When saying that a 1% increase in population results in a 1% increase in rents does that also apply to specific cities? When a country takes on immigrants often those immigrants go disproportionately to major hubs. If the USA takes 1% as immigrants that could be 3.5m people. If 10% of immigrants go to New York that could be 350k additional people in New York or +4% which could cause rent inflation of 4% per year (independent of currency inflation) which is catastrophic. What do people think about this?
And if you had listened to what Alex had to say shortly after the 1% figure, what you’d have found out is that gratuitous zoning restrictions and artificial supply restrictions are what’s driving up the cost of housing with or without immigrants. Reforming these restrictions could very easily offset the increased cost. Austin and Houston, major hubs of immigration, literally did this.
When saying that a 1% increase in population results in a 1% increase in rents does that also apply to specific cities?
When a country takes on immigrants often those immigrants go disproportionately to major hubs. If the USA takes 1% as immigrants that could be 3.5m people. If 10% of immigrants go to New York that could be 350k additional people in New York or +4% which could cause rent inflation of 4% per year (independent of currency inflation) which is catastrophic. What do people think about this?
And if you had listened to what Alex had to say shortly after the 1% figure, what you’d have found out is that gratuitous zoning restrictions and artificial supply restrictions are what’s driving up the cost of housing with or without immigrants. Reforming these restrictions could very easily offset the increased cost. Austin and Houston, major hubs of immigration, literally did this.
Didnt watch, is this pro immigration or pro open borders
Hi