According to pro-immigration business magazine Bloomberg, immigrants are contributing to rising per capita poverty in many developed countries, primarily due to rising housing costs.
“Now, 13 economic zones. [with high immigration] Per capita rate for all developed countries [per-person] According to an independent analysis by Bloomberg Economics, the economy was in recession at the end of last year. report May 5th:
There are other factors as well, such as a shift to less productive service industries. [instead of manufacturing] And the fact that I’m newly arrived [migrants] Income is generally lower. Housing shortages and the associated cost of living are common challenges.
Countries affected by the immigration process include Canada, New Zealand, Australia, Germany and the United Kingdom, the article said, blaming housing prices on “undersupply.” [housing] It’s not about excess immigration, it’s about “supply.” For example, in the UK it is stated that:
A lack of real estate for large populations has caused house prices to rise more than eight times the average income in England and Wales, and more than 12 times the average income in London. In 1997, their P/E ratios were 3.5x and 4x, respectively. Lack of supply has also caused rents to soar at a record pace over the past 12 months, exacerbating the cost of living crisis, particularly for young Brits.
Breitbart News reported on May 6 that President Joe Biden’s massive influx of nearly 10 million low-skilled, undocumented and semi-legal immigrants is leaving young American workers without hope of buying a home. It was reported.
Renters’ pessimism about one day owning a home has worsened, with hopes of owning a home one day hitting a record low, a survey has found. released The New York Fed announced this on Monday.
The average probability of a renter buying a home in the New York Fed’s Consumer Expectations Survey fell to 40.1%. This is down from 44.4% a year ago and the lowest on record 10 years ago.
In Germany, where there are many immigrants, “industrial productivity is declining at an alarming rate of 5% per year.” financial times report May 6th:
To make matters worse, high housing costs are driving down birth rates, Bloomberg noted.
[Indian-born Akanksha] Biswas [lives in Canada and] She spends more than a third of her income on monthly rent of C$2,800 ($2,050), which she splits equally with her partner. She has cut down on her eating out and makes coffee at her home instead of going to cafes. She has also postponed her plans to have children and buy a house. “I can’t see her own future here if she wants to support her family,” she says.
A notable graph is that the largest category of 34-year-old women in the U.S. currently has zero children. What is the cause? Convenience, egoism, cost of living, or something else? pic.twitter.com/uEQqRLOPiL
— Michael A. Arouet (@MichaelAArouet) May 5, 2024
But Bloomberg said the solution to the damage caused by immigration is more immigration, and said the article was written for investors who could profit from population growth.
The longer voters in Britain, Australia, Canada, and similar economies think their living standards are in decline, the stronger their opposition to rapid immigration programs will be. Durable solutions require government policies, especially housing policies, that convince both would-be immigrants and existing residents of the benefits of immigrant-led economic growth.
According to Bloomberg, the additional immigrants will be used to build housing for current immigrants. “Skills shortages in many parts of the developed world mean more workers are needed, not fewer,” the article said, adding that “a global housing shortage is driving immigration.” The headline read, “This is crushing economic growth.”
If you work hard, rise to the top of your profession, make $200,000, and have a few kids, one day you too will be awarded $1.1 million in ruins by a Chinese buyer who swindled money from the Xi administration. You might be able to outbid the bedroom. dog boxpic.twitter.com/8YeAqX2Gp7
— Rational Aussie (@rationalaussie) May 6, 2024
However, Bloomberg lamented that public opinion is against increasing immigration. “Immigration is shaped like this” problem definition in the November presidential election,” the article said. Bloomberg News is owned by Michael Bloomberg, who is a prominent advocate of increased immigration.
Few politicians are aware of this problem. However, Republican Sen. J.D. Vance (R-Ohio) focuses on immigration’s role in rising housing costs:
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“Illegal immigration means the theft of the American Dream…25 million people who shouldn’t be here by law are competing with American citizens to buy their first home…This is even more true in the context of immigration. It is a big issue that should be discussed “crisis” – @JDVance1 pic.twitter.com/Y929EabSnV
— Andrew Surabian (@Surabees) February 9, 2023
Bloomberg’s comments come as China emphasizes automation and workplace productivity to expand its economic influence and worker wages, yet immigration is impoverishing Western families and forcing them to invest. This was done at a time when many economic elites recognized that the industry was being diverted from the industry.
“All available evidence shows that China’s impressive export performance is driven by manufacturing productivity driven by investments in robotics and AI applications.” Said David Goldman, author of Asia Times.
“I would argue that the big winners among developed countries are those with declining populations,” said Larry Fink, founder of BlackRock. Said At an April 29 event hosted by the World Economic Forum in Saudi Arabia. He continued:
these countries [such as China and Japan] Robotics, AI, and technology will develop rapidly…with all its promise to transform productivity. most of us think that [emphasis added] —Even though the population is decreasing, it will be possible to raise the country’s standard of living and the standard of living of individuals.
“Many policymakers have recently argued that immigration helps reduce price increases by alleviating labor shortages…but the evidence is weak and may actually point in the opposite direction. There is sex. economist The magazine reported on April 30th: He further added:
Nowhere is this more evident than in the case of rental housing, which is in short supply worldwide. Research by Goldman Sachs shows that for every 100,000 net overseas migrants a year in Australia, rents rise by around 1%.
Kristalina Georgieva, managing director of the International Monetary Fund, said in April that Americans are being paid fewer wages because of the “abundance of labor flowing across our borders.”
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