{"id":34944,"date":"2024-11-20T00:15:46","date_gmt":"2024-11-20T06:15:46","guid":{"rendered":"https:\/\/ustower.net\/?p=34944"},"modified":"2024-11-20T00:15:50","modified_gmt":"2024-11-20T06:15:50","slug":"peter-thiel-migration-spikes-housing-costs-impoverishes-young-people","status":"publish","type":"post","link":"https:\/\/ustower.net\/?p=34944","title":{"rendered":"Peter Thiel: Migration Spikes Housing Costs, Impoverishes Young People"},"content":{"rendered":"\n

Migration is helping to wreck the nation\u2019s housing market and impose huge costs on young Americans, investor Peter Thiel told<\/a> the Free Press news site.<\/p>\n\n\n\n

\u201cThe way I model what\u2019s happened in the U.S., in Britain, Canada, a lot of the Anglosphere countries is a \u2026 real estate catastrophe,\u201d said Thiel, a billionaire who made his fortune in Silicon Valley by creating Paypal and other Internet-based companies.<\/p>\n\n\n\n

Even small migration inflows can cause large increases in housing costs, especially in districts where there is little construction, Thiel said, adding:<\/p>\n\n\n\n

There\u2019s ways I can describe this in Los Angeles, where we live, all sorts of places where the real estate prices, the rents have gone up more and more. If we talk about the inflation problem, it was inflation and immigration. There\u2019s a way you could talk about inflation in terms of the prices of eggs or groceries, but that\u2019s not that big a cost item, even for lower middle class people. The really big cost item is the rent. I think in some ways, [President Donald] Trump and [Sen.] JD Vance did manage to shift the conversation a little bit to this real estate problem. Again, I don\u2019t want to blame it all on immigration, but if you just add more people to the mix and you\u2019re not allowed to build new houses because of zoning laws, or it\u2019s too expensive, or it\u2019s too regulated and restricted, then the prices go up a lot.<\/p>\n\n\n\n

It\u2019s this incredible wealth transfer from the young and the lower middle class to the upper middle class and the landlords and the old. There are reasons you might not want to do that \u2026  If you actually think of it in Econ. 101 terms, maybe you don\u2019t want more people competing for your two-bedroom apartment and driving up the rent even more or even more people crowding in and paying money to the landlord.<\/p>\n\n\n\n

Breitbart News has closely tracked<\/a> the growing economic damage caused by government-directed migration<\/a>, including the vast transfer of wealth from young people to older landlords and investors.<\/p>\n\n\n\n

In the 2024 campaign, Trump won some younger voters by offering the hope that the return of President Joe Biden\u2019s migrants might reduce housing costs.<\/p>\n\n\n\n

\u201cIt\u2019s all about the American Dream,\u201d Trump told a roomful of business elites and billionaires<\/a> at the Economic Club of New Yor in September, adding<\/a>:<\/p>\n\n\n\n

We will make housing much more affordable\u2026 [and] we will get [mortgage rates] back down to 3 percent \u2026 [so] young people will be able to buy a home again and be part of the American dream \u2026.  [Democrats] don\u2019t want to talk about the American Dream because they are the exact opposite.<\/p>\n\n\n\n

Immigration \u201cis a big driver of housing costs,\u201d Vance told<\/a> a Detroit audience in October:<\/p>\n\n\n\n

The media, they don\u2019t like to talk about the fact that one of the biggest drivers of housing costs, one of the biggest reasons why our young people can\u2019t afford to buy a home is because under Kamala Harris\u2019s leadership, we have let in millions upon millions of people who don\u2019t have any right to be here.<\/p>\n\n\n\n

That pitch likely helped shift younger voters to Trump.<\/p>\n\n\n\n

Gen Z voters \u201cshifted right from D+24 to D+16 [and] Men under age 30 were R+10,\u201d according to a 9,000-person, election-day exit poll<\/a> by Cygnal.<\/p>\n\n\n\n

Migration\u2019s economic damage is especially high in coastal states, such as Boston<\/a> and New York<\/a>.<\/p>\n\n\n\n

breitbart<\/a><\/p>\n\n\n\n

<\/p>\n","protected":false},"excerpt":{"rendered":"

Migration is helping to wreck the nation\u2019s housing market and impose huge costs on young Americans, investor Peter Thiel told the Free Press news site. \u201cThe way I model what\u2019s happened in the U.S., in Britain, Canada, a lot of the Anglosphere countries is a \u2026 real estate catastrophe,\u201d said Thiel, a billionaire who made his fortune […]<\/p>\n","protected":false},"author":5,"featured_media":34945,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5780],"tags":[2250,1682,1214,3962,1703,4483],"class_list":["post-34944","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-livehood","tag-costs","tag-housing","tag-immigration","tag-poverty","tag-soaring","tag-young-people"],"_links":{"self":[{"href":"https:\/\/ustower.net\/index.php?rest_route=\/wp\/v2\/posts\/34944","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/ustower.net\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/ustower.net\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/ustower.net\/index.php?rest_route=\/wp\/v2\/users\/5"}],"replies":[{"embeddable":true,"href":"https:\/\/ustower.net\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=34944"}],"version-history":[{"count":1,"href":"https:\/\/ustower.net\/index.php?rest_route=\/wp\/v2\/posts\/34944\/revisions"}],"predecessor-version":[{"id":34946,"href":"https:\/\/ustower.net\/index.php?rest_route=\/wp\/v2\/posts\/34944\/revisions\/34946"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/ustower.net\/index.php?rest_route=\/wp\/v2\/media\/34945"}],"wp:attachment":[{"href":"https:\/\/ustower.net\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=34944"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/ustower.net\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=34944"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/ustower.net\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=34944"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}