Dallas home prices drop as Trump’s H1-B visa crackdown triggers correction

In Dallas, Indian workers on H-1B visas have once lit the Dallas home prices on fire, but now a large portion of them are gone without more coming to replace them, and a correction is taking place where the supply does not reach the demand of housing, per the New York Post.

According to CBRE, the real estate market has seen a boom with a wave of Indian-born H-1B visa holders. However, the escalating crackdown on H-1B visas, which allows for high-skilled workers to temporarily come to the US, has slowed down the flow of workers and thereby the supply of housing in the area.

At the same time, during the first months of the year, there have been over 52,000 tech sector jobs cut. By the time summer has rolled around, that tech industry job cut has gone over 123,000 as businesses have been implementing AI into their sector.

Collin County, which has been a suburban center of where the boom in housing took place, has seen housing fall 9 percent over the last year as of February. The drop in price was more than double what was seen in the greater Dallas-Fort Worth area.

During the Biden administration, there were 32,000 H-1B visas granted to the Dallas-Fort Worth area. That overcame the number of visas that were meant for Silicon Valley, Seattle, San Francisco, as well as Washington, DC, per Bloomberg.

Subdivisions such as Prosper, Frisco, and Celina in the Dallas area saw the population triple in just five years, but that is changing now.

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