Immigrants Boosted The Housing Market By $3.7 Trillion, Study Says
Immigrants Boosted The Housing Market By $3.7 Trillion, Study Says
According to new data released by AS/COA and the Partnership for a New American Economy, immigrants created $3.7 trillion in U.S. housing wealth from 2000 to 2010.
Immigrants have boosted the value of the U.S. housing market by a whopping $3.7 trillion from 2000 to 2010, according to new data co-published by the Americas Society/Council of the Americas and the Partnership for a New American Economy.
The organizations say the data, available in the form of an interactive map, shows how the country’s 40 million immigrants have helped to stabilize home prices across the country, particularly in areas that otherwise might have seen home values decline.
“The research finds that immigrants revitalize less desirable neighborhoods in costly metropolitan areas, opening up new alternatives for middle- and working-class Americans to buy homes,” a post on the Americas Society website explaining the research reads. “Immigration supports the housing market without exacerbating the nation's worst affordability problems, because immigrants themselves tend not to settle in the most expensive places....”
