Heritage Foundation
·
Published
July 12, 2024

Why an Open Border Means More Expensive Housing

Conservative
Commentary
·
Immigration
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Summary

  • EJ Antoni at Heritage Foundation argues that the influx of millions of illegal aliens into the United States over the last 3½ years has significantly increased housing demand, leading to skyrocketing home prices as basic economics dictate that increased demand raises prices.
  • The article asserts that while many blame the housing crisis on government overspending and interest rate manipulation, few recognize the role of open-border policies in escalating home prices, highlighting that curbing illegal immigration is necessary for housing market stabilization.

Overview:

This article was written by EJ Antoni at Heritage Foundation and highlights the following key insights:

  • The surge in illegal immigration over the past 3½ years has significantly increased housing demand in the United States.
  • To stabilize the housing market, the entry of illegal aliens must be curtailed.

Key Quotes:

  • "Anyone who thinks you can explode the demand for housing by 80% to 100% and not cause prices to go through the roof is delusional."
  • "If Americans want their housing market to stabilize, the flood of illegal aliens across the southern border must cease."

What They Discuss:

  • The current housing affordability crisis is partially attributed to government overspending and manipulation of interest rates.
  • The influx of millions of illegal aliens has exacerbated housing demand, particularly in states that provide additional housing assistance to illegal aliens.
  • Neel Kashkari, president of the Federal Reserve Bank of Minneapolis, acknowledges that increased housing demand raises prices—aligning with basic economic principles.
  • The article disputes claims that illegal aliens have driven down housing prices by working in residential construction, noting a lack of empirical evidence to support this notion.
  • The influx of illegal aliens under the Biden administration has elevated housing demand, comparable to doubling the populations of entire states like Georgia or North Carolina.

What They Recommend:

  • Halt the influx of illegal immigrants to mitigate increased housing demand.
  • Enforce existing laws to remove those who have entered the country illegally.
  • Prioritize American citizens in the formulation and implementation of housing policies.

Key Takeaways:

  • The significant increase in housing demand due to illegal immigration has contributed to rising housing prices.
  • For housing market stabilization, it is crucial to control and reduce illegal immigration.
  • The radical left's open-border policies are seen as a significant factor in inflating housing costs, alongside government fiscal policies.
  • Addressing the issue requires both halting the influx and removing those already in the country illegally to restore market balance and uphold the rule of law.

This is a brief overview of the article by EJ Antoni at Heritage Foundation. For complete insights, we recommend reading the full article.

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Original Read Time
9 min
Organization
The Brookings Institution
Category
Israel-Gaza War
Political Ideology
Center Left

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