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I understand what TFM means now when he explained why housing won’t go down. The immigration of Indians who mostly just go on welfare and don’t contribute anything take up housing which creates scarcity in the housing market and keeps wages low. Benefitting older homeowners.
@TenaciousWolf Immigration is a huge factor in housing cost, but there are others. One is the proliferation of land use restrictions, which drives up the cost of a lot to build on. These came about from attempts to push people into high density housing. Another is a result of vast swaths of the country losing their industrial base ( from NAFTA),forcing people to move, creating pockets of housing shortages. In areas (i.e. the rust belt), there are surplus houses but no jobs; where jobs, shortages