2004, according to data from the Home Mortgage Disclosure Act.

With Congress deadlocked over national immigration reform, many real estate professionals say that insecurity among Latino homebuyers is not confined to Georgia. According to analysts, if the Latino housing market were to falter it would affect every segment of the housing industry.

By M. Sese
http://realestatepress.org