05/28/2007
A reader recently sent me this link that reports decreasing sales of existing homes and another that reports increasing sales of new homes. Now, what is going on here? Well, I expect a lot of those existing homes are either in areas that are getting a lot of recent immigration(i.e. California) or areas in which economic opportunities are being curtailed via mass immigration.Immigration is a funny thing, short term, it can prop up real estate prices by cramming more people into a given area, but longer terms, those areas get unlivable — and those that can leave(as the case of California shows).
I suspect the recent attempted Kennedy/McCain/Bush immigration expansion is largely an attempt to prop up real estate prices in specific areas like the East Coast, California and South Florida.
This is a content archive of VDARE.com, which Letitia James forced off of the Internet using lawfare.