Home Prices & Immigration

Have we ever seen a time in our country’s recent history where we are all so divided? Some would argue yes, others argue no. Right now a great amount of the divide is due to immigration and the economy. It’s not as simple as it sounds because it’s a complex issue with many factors attached. One aspect of immigration to think about would be national security. Immigrants from some parts of the world are more of a concern to national security than the immigrants who move for economic purposes.

2016 wasn’t the best year America has seen. Wages didn’t move, jobs were lost to globalization and new age technology, all while we bickered with one another about how many immigrants we should be letting in.

It’s often discussed that there’s a tradeoff among our wallets, all inclusive ideal society, and the actual affect on the economy throughout the years. 353 cities with immigrant populations across the country from Hunting, WV, to Miami, FL can shine a little light on how the immigration has been.  

The correlation between the immigrant population and the home price appreciation was shocking. The more of an immigrant population a city has the higher the home prices. The U.S. Census Bureau data on immigration and home prices show that in 20 metropolitan areas with the highest amount of appreciation also had an immigration population of at least 20%. Surprisingly, the cities with the lowest appreciation also had immigration population of less than 5%.

Obviously home prices aren’t the only factor in determining economic wealth considering most of America couldn’t buy a house during the past 8 years.

It’s nearly impossible for cities to grow and thrive if they don’t see home price appreciation. Any economist who studies the relationships between government policy, home affordability, and local economies will tell you there is always prosperity when home prices rise, and it’s highly unlikely that prosperity won’t follow when they do rise.

 

Discussion

#1 Posted by Zeeshan Ahmed at 3/3/2017 6:43 AM
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