Oklahoma's new immigration law could affect apartment values and sales, by raising the cost of doing business, two brokers and a manager said.
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With the investment property market usually setting prices based on income streams, any rise in operation costs are taken seriously.
•One apartment manager who just paid for a roofing job complained that with so many Hispanics having already left Oklahoma City, the crew he hired was able to double the price for the job, said Jason Thompson, operations manager for D&S Property Management Inc.
"I told him, ‘I guess you're going to have to bite the bullet,'” Thompson said.
Thompson said that was the new labor market at work.
•Apartment employees could become scarce, said William Forrest, broker with CB Richard Ellis-Oklahoma.
"This could raise ownership costs by creating fewer choices for employees such as managers and maintenance technicians, which could create competition for those fewer qualified employees and consequently raise salaries,” Forrest said.
•Checking the legal residency of every rental applicant will be a new expense for any apartment owner or manager who didn't already, said Mike Buhl of Commercial Realty Resources Co. in Norman.
"I don't know that's a huge (expense),” Buhl said. "But verification has to be done. It does have an impact financially.”
Apartments and houses hit hardest will be those with more than a few residents who have fled the state, he said. Ten renters leave a 100-unit apartment complex? That's an automatic 10-percent vacancy that has to be dealt with "in a soft market,” he said.
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I find it interesting that so many people are upset about us trying to help the situation in our state. My father-in-law has owned a bricking company for over 20 years and has nearly been run out of business by "illegals" working those types of jobs. And, yes, that is the norm these days and no one can deny it. I have been to many construction sites and it is not just coincidence that the majority of the workers are Mexicans. Numerous business owners are trying to get rich off of the labor of people who are here ILLEGALLY, and in doing so they are hurting the economy. There are numbers that show that ILLEGAL immigrants send millions of dollars per year to Mexico from money that is earned in the USA. If you think this is innacurate, go to your local grocery store or any place that has a Western Union inside. Any given payday there will be a line of people, the majority of which are Mexicans, in line to send money via Western Union or whatever wire transfer is available. These are the facts and I see it every day of the week no matter where I go in this city. People from this country are willing to do the work but they won't work for next to nothing. Seeing this new immigration law pass makes me very happy. I hope that our state legislature will stand strong against any opposition and get this situation under control.
This may raise the cost to the people who hire them, but it will lowr the cost to the taxpayers of Oklahoma. Oklahoma taxpayers will come out ahead in the end. I would rather pay up front for services than through the I.R.S. Believe me it's cheaper in the end.
Yes I can imagine costs going up especially when you actually have to pay your workers, now we need to cancel wel-fare then there will be plenty of workers. Just say NO! to free money. “It is written if a tree produces no fruit then it should be cut down and cast into the fire”.
OK pass a few laws for foreigners.
1. Foreigners will NOT have the right to vote, no matter how long they are here.
2. There will be no special bilingual programs in the schools, no special ballots for elections, and all government business will be conducted in our language,
3. Foreigners will never be able to hold political office.
4. Foreigners will not be a burden to the taxpayers no welfare no food stamps no health care, nor any other government assistance programs.
5. Foreigners can invest in this country,it must be an amount equal to 40,000 times the daily minimum wage.
6 If foreigners do come and want to buy land, that will be Okay BUT options will be restricted. You are not allowed to own waterfront property. That property is reserved for citizens naturally born in this country.
7. Foreigners may not protest; no demonstrations, or waving a foreign flag, no politlcal organizing, no bad mouthing our president or his policies. If you do you will be sent home.
8. If you do come to this country illegally, you will be hunted down and sent straight to jail.
Do the above laws sound a bit harsh?
They happen to be the immigration laws of MEXICO.
Chris; What you are saying is these parasites will work for less. Give me medical care, paid for by the American taxpayer, food stamps to feed my "anchor babies", (whose delivery was paid for by the American taxpayer) relieve me of the burden of paying out of state tuition for my kids college and uninsured on my car insurance,then I will work for less. Add to this not paying income tax or social security on my under the table pay.
As long as the Americans will pick up these costs for the illegals, immoral business men will continue to hire them and pay under the table. I know of one landscaper from Edmond who has contracts with some sub divisions, who gets top dollar for his work, but has nothing but illegals working for him.I speak Spanish and have spoken to these people. It's no secret they are paid under the table with no with-holding. That also saves the employer his part of social security. If this illegal is working for $12.00 per hour his take home pay is 480.per week + all these perks. Yes I'd work for that and so would the 20 other members of my household.
The advocates for the illegals, tell you Americans won't work for that kind of money. Wrong, wrong, wrong.
Chris - Don't forget the costs to our education system to support bilingual efforts - Don't forget to costs to our prison system for the incarceration of SOME illegals - Don't forget the costs for allowing "anchor" babies that are given citizenship by virtue of their illegal parent(s) crossing the border in time to bear them on U.S. soil.
This article also doesn't mention that I won't have to be footing the bill for the healthcare costs for illegals - nor will I have to pay the costs for other infrastructure they use. I'm sick of hearing people complain about the damn illegals. If you're illegal, go back to your own damn country and fix things there!
Yessssssss...underbidding illegal contractors will hopefully be a thing of the past. I know my friends and I are paying attention to the competition and calling the police and AG's office whenever we spot suspected illegals in apartment complexes these days ...
Yessssssss...underbidding illegal contractors will hopefully be a thing of the past. I know my friends and I are paying attention to the competition and calling the police and AG's office whenever we spot suspected illegals in apartment complexes these days ...
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1. Foreigners will NOT have the right to vote, no matter how long they are here.
2. There will be no special bilingual programs in the schools, no special ballots for elections, and all government business will be conducted in our language,
3. Foreigners will never be able to hold political office.
4. Foreigners will not be a burden to the taxpayers no welfare no food stamps no health care, nor any other government assistance programs.
5. Foreigners can invest in this country,it must be an amount equal to 40,000 times the daily minimum wage.
6 If foreigners do come and want to buy land, that will be Okay BUT options will be restricted. You are not allowed to own waterfront property. That property is reserved for citizens naturally born in this country.
7. Foreigners may not protest; no demonstrations, or waving a foreign flag, no politlcal organizing, no bad mouthing our president or his policies. If you do you will be sent home.
8. If you do come to this country illegally, you will be hunted down and sent straight to jail.
Do the above laws sound a bit harsh?
They happen to be the immigration laws of MEXICO.
As long as the Americans will pick up these costs for the illegals, immoral business men will continue to hire them and pay under the table. I know of one landscaper from Edmond who has contracts with some sub divisions, who gets top dollar for his work, but has nothing but illegals working for him.I speak Spanish and have spoken to these people. It's no secret they are paid under the table with no with-holding. That also saves the employer his part of social security. If this illegal is working for $12.00 per hour his take home pay is 480.per week + all these perks. Yes I'd work for that and so would the 20 other members of my household.
The advocates for the illegals, tell you Americans won't work for that kind of money. Wrong, wrong, wrong.