Will there be a housing crisis due to migrant influx?
Ken McElroy Show
Ken McElroy
4.8 • 692 Ratings
🗓️ 27 February 2024
⏱️ 36 minutes
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Summary
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Transcript
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| 0:00.0 | Welcome to the Real Estate Strategies podcast. Let's get right into this episode. So now that there's |
| 0:05.4 | 10,000 immigrants per day coming into the U.S., and the job market is already slowing down, |
| 0:13.1 | we are going to have a housing issue, a housing crisis. It's already starting. Yes, absolutely. |
| 0:20.2 | So we're going to be talking about today the housing |
| 0:22.7 | shortage. Obviously, guys, this is a very political issue, but I want to try to stick to housing if we can't. |
| 0:28.6 | There's a couple facts that I want to spew. First of all, the U.S. is in a housing shortage that |
| 0:33.5 | should not be negotiable. So we're somewhere between five and six million housing units needed. |
| 0:39.4 | That's the National Association of Realtors. |
| 0:41.9 | Just Google it. |
| 0:43.0 | That's the National Home Builders. |
| 0:44.6 | Just Google it. |
| 0:45.9 | That's the national income, |
| 0:48.2 | low-income coalition housing. |
| 0:51.0 | Just Google it. |
| 0:52.1 | You'll see that we are severely under supplied. This is precisely why |
| 0:57.4 | rents have gone up and housing prices have gone up. So we have that. But let me back up for a |
| 1:05.1 | second. There's nothing wrong with immigration. It's been a part of our culture. It's how our whole country was founded. |
| 1:14.3 | So, you know, we need to acknowledge that. On the average, there's been about one million |
| 1:22.0 | legal migration net a year. So when they call net migration, |
| 1:27.8 | those are people moving, coming and going. |
| 1:29.9 | So that's net migration. |
| 1:31.2 | So in the last 20 years, |
... |
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