Monday, July 16
Here's what the director of the Joint Center for Housing Studies at Harvard University has to say about housing and immigration
Picture and article via HousingPANIC blog
(interesting display of comments at end of post)
The New Homeowner
By Nicholas P. Retsinas
CONGRESS, presidential candidates, and lots of Americans may be giving a tepid welcome to the immigrants settling into America's neighborhoods -- some illegally, most legally. But the housing industry should be sending a welcome wagon. And every baby boomer hoping to sell his home in the next decade should be embracing these newcomers, for they will constitute an increasing segment of the home-buying, apartment-renting market. According to University of Southern California demographer Dowell Myers, immigrants and baby boomers must "forge a new social contract."
The Garcias and Nguyens are buoying the housing industry........
Forecasting the impact of immigration does not require a crystal ball -- merely an actuarial table. The current statistics are compelling. The nation's sharp increase in immigration over the last decade will shape and define the housing market for the next decade -- and beyond. Welcome to my open house.
Read the entire article: here
So, what's your take on this?