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Do immigrants drive up property prices?

Mars October 18, 2024

Is the influx of migrants across the U.S. southern border responsible for the country’s housing shortage? Donald Trump and JD Vance think so. Many experts disagree.

Trump, Vance say housing cost is ‘reason to crack down on immigration,’ said Reuters. Immigration is “driving up housing costs,” Trump said at a rally in Arizona. This combines the former president’s top issue with voters’ concerns: Polling shows housing costs are the electorate’s second-largest economic concern. It’s “basic supply and demand,” added Kari Lake, the Republican candidate for Arizona Senate.

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“Immigrants are people who want a roof over their heads,” said Alex Nowrasteh for the Cato Institute. Housing supply is “inelastic”, largely due to government regulations such as zoning and urban growth limits, meaning that migrants create higher demand which will generally “drive up prices and quantity of housing”. The best solution? The government should “get out of the way,” Nowrasteh said, and allow housing supply to easily increase when demand increases. Until then, “it’s safe to say that immigrants are driving up U.S. real estate prices.”

“Corporate greed is the real culprit,” Jessica Washington said at a news conference. The interception. “Business owners” and developers have used lax regulations and algorithm-driven tools to “raise rents, take housing away from working families, and prevent tenants from demanding reasonable changes to our housing system ” said Alia Trindle of Right to the City Action. The housing crisis is the result of “long-standing systemic problems,” not migration.

The mass deportations advocated by Trump “would lead to a widespread economic downturn,” said Aaron Reichlin-Melnick of the American Immigration Council. MSNBC. The impact would be concentrated in sectors like construction. Wouldn’t these workers simply be replaced by American citizens? “The data suggests that’s not true,” Reichlin-Melnick said. The industry already suffers from a labor shortage, even though it pays high wages. Evictions would mean “business closures and fewer construction jobs, period.”

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