These are usually worth pondering because you'll at least learn something.The following is an article worthy of hatred. My previous Bloomberg columns:
…Note that increases in real estate prices, insofar as they are due to immigrant demand, lead to significant capital gains for homeowners, most of whom are native-born. While rising house prices may certainly be a negative for many young Canadians who may be locked out of the housing market, many will end up inheriting expensive homes from their parents. Dew.
But it's true. “Immigrant home price gouging” is not a big worry, but it does create distributional problems (is this the main way conservatives worry about distributional problems?).
With a little more effort, you might be able to strengthen your aversion to the argument even more. I often hear, „Oh, I wish we could just accept more immigrants.'' But the more there are, the more YIMBYs will be needed to house them at a reasonable cost. ”
perhaps! However, we must not forget the terms of trade model of international exchanges. If one of the export industries is to „sell houses to arriving foreigners,“ he may wish to collude with sellers to limit production and raise prices for foreigners. At least if you are maximizing the welfare of the initial natives.
And that's exactly what NIMBY policies are doing. So by enforcing a kind of tacit collusion, they force arrivals to pay more for housing. In other words, pay the natives more money.
Raise your hand if you are against capital gains.
Of course, the cosmopolitans among us can solve these problems relatively easily.