Impact of President Joe Biden's Migration Policies on Mortgage Rates and the Economy
President Joe Biden's migration policies have led to an increase in mortgage rates, impacting young couples and families. The influx of immigrants has raised demand for housing, pushing up interest rates. This has also contributed to inflation, reduced wages for Americans, and caused a shortage of rental housing. The economic policy of Extraction Migration aims to grow the consumer economy but has negative consequences on native-born Americans.
Key Points
- Immigration has increased demand for housing, leading to higher mortgage rates
- Inflation has been worsened by the influx of legal, illegal, and quasi-legal migrants
- Extraction Migration aims to grow the consumer economy but negatively impacts native-born Americans
Pros
- Increased immigration can help fill job vacancies and stimulate the consumer economy
- More immigrants can lead to lower wages, benefiting investors and progressives
Cons
- Rising mortgage rates burden young couples and families
- Inflation caused by migration policies has negative effects on housing prices, wages, and consumer items
- Extraction Migration policy harms native-born Americans by reducing productivity and political clout