Georgia Law Slows Booming Latino Housing Market

"Almost immediately, Latino home buyers pulled out of contracts. Some who had already bought, put their homes on the market. And many prospective buyers stopped searching for homes.

Although Georgia's new legislation does not prohibit illegal immigrants from owning property, many wonder whether they will want to live in Georgia when it begins to come into effect in July 2007...

But a $150,000 suburban ranch with a big yard is no longer as appealing to those who fear they — or their loved ones — could lose their jobs...not all of the Latino immigrants who are uncertain about investing in Georgia property are illegal...

With Congress deadlocked over national immigration reform, many real estate professionals say that insecurity among Latino home buyers is not confined to Georgia."