President Joe Biden has imposed a huge immigration tax on young Americans’ housing costs, but his docile media allies are hiding the evidence.
“Housing shortages, inflation and high interest rates are squeezing renters across the country and crowding out would-be homebuyers.” The Washington Postt told the reader May 28th, “Rising rents and home prices could have a decisive effect in the 2024 election.”
of The New York Times To the reader same On May 27th, he ran a vague headline on the topic of not blaming Biden on immigration: “America’s Housing Affordability Crisis.”
President Biden is concerned about the rising cost of housing…Tens of millions of families in Republican and Democratic states are struggling with rent and home affordability due to a long-standing housing shortage.
But senior bankers, tax collectors and business publications all agree: migration creates a surge in demand for housing, spurring inflation and raising interest rates, making it harder for Americans to rent or buy a home.
Neel Kashkari, president of the Federal Reserve Bank of Minneapolis, Said On May 29, the British newspaper The Telegraph reported:
After the great financial crisis, the United States under-built housing for over a decade. So we have a housing shortage. Then after COVID, we had a rise in housing demand. And we’ve had a surge in immigrants in the last few years. They obviously need a place to live.
Mark Krikorian, director of the Center for Immigration Studies, said the reporters’ cover-up was not surprising, adding:
It seems like a taboo… We’ve seen them go through a bunch of ridiculous twists to avoid blaming Biden for the border crisis he created… [for example, they blame] Crop failures due to climate change: They are at pains to avoid actually discussing the causes, because to do so would mean agreeing with the Republicans.
Relocation and housing costs
Since the beginning of 2021, Biden has encouraged and welcomed a massive influx of roughly 10 million legal, illegal and semi-legal immigrants.
That’s roughly one immigrant for every American born during the Trump administration. This influx of immigrants has sent rents and home prices soaring.
Rising housing costs drive up the nation’s inflation rate, pushing up mortgage interest rates and monthly mortgage payments.
Below is a breakdown showing that shelter was by far the biggest factor. pic.twitter.com/DY0Q441eUR
— Kathy Jones (@KathyJones) March 14, 2023
For example, data released in late May showed that the home price index for 20 cities rose 7.4% annually from March 2023 to March 2024.
This is Biden’s three-pronged immigration punch to many American families: lower wages, higher prices and higher mortgage payments. Doubling It will rise from around $1,400 in January 2021 to around $2,800 in April 2024.
This is more than Biden’s resettlement-related housing tax of $14,400 per year, and has been portrayed by the media as something that is beyond Biden’s influence.
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The impact of migration can be seen in national maps of house prices, e.g. The Washington Post Produced Useful Maps On May 14th A 12.7 percent jump Home prices are soaring in the once-quiet city of Whitewater, Wisconsin, as at least 1,000 migrants flock to the town and surrounding farms under the Biden administration.
Hammond, Indiana home prices 7.2 percent increase Within a year, the population had dwindled as immigrants shared cramped housing and took low-paying jobs nearby.
The impact of migration is particularly severe in urban areas. Many illegal and semi-legal immigrants seek higher wages in cities, Sharing an apartment or a bed offsets rising rentsFor example, a landlord can make more profit renting a house to 12 hard-working immigrants who will share the rent than he can renting to one middle-class American family.Similarly, Americans flee high-migration neighborhoods by competing for housing in neighboring neighborhoods.
Biden’s relocation has claimed many casualties beyond the 2024 campaign. post The article describes Nevada as follows:
LAS VEGAS — D. Carter was paying $1,525 in rent, cable TV and WiFi for her one-bedroom apartment until her monthly rent jumped to $2,100 last year.
Unwilling and unable to pay the new interest rates, Carter, who asked not to be named, considered buying but quickly realized that with interest rates hovering around 7 percent, she couldn’t afford it. After months of searching, she found a new apartment in a decent part of town, but… She still pays up to 50% of her salary from her banking job, which fluctuates between $50,000 and $70,000, toward rent.
While housing is largely a local issue, it has become a difficult and complicated one in Nevada and other battleground states that is impacting this year’s election. President Biden Former President Donald Trump.
But media outlets and banks that serve the companies have quietly acknowledged the damage.
“A total of 13 economic zones [with high immigration] Per capita in all developed countries [per-person] According to the economic downturn at the end of last year, [an] The magazine, titled “Exclusive Analysis by Bloomberg Economics,” report On May 5, he added:
There are other factors, such as a shift to less productive service industries, [instead of manufacturing] And the newly arrived [migrants] Incomes are generally low, and housing shortages and the resulting rising cost of living are common challenges.
“Global immigration boom keeps housing costs high: The surge in immigrants is driving up rents, raising home prices and making inflation harder to avoid.” Said Headlines above articles in July 2023 The Wall Street JournalThe report cited a May survey from Goldman Sachs, which the email said was seeing an “immigration recovery” boosting home prices and helping investors.
[A] The post-pandemic recovery in immigration appears to be boosting population growth, thereby boosting housing demand and limiting home price declines (Display 5). This trend appears particularly important in Canada and Australia, where immigration and population growth have recovered most strongly.
Housing Issues in the 2024 Election
The damage is so extensive that Biden’s allies are concerned about his chances of winning the 2024 presidential election.
“Immigrants Definition problems “Victory in November’s presidential election was all but assured,” Bloomberg reporters lamented.
“This is a front-line issue almost everywhere,” acknowledged Shaun Donovan, who served as President Barack Obama’s housing secretary. “It’s changing the national politics around this issue in ways that I’ve never seen before,” he told The Associated Press.
“This is going to have a profound effect on how voters view the economy,” Wall Street analyst Mark Zandi told The Associated Press, even though in 2016 he criticized Trump for projecting that immigration cuts would cause home prices to fall 4% in 2018 and 2019.
But mainstream media sites are trying to keep the public in the dark by avoiding any mention of Biden’s move in their articles about housing costs.
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Seattle Police Department
“The U.S. The danger of rising housing prices “That’s been decades in the making,” The Associated Press told its national audience on March 15. “That’s Biden’s biggest problem, because he can’t solve it,” Daryl Fairweather, chief economist at brokerage Redfin, argued to the AP.
Krikorian said mainstream reporters can’t cover the issue. “Not bringing up the word ‘immigrant’ is a kind of superstition, like if you say Beetlejuice three times you get Beetlejuice,” Krikorian said.
“They’re scared that if they mention immigrants in an article, something bad will happen, or that some idiot among the public will launch some horrible act of xenophobia,” he laughed.
But many reporters and editors leave faint traces of this unnameable term in their stories, such as this Associated Press reporter who alludes to immigration: “The root of the problem is America’s failure to build enough housing for immigrants. Population growth. “
