Johnny Utah
Well-Known Member
Housing is lacking across the country in the $500k and under segment. Like you noted, people coming over the boarder illegally are not the primary competition for $600k houses, but they are competing for houses below that as well as other programs such as Section 8 and other subsidized housing. After all - where are these people living, they are not all in camps and the schools seemed to have taken back their gyms?
Migrants I was familiar with lived in shacks and barns on the farms they work, in hotels, stacked 10+ in 1 Brs, with family members already here, and the streets. No doubt they are pressuring urban low income housing, but that market is not tied to suburban housing requiring incomes of 200+. No one is going from not getting a section apt to looking at a 400k condo to buy. People who lose out on sec8 end up with a family member or on the streets. There are plenty of arguments for controlling immigration, but telling a 30year old newly wed couple this will fix their housing problem is a divisive lie that plays to their frustration.
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The suburban market, for example, Ocean And Monmouth counties have seen annual population growth of 10% (even in 2024). Over the last four years there has been an exodus of people leaving cities and urban markets. Rents in the city sky rocketed because of lack of supply. Where are all of these immigrants being placed/living? I think the number was almost 10 million encounters during the Biden administration - the country did not have a surplus of housing to accept those people, hence the inflation.