Now hold on a minute there, Fox News! Let's not ignore a key detail of this study: "The paper, published by the Federal Reserve Bank of Dallas, combines immigration court records with government administrative data to measure how the unprecedented wave of illegal immigration between 2021 and 2024 affected local labor and housing markets." So a 2.2% increase in home prices attributed to immigration over a three year period = a .73% annual increase. Likewise, a 1.4% increase in rent prices over the same three years = a .46% annual increase. The numbers were paltry and insignificant to begin with, but when you recalculate for the annual effect, they are probably more likely due to the statistical margin of error than anything else. Which would mean that immigration does not impact on home or rent pricing. Meanwhile over at Harvard University, a recent study of the same issue found the opposite - that the uptick in immigration to the U.S. in the same time period "does not lineup with the substantial increase in home prices and rents of recent years." So how to explain the increase in housing costs? -a historically large millennial generation reaching prime homebuying age in this period -pent-up demand for housing after the dampening effect of the 2009 recession -the increased demand for homes with more space as more and more people have been working from home -historically low mortgage interest rates vs. the constrained housing supply Funny how the study Fox News reported on missed all that huh? Also funny how Fox News didn't report on the Harvard University study, isn't it?
Even if that first report was right and immigrants were responsible for a 2.2% increase in housing prices and a 1.4% increase in rents WHAT'S RESPONSIBLE FOR THE VAST, VAST MAJORITY OF THE PRICE INCREASES??? Massive corporations buying up huge swathes of residential housing maybe, so people looking to get a home are competing against them? Blackstone owns 300,000 homes, making them the largest landlord in America. Starwood Property Trust increased rent by 30% or more at some of its thousands of properties in 2022 and saw its net income skyrocket by 115% to more than $1 billion—$591 million of which it spent on dividend payments to shareholders. AMH and Tricon Residential credited their “pricing power” and “strong rent growth” for helping them secure $310 million and nearly $780 million in net income in 2022, respectively - the same period covered by the studies mentioned above. The former company recorded a 47% increase while the latter’s income grew by 70%. People hoarding homes by buying them up and then letting them sit vacant? The 16 million vacant homes in the U.S. right now = 28 vacant homes for every single homeless American. The plague of long-term housing being gobbled up for short-term vacation rentals? This Canadian study found that every 1% increase in Airbnb units in a city, rents in that city went up 2.3%. GEE FEDERAL RESERVE BANK OF DALLAS, THAT'S WAY MORE THAN YOUR CLAIMED RENTAL EFFECT OF IMMIGRANTS!!! There is no amount of immigrants you can forcibly deport or bar from entering your country that will solve the problems created by capitalism.













