Supply and demand. That’s it. That’s literally the main reason.
While there is more demand than there is supply, prices go up. When we keep bringing in even 1000 immigrants a day, demand keeps going up while supply isn’t increasing, so - you guessed it - prices go up.
Your opinion is very popular on reddit. You should check it out.
Even reddit gets things right occasionally I guess.
Do you think supply and demand isn’t what drives prices up, or do you not understand how supply and demand works?
I mean you’ll see more people resonating with your opinion there. Here you will be bashed. Potentially with good reasons.
I believe in supply and demand yes, and I don’t believe real estate follows that. It’s a game and those who know how to play and have better resources win.
As mentioned here, there is the COVID example. I don’t find your explanation credible. “People” (if I can use the term for those who benefited from the pandemic) didn’t get rich so quickly for your explanation to make sense.
What I do remember, not what I think, was people complaining everywhere that they couldn’t find workforce. I remember a lot of chaos that happened directly because the immigrants were gone.
Other than that, I’m not an “investor” and I would never be. So I can’t debate that. I do know that investors (I know quite a few of them) are the cancer of society and their death would directly benefit everyone, probably also solving the real estate issue and I would be able to buy a house since anyone wanting to profit from that would worry about being murdered.
That’s my personal opinion on the subject. After all investors are killed, then we can start checking if immigrants are a problem and try to solve it. But it’s probably a somewhat radical opinion.
And your rationale for huge growth during COVID when there was little no to immigration?
Free money being handed out in the billions, and yes - supply and demand. A lot of people got very rich during covid, and a lot of people took advantage of those that could no longer afford their houses so had to sell them. More people were wanting to buy than were selling, and lots of them were in desirable areas where previously houses weren’t really available. About 6 houses in my street who all bought their house and land for ~$300k sold for over a million during COVID to cashed up out of state-ers, and prices just kept going up and up as more put their houses up for sale to cash in, with massive bidding wars. More demand than supply does that.
There was a redistribution of wealth towards the extremely rich, not sure why we’re blaming that on immigrants. Do you have any resources about the rest of your points?