The article relates: "The 'easing' of rental prices coincides with a slowdown of illegal and legal immigration to the United States, the Wall Street Journal admits."
The Wall Street Journal piece, titled “Renters Have the Upper Hand. And They Are Probably Keeping It,” details rent prices dropping across the United States as the market is tilted toward renters rather than landlords.
Immigration, the Journal admits, has played at least some role in rent dropping, as less demand has decreased housing prices[.]
The article continues:
Decades of research have shown the correlation between mass immigration and skyrocketing housing costs.
Last year during a congressional hearing, Center for Immigration Studies Director of Research Steven Camarota told Congress that “a 5-percentage-point increase in the recent immigrant share of a metro area’s population is associated with a 12-percent increase in the average U.S.-born household’s rent, relative to their income.”
“Adding very large numbers of people to the country must significantly impact housing prices by driving up demand for rental properties … the Census Bureau reports that the increase in rents in 2023 was by far the largest in the past decade,” Camarota said.
In 2013, a study by the Michael Bloomberg-funded New American Economy, which promotes mass immigration, explained how the importing of tens of millions of immigrants over decades had helped raise housing costs by $3.7 trillion for the next generation of homebuyers, but spun the figure as the creation of “housing wealth.”
Most of our problems are downstream of unrestricted immigration.
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