Several things. Unrestricted illegal immigration through our completely open border during the Bush and Biden years put dramatically more demand on our system. Corporate and private investment added to that pressure. COVID and the related emergency spending and shutdowns rapidly increased the cost of new construction. I don’t know how many of you needed to buy wood in that time frame, but the cost quadrupled.
The rules of supply and demand are still king in the market, and in a relatively short period of time we ramped up demand and increased the scarcity and cost of new supply. I read earlier today about a study that showed rents have gone down in areas that ICE has targeted. I know that isn’t a popular reality for many on Lemmy but whatever.
Yeah. Fuck it. Let’s blame immigrants. Any ol’ port in a storm to avoid acknowledging the role of commodified housing and bipartisan neoliberalism for forty fuckin years amirite?
Supply and demand mean nothing in the market unless someone can use them as an excuse to price gouge. That goes dou ly for housing. Build hundreds of new units every month and rents still don’t fall, because landleeches know that “every seller in the market wants too much, I’ll do without until prices fall” isn’t a valid choice for housing.
I read earlier today about a study that showed rents have gone down in areas that ICE has targeted.
Go ahead and drop a link to that study here, we’ll all disembowel it for you and have a good laugh at how gullible you’d have to be to attribute it to fewer immigrants and not to the massive loss in desireability for a neighborhood where masked secret police are disappearing neighbors in the middle of the night.
Ah, yes, illegal immigrants with their high paying jobs buying up all the houses. Even assuming rent goes down when you remove tenants from an area (supply and demand, because how do you convince people to move into the path of the brown shirts) the question is about HOME prices. Rents are impacted by home prices, yes, but after the cost of permitting and materials, it’s ‘cheaper’ to build a second floor and raise the price by $200k than it is to build affordable homes - meanwhile the cost of smaller homes has exploded because venture capital buys them up for rentals.
If that study had any legs, or you any confidence in it, you would’ve linked it in the first place.
Quite probably the dumbest post I’ve read. But yeah, blame immigrants with demonstrably false talking points and covid (which was so pants-shittingly mishandled by the folks whose talking points you’re utilizing). None of this factors into the drastic increase in home prices over a period of time in which wages have stagnated. Somehow this is probably Obamas fault too… read a book ya mook.
I also know that if law enforcement locked up the business owners and executives who hire these “illegals”, then they wouldn’t have a reason to come here in the first place. Guess what? There’s a reason why that has never happened and there is a reason why none of what you said is the actual cause of income inequality. You could make an argument against H1Bs or outsourcing since those programs and business decisions actually affect high earning jobs…
11-15% of foreign born individuals own homes in the US.
Half of that group has naturalized as citizens.
So you are telling me some even smaller portion of the 7% of home ownership that is illegal immigrants is the cause of a housing crisis nationwide where universally we see increases in home pricing?
Several things. Unrestricted illegal immigration through our completely open border during the Bush and Biden years put dramatically more demand on our system. Corporate and private investment added to that pressure. COVID and the related emergency spending and shutdowns rapidly increased the cost of new construction. I don’t know how many of you needed to buy wood in that time frame, but the cost quadrupled.
The rules of supply and demand are still king in the market, and in a relatively short period of time we ramped up demand and increased the scarcity and cost of new supply. I read earlier today about a study that showed rents have gone down in areas that ICE has targeted. I know that isn’t a popular reality for many on Lemmy but whatever.
Yeah. Fuck it. Let’s blame immigrants. Any ol’ port in a storm to avoid acknowledging the role of commodified housing and bipartisan neoliberalism for forty fuckin years amirite?
Supply and demand mean nothing in the market unless someone can use them as an excuse to price gouge. That goes dou ly for housing. Build hundreds of new units every month and rents still don’t fall, because landleeches know that “every seller in the market wants too much, I’ll do without until prices fall” isn’t a valid choice for housing.
Go ahead and drop a link to that study here, we’ll all disembowel it for you and have a good laugh at how gullible you’d have to be to attribute it to fewer immigrants and not to the massive loss in desireability for a neighborhood where masked secret police are disappearing neighbors in the middle of the night.
Ah, yes, illegal immigrants with their high paying jobs buying up all the houses. Even assuming rent goes down when you remove tenants from an area (supply and demand, because how do you convince people to move into the path of the brown shirts) the question is about HOME prices. Rents are impacted by home prices, yes, but after the cost of permitting and materials, it’s ‘cheaper’ to build a second floor and raise the price by $200k than it is to build affordable homes - meanwhile the cost of smaller homes has exploded because venture capital buys them up for rentals.
If that study had any legs, or you any confidence in it, you would’ve linked it in the first place.
Quite probably the dumbest post I’ve read. But yeah, blame immigrants with demonstrably false talking points and covid (which was so pants-shittingly mishandled by the folks whose talking points you’re utilizing). None of this factors into the drastic increase in home prices over a period of time in which wages have stagnated. Somehow this is probably Obamas fault too… read a book ya mook.
I also know that if law enforcement locked up the business owners and executives who hire these “illegals”, then they wouldn’t have a reason to come here in the first place. Guess what? There’s a reason why that has never happened and there is a reason why none of what you said is the actual cause of income inequality. You could make an argument against H1Bs or outsourcing since those programs and business decisions actually affect high earning jobs…
11-15% of foreign born individuals own homes in the US.
Half of that group has naturalized as citizens.
So you are telling me some even smaller portion of the 7% of home ownership that is illegal immigrants is the cause of a housing crisis nationwide where universally we see increases in home pricing?
Ok.