Texas Construction Companies Getting Hit Hard After Ice Takes Their Workers
I read the comments and know that many of you do not want us to use FAFO anymore, even though I think it is THE Word Of The Year.
So, I will try not to use it in this post, even though IT REALLY APPLIES because it is Texas. Construction. Business owners. Very upset. About ICE. Deporting. THEIR OWN WORKERS.
Anyhow, here is the story. The Texas Tribune is reporting that ICE arrests - reportedly as high as 9,100 in South Texas alone - have created a domino effect, forcing construction projects to slow, or even stop, due to a lack of work. In some cases, workers are just too afraid to show up at work, fearing an ICE sweep at their job site. In other cases, workers have already been deported, leaving the job sites short staffed.
What does this mean for Texas home buyers in this Trump loving state? Higher housing prices and higher costs for home repairs, landscaping and maintenance.
Data backs up these concerns, with information from the Federal Reserve of Dallas showing a "5% drop in construction jobs during the third quarter of this year, the single largest dip in jobs in the region."
Almost 400 people attended a public meeting hosted by the South Texas Builders Association to discuss the situation. It was attended by people who worked in all areas of construction, including concrete, lumber, real estate, and lending. A few elected officials even attended.
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