Immigrants Have Added $3.7 Trillion into Housing Market, Says Study
Immigrants Have Added $3.7 Trillion into Housing Market, Says Study
40 million immigrants have contributed $3.7 trillion to the U.S. housing market, says a new report by AS/COA and the Partnership for a New American Economy.
In the midst of tough Senate debates on immigration, a new study says immigrants in the United States are helping to increase housing wealth. According to the report from the Americas Society/Council of the Americas (AS/COA) and the Partnership for a New American Economy, 40 million immigrants in the U.S. have contributed more than $3.7 trillion dollars of growth.
“We already know that immigrants help start new businesses and create jobs, and with this research we are uncovering the many contributions of immigrants to the health of the housing market and especially to stabilizing less desirable communities,” stated Susan Segal, President and CEO of AS/COA, in the report. ”It shows yet again why immigrants and immigration reform are so valuable both for our national economy and for local communities across the United States,” Segal added.
One of the study’s conclusions is that immigrants are critical to revitalizing neighborhoods, which then become vital for middle and working-class Americans to buy a home, according to Jason Marczak, the Director of Policy at AS/COA. Researchers created an interactive map that shows the changes in housing values caused by immigrants in each county throughout the country.
“The effects of immigrants in certain counties are somewhat muted because immigrants do not tend to settle in expensive areas,” Marczak said. “They tend to move to areas where the houses are more affordable.”
Marczak said one of the main questions researchers wanted to answer is if immigrants gravitate towards thriving communities or if they make communities thrive....
