Can you say, conflict of interest!!! and believe it!!!
Christina Aguayo News
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#New The Judge Who Ruled The Trump Administration Can't Arrest Illegal Migrants Without A Warrant, Reportedly Has A Husband Whose Business Depends On Illegal Migrants
Marc A. Thurston - who is reportedly Judge Jennifer Thurston's Husband - is a real estate broker in California who makes money off the illegal migrant community.
He says President Donald Trump's deportations are bad for real estate brokers like himself.
Marc Thurston, Senior Vice President at ASU Commercial, specializes in Bakersfield’s multifamily real estate market.
Marc Thurston says that that deportations of “undocumented immigrants” would harm the local rental market in Bakersfield, impacting his business,
"And policies of the United States are going to be changing. So how will this impact real estate? Central Valley of California roughly 10 to 30% of the labor that works in new construction is undocumented. . But the other factor that nobody's talking about is what happens to all of those laborers that currently rent apartment units or rent houses. So in the agricultural world, in the Central Valley, that is upwards of 50% of the employment."
"So this could result in upwards of 9500 people being displaced out of their rentals. So as a landlord, you could be in neighborhoods that would see a spike in vacancy. Who is going to backfill those units and how long is that going to take? You need to be very proactive on staying on top of your rent and addressing the needs of your residents in order to keep them happy."
"Prepare to pivot quickly. If you end up getting vacancy due to tenants who have been relocated out of the country, local community that the immigration services are starting to crack down on undocumented workers in the Central Valley. And I know in Bakersfield, there are approximately 15,000 undocumented workers just in the agriculture and construction industries alone. And we also know that a large majority of these people rent, and they tend to have multiple roommates."
"And so even if we take 7500 units that are occupied by those 15,000 people, if those units were to go vacant, that would have a pretty significant impact on our local economy. So this is an issue that the Central Valley of California, as well as the Salinas Valley up near Monterey, need to pay very close attention to moving forward."
"There's a lot happening in the Bakersfield multifamily market, and if you're investing, you need to pay attention. Recently, school attendance dropped after a major immigration sweep. Why does that matter? Because schools receive funding based on attendance, and when that funding drops, it impacts the overall economy. On the surface, the market looks strong. Values were up 10%. But here's the catch."
"That growth came from new properties. And resale properties were actually flat last year. We also saw three large multifamily sales last year, which accounted for almost 40% of the entire sales. And those numbers alone skew everything. Vacancy rates are up. Values are softening. And if immigration policies continue to change, that could really impact demand for rentals. So what does this all mean."
"Rent prices could go down. That's not always a good thing because a slow market could follow six months from now. There might be even better opportunities, but if you know where to look, there are still great deals today."
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