New York magazine admits mass immigration is ‘bad for housing prices’
New York magazine admitted this week that mass immigration to the United States is, in fact, “bad for housing prices” for Americans looking for affordable single-family homes.
The left-leaning publication’s admission comes as years of research have shown the country’s admission of more than a million legal immigrants a year, in addition to millions of illegal aliens, is helping to drive up housing prices for working and middle class Americans.
“Yet housing is a key sector where immigrants are driving demand. People need homes,” New York magazine writer Eric Levitz admitted.
Rather than decrease overall immigration levels, as most Americans would like, Levitz argues that despite mass immigration “bad for housing prices,” the United States should ensure that the immigration of mass “works” by enriching real estate developers with a dismantling of local zoning laws and a construction of multi-family complexes in single-family neighborhoods.
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“In a world of restrictive zoning and housing shortages, the nationalist right’s anti-immigrant narrative reaches a minimum of plausibility: if housing supply is largely fixed, then allow immigrants into your city will reduce the home security of native born,” Levitz writes:
This awareness, however, should not lead us to abandon large-scale immigration, but to facilitate the development of habitat. From an ethical and economic point of view, the United States must increase legal immigration. As our country’s population ages, a declining share of prime-age workers will have to support a growing share of retirees over the coming decades. At the same time, the working-age population of sub-Saharan Africa is expected to grow by 700 million by mid-century and that of Latin America and the Caribbean by 40 million. [Emphasis added]
When housing construction fails to keep up with population growth, massive immigration places a burden on ordinary people. As recent events in New York clearly show, this will create political difficulties even in the most cosmopolitan regions. [Emphasis added]
THE New York Times And the wall street journalboth supporters of mass immigration, have made similar admissions in recent months.
While reporting on Canada’s soaring house prices, the two establishment publications detailed how soaring costs have coincided with the country’s insistence on importing millions of immigrants – who have all need housing.
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“Immigration to Canada is on track to reach an all-time high in 2022, but admission has hit a bottleneck: not enough houses,” said the Log noted in October 2022.
Sen. JD Vance (R-OH) also raised the problem of mass immigration driving up housing prices for Americans, telling Breitbart News that the policy of importing millions of dollars a year is akin to an “economic war”.
Clandestine immigration is pure and simple theft. It steals the wages of American workers and drives up the cost of housing and food for our families. Many in the GOP establishment who yell about illegal immigration in public defend cheap labor in private. https://t.co/PJrZwyj2DR
—JD Vance (@JDVance1) May 10, 2023
“Think of the effects it has on the wages of American workers to have 10 million extra people who shouldn’t be here competing for jobs,” Vance said. “Think of what that does to housing prices, when you have to house 10 million people who shouldn’t be here, it drives up housing costs when interest rates have already skyrocketed.”
“It’s economic warfare and the theft of the American dream from American citizens, that’s the big problem here and that’s why we have to keep fighting it,” he continued.
In 2013, a study of the new American economy funded by Michael Bloomberg, which promotes mass immigration, explained how the import of tens of millions of immigrants over the decades had contributed to increasing housing costs by 3 $.7 trillion for the next generation of homebuyers, but turned the number around. as the creation of “real estate wealth”.
“The 40 million immigrants in the United States represent a powerful buyer class – reflected in their demand for housing, as well as other locally produced goods and services – that bolster home values in communities across the country. “, admitted the study.
John Binder is a reporter for Breitbart News. Email him at email@example.com. Follow him on Twitter here.