Immigration reform could spur housing recovery | Katonah Real Estate

Immigration reform in America would broaden and accelerate the current housing recovery, in addition to feeding the growth of the economy by adding new, younger workers into the labor force, a report from the Bipartisan Policy Center said.

In a report titled “Immigration Reform: Implications for Growth, Budgets, and Housing,” the policy center argues that immigration reform can produce powerful economic benefits.

Immigration reform would jump-start the housing recovery by dramatically increasing demand for housing units, growing residential construction spending by an average of $68 billion per year from fiscal year 2014 to 2023, the report said.

The 20-year period includes a peak of more than $110 billion per year in fiscal year 2022 through 2025, with the first decade’s annual average about $56 billion per year higher, and the second decade’s about $81 per year billion higher.

However, if all unauthorized workers were removed, spending would decline by more than $100 billion per year compared with the baseline, or the current projections if no change was made, and more than $175 billion per year compared to the reference case.

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