We came across this quite interesting information from the Lincoln Institute, which reports on research being done by Professor Dowell Myers.
Booming Trends (use link for full article)
The crystal balls are out on the housing market, and Dowell Myers sees a dark age ahead. The big problem is all the housing stock owned by aging baby boomers, says Myers, professor at the University of Southern California School of Policy, Planning, and Development, and not enough homebuyers to soak up the supply once they try to sell in vast numbers. A saving grace would be immigrants, but tightened policies on immigration are diminishing their role. ... “We need to bulk up the future generation of homebuyers,” by investing in education, particularly for neglected minority populations, and recognizing the economic power of the foreign-born, whose homeownership rates continue to grow. ...
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An article by Professor Myers is also available on The Planning Report web site; here is a brief excerpt.
Immigrant Contributions In An Aging America (use link for full article)
... The upward mobility of immigrants is not visible until they have been here awhile. My analysis of Latino immigrants, generally among the least advantaged immigrants, shows tremendous rates of upward mobility. When they are newcomers, most speak English poorly and have few economic assets. In new destinations of immigrant settlement, that is what the locals see. They often assume that immigrants will remain like newcomers their whole lives. Not so, according to data from California, where immigrants have been settling since the 1970s. Ability to speak English well advances from 33.4 percent among those who recently arrived to 73.5 percent among immigrants residing in the United States for more than 30 years. In the same time period, poverty rates decline from 28.7 percent to 11.8 percent. Most important may be Latino immigrants’ progress into homeownership. Few start out as homeowners, but in California, 64.6 percent of immigrants who have stayed more than 30 years are homeowners. Immigrants’ upward mobility is likely to make a vital economic contribution when the multitudes of baby boomers start selling off homes. ...
Myers is also the author of Immigrants and Boomers: Forging a New Social Contract for the Future of America.







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