How H-1B Restrictions Popped Dallas’ Housing Bubble

For more than a decade, the towns north of Dallas, Texas – places like Frisco, Prosper and Celina – have seen an unprecedented housing boom, thanks in part to Indian workers drawn by skilled tech jobs and employers who sponsored their H-1B visas. But in the past year, the market for these houses has fallen and some of Texas’ biggest boomtowns have gone bust. On today’s Big Take podcast, US housing reporter Prashant Gopal and host Sarah Holder unpack the forces underpinning a growing real estate crisis in Dallas-Forth Worth. They examine how changes to the H-1B visa program forced some residents to rethink their futures and what the dramatic pull back could mean for some of the newest suburbs. This episode contains mention of suicide. If you or someone you know is having thoughts of suicide or self-harm, a global list of help lines is available at blog.opencounseling.com/suicide-hotlines/ We have a special Bloomberg subscription offer for podcast listeners at Bloomberg.com/podcastoffer. Hosted by Sarah Holder; Produced by Rachael Lewis-Krisky; Reported by Prashant Gopal and Tanaz Meghjani; Edited by Jeffrey Grocott. Fact-checking by Laura Newcombe; Engineering by Alex Sugiura. Senior Producer: Naomi Shavin; Deputy Executive Producer: Julia Weaver. Executive Producer: Nicole Beemsterboer. See omnystudio.com/listener for privacy information.