With housing prices out of reach for many immigrants in the U.S., more and more are investing in houses in their home countries -- and their governments and local lenders are doing all they can to encourage it.
"It is the American dream in reverse: Arias is part of a growing contingent of immigrants who are gobbling up real estate in their native countries, discouraged by high housing prices and foreclosures in the United States and enticed by the possibility of returning home to a better life than the one they left behind."
"Developers from countries such as El Salvador, the Dominican Republic, Mexico, and Peru are increasingly courting immigrants at housing fairs across the United States, including two events in Massachusetts in the last few weeks. Thousands of immigrants are buying homes in their native countries every year, and more private lenders and some governments are offering financing to sweeten the deal."
"Often, they cannot qualify for mortgages because they live in the United States, so they send money to relatives who oversee construction of a home. Even when immigrants qualify for loans, he said, interest rates are often prohibitively high."
"In recent years, though, more real-estate developers, private lenders, and governments are making it easier for immigrants to buy homes directly, according to government officials and the Inter-American Development Bank in Washington. The Dominican Republic's government is allowing immigrants to apply for up to $10,000 in aid for down payments. In Mexico, mortgage lender Su Casita had loaned about $66 million in mortgages to 1,420 Mexican immigrants in the United States as of early last year."
FULL STORY: American dream goes global

Planetizen Federal Action Tracker
A weekly monitor of how Trump’s orders and actions are impacting planners and planning in America.

Chicago’s Ghost Rails
Just beneath the surface of the modern city lie the remnants of its expansive early 20th-century streetcar system.

Amtrak Cutting Jobs, Funding to High-Speed Rail
The agency plans to cut 10 percent of its workforce and has confirmed it will not fund new high-speed rail projects.

Ohio Forces Data Centers to Prepay for Power
Utilities are calling on states to hold data center operators responsible for new energy demands to prevent leaving consumers on the hook for their bills.

MARTA CEO Steps Down Amid Citizenship Concerns
MARTA’s board announced Thursday that its chief, who is from Canada, is resigning due to questions about his immigration status.

Silicon Valley ‘Bike Superhighway’ Awarded $14M State Grant
A Caltrans grant brings the 10-mile Central Bikeway project connecting Santa Clara and East San Jose closer to fruition.
Urban Design for Planners 1: Software Tools
This six-course series explores essential urban design concepts using open source software and equips planners with the tools they need to participate fully in the urban design process.
Planning for Universal Design
Learn the tools for implementing Universal Design in planning regulations.
Caltrans
City of Fort Worth
Mpact (founded as Rail~Volution)
City of Camden Redevelopment Agency
City of Astoria
City of Portland
City of Laramie