Americans are suffering from Joe Biden's immigration policy
The immigration crisis caused by the US president's policies is raising the costs that average Americans and their grown children must pay for housing.
The brutal wave of migration keeps the housing costs sky high, which is a complaint voiced foremost by investors, but also by ordinary citizens. All of this is a direct consequence of US President Joe Biden and his migration policy, people believe. The Wall Street Journal reports that rising immigration is preventing housing purchase prices and rents from falling, which is especially painful for people in the midst of an inflation crisis.
According to some surveys, a one per cent increase in migration means an average three per cent increase in housing costs.
In the United States, home price inflation was by far the biggest contributor to inflation in March 2023, economist Kathy Jones tweeted. The graph she tweeted shows the dominant share of housing inflation in dark blue:
Here ‘s a breakdown showing shelter was by far the biggest contributor. pic.twitter.com/DY0Q441eUR
— Kathy Jones (@KathyJones) March 14, 2023
In Columbia, Tennessee, the situation has deteriorated to such an extent that tenants are organizing after rents have skyrocketed in recent years, causing more and more people to become homeless, reports Breitbart, which reviewed a USAToday.com article. Those who are still able to pay rent also live in fear every day that they will soon be evicted.
The high cost of urban housing keeps many young Americans in rural communities, while migrants and their children are forced into urban housing. This process ensures that migrants and their children receive the economic opportunities of urban life that would otherwise go to the children of Americans, says pro-immigration academic Leah Boustan.
„What’s more, no matter which country their parents came from, children of immigrants are more likely than the children of the U.S.-born to surpass their parents’ incomes when they are adults,”
– the economic historian wrote in a previous article.