A reader recently sent me this link
that reports decreasing sales of existing homes and another that reports
increasing sales of new homes. Now, what is going on here? Well, I expect a lot of those existing homes are either in areas that are getting a lot of recent immigration(i.e. California) or areas in which economic opportunities are being curtailed via mass immigration.
Immigration is a funny thing, short term, it can prop up real estate prices by cramming more people into a given area, but longer terms, those areas get unlivable—and those that can leave(as the case of California shows).
I suspect the recent attempted Kennedy/McCain/Bush immigration expansion is largely an attempt to prop up real estate prices in specific areas like the East Coast, California and South Florida.