3 ms·

Totally 100% unrelated and you're not allowed to even think about it: Letting in an unsustainable amount of unvetted migrants illegally enter the country (+ nev

Totally 100% unrelated and you're not allowed to even think about it: Letting in an unsustainable amount of unvetted migrants illegally enter the country (+ never mind the harm that's done to the immigrants that are already here. Never think about that)

mbStavola 3y ago
According to the US census, roughly 3M undocumented people own a home and there are approximately 144M housing units total. So, ~2% of the market is from the undocumented. Additionally, less than half of the entire undocumented population makes more than $28k a year. So you're right, it is totally, 100% unrelated. Otherwise you're making a claim that one of the poorest demographics in the US with the least amount of home ownership is somehow responsible for a massive price spike in housing over the last few years.
- Veliladon 3y ago
  To be fair all those rich private equity firms who have been buying up real estate and driving up the prices to insane degrees are impossible to fight back against as an individual while shitting on illegal immigrants and any other underclass at least gives an illusory sense of self-superiority and control over the situation.
  - rayiner 3y ago
    [flagged]
- ROTMetro 3y ago
  Not an economist, what type of impact does the 2% increase in demand that you demonstrated do to pricing in an inelastic constrained market? Also, most of the remaining 11.3 million undocumented still occupy housing. So out of 340 million Americans 35% don't own property leaving around 119 million non-home owners. With 8.3 million undocumented not owning homes per your numbers, undocumented are adding approx. 7% to the needed rental market. Again, what does that increased demand do to housing pricing in a relatively inelastic constrained market? I'm personally for more open borders but I'm also for being honest about what that means including increased housing stocks.
  - lesuorac 3y ago
    > Otherwise you're making a claim that one of the poorest demographics in the US with the least amount of home ownership is somehow responsible for a massive price spike in housing over the last few years. If there are 10 houses and 12 people. The houses will go to the 10 highest paying people and so the 2 poorest immigrants will be left in the rain. The problem is not that we now have 10 houses and 15 people (3 from immigration) it's that there's 8 houses now [1]. [1]: https://www.fanniemae.com/research-and-insights/perspectives/us-housing-shortage https://www.fanniemae.com/research-and-insights/perspectives...
    - Xorakios 3y ago
      That is correct of course, but the US federal housing insurers are understandably shy about talking about their contribution to the problem. Especially after 2008 almost all house valuations in the US are based on square footage and number of bathrooms. So bigger houses and more plumbing is the only way to make money as a developer.
- Xorakios 3y ago
  Since it's illegal in the US for undocumented people to get federal guaranteed home loans, please supply a reference for that. The latest available US census data for rentals is here, and in many use cases rentals drive home sale prices more than the reverse: https://www.dhs.gov/sites/default/files/publications/immigration-statistics/Pop_Estimate/UnauthImmigrant/unauthorized_immigrant_population_estimates_2015_-_2018.pdf https://www.dhs.gov/sites/default/files/publications/immigra...
  - dragonwriter 3y ago
    > Since it's illegal in the US for undocumented people to get federal guaranteed home loans No one made a claim about federally guaranteed home loans except you, and you can’t transfer a claim from home loans in general to federally guaranteed home loans, because the latter are only about half of the former. And actually the claim wasn’t even about home loans to start with, but about home ownership.
rayiner 3y ago
You’re allowed to talk about it.

mbStavola 3y ago

According to the US census, roughly 3M undocumented people own a home and there are approximately 144M housing units total. So, ~2% of the market is from the undocumented. Additionally, less than half of the entire undocumented population makes more than $28k a year. So you're right, it is totally, 100% unrelated. Otherwise you're making a claim that one of the poorest demographics in the US with the least amount of home ownership is somehow responsible for a massive price spike in housing over the last few years.

Veliladon 3y ago
To be fair all those rich private equity firms who have been buying up real estate and driving up the prices to insane degrees are impossible to fight back against as an individual while shitting on illegal immigrants and any other underclass at least gives an illusory sense of self-superiority and control over the situation.
- rayiner 3y ago
  [flagged]
ROTMetro 3y ago
Not an economist, what type of impact does the 2% increase in demand that you demonstrated do to pricing in an inelastic constrained market? Also, most of the remaining 11.3 million undocumented still occupy housing. So out of 340 million Americans 35% don't own property leaving around 119 million non-home owners. With 8.3 million undocumented not owning homes per your numbers, undocumented are adding approx. 7% to the needed rental market. Again, what does that increased demand do to housing pricing in a relatively inelastic constrained market? I'm personally for more open borders but I'm also for being honest about what that means including increased housing stocks.
- lesuorac 3y ago
  > Otherwise you're making a claim that one of the poorest demographics in the US with the least amount of home ownership is somehow responsible for a massive price spike in housing over the last few years. If there are 10 houses and 12 people. The houses will go to the 10 highest paying people and so the 2 poorest immigrants will be left in the rain. The problem is not that we now have 10 houses and 15 people (3 from immigration) it's that there's 8 houses now [1]. [1]: https://www.fanniemae.com/research-and-insights/perspectives/us-housing-shortage https://www.fanniemae.com/research-and-insights/perspectives...
  - Xorakios 3y ago
    That is correct of course, but the US federal housing insurers are understandably shy about talking about their contribution to the problem. Especially after 2008 almost all house valuations in the US are based on square footage and number of bathrooms. So bigger houses and more plumbing is the only way to make money as a developer.
Xorakios 3y ago
Since it's illegal in the US for undocumented people to get federal guaranteed home loans, please supply a reference for that. The latest available US census data for rentals is here, and in many use cases rentals drive home sale prices more than the reverse: https://www.dhs.gov/sites/default/files/publications/immigration-statistics/Pop_Estimate/UnauthImmigrant/unauthorized_immigrant_population_estimates_2015_-_2018.pdf https://www.dhs.gov/sites/default/files/publications/immigra...
- dragonwriter 3y ago
  > Since it's illegal in the US for undocumented people to get federal guaranteed home loans No one made a claim about federally guaranteed home loans except you, and you can’t transfer a claim from home loans in general to federally guaranteed home loans, because the latter are only about half of the former. And actually the claim wasn’t even about home loans to start with, but about home ownership.

rayiner 3y ago

You’re allowed to talk about it.