The National Observer: Real Estate: CRE industry outlook for the rest of 2025

Article originally posted on Phoenix Business Journal on June 20, 2025

President Donald Trump’s mass deportations could carry a $275 billion price tag for California’s economy.

That’s according to a recent analysis by the research arm of the Bay Area Council. It also estimated deportations could result in lost tax revenue totaling $23 billion annually at the local, state and federal level.

While issues like immigration are extremely multifaceted and certainly can’t (or shouldn’t) be looked at through the economic lens exclusively, those are worthwhile numbers to consider. We already know immigrants make up a significant share of the workforce of industries like construction, and while it’s tough to know how many of those workers are undocumented immigrants, it’s safe to say those industries — already facing big labor shortages — will be hit hard if deportations happen at a rate expressed by the president.

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