Thursday, February 12, 2009

Immigration and Housing II

Alex Tabarrok at Marginal Revolution joins others in suggesting that encouraging immigrants who want to buy houses in the U.S. is one way out of the recession. That's the same logic as mine, in arguing that anti-immigrant agitation helped take the steam out of the bubble.

In the long run, you only get rid of surplus housing inventory by finding more buyers at the bottom of the ladder or taking the time to work off the surplus.

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