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It’s just so weird.
The lowest birth rates in recorded history, more and more adults living with their parents well into their twenties (and thirties, and forties). Yet somehow, the construction industry can’t keep pace with housing demand, so home prices are still sky-high.
It wouldn’t have anything to do with the completely wide-open southern border, would it? I mean, not all of the “migrants” are clustering in filthy tents along the streets of downtown El Paso or McAllen or Brownsville. Nor are all the “refugees” getting taxpayer funded three-hots-and-a-cot in the formerly desirable hotels of Chicago’s Loop or Manhattan’s Upper East Side. And we know that the NIMBY Stepford Wives of Karen’s Vineyard won’t lift a finger to help them.
So where are they going? Is it possible they’re putting a strain on working-class housing (the only stuff they can hope to afford), while the native-born population (who should have first dibs at this housing) are forced to stretch their meager paychecks to the next tier of housing? And then causing further strain on demand as forces demand to new chokepoints upward in home value? I mean, how can a construction industry expect to keep pace with demand when there’s no good means of tracking all the “displaced people” pouring in, making a mockery of an already generous and charitable immigration system?
Again, very weird that we’re getting this spike in demand and prices since 2021. I guess we’ve just gotta keep blaming COVID–otherwise we’re xenophobic. Oh well.
Look at the number of houses being bought by real estate investors in the hot places and look at the price range they’re after.
I think that will answer your question.
Every single study that uses data would show your above hypothesis to be incorrect.
“ Institutional investors may control 40% of U.S. single-family rental homes by 2030, according to MetLife Investment Management.”
https://www.cnbc.com/2023/02/21/how-wall-street-bought-single-family-homes-and-put-them-up-for-rent.html
You are so off base with no data or proof to back up what you say that there is no other justification for your opinion other than your are (you called it) xenophobic.