1 million+ foreign workers a year flooding in has driven US housing prices to unafforable levels for most Americans.
Mass immigration creates too much demand too quickly, which markets can’t supply fast enough.
Mr. Greenspan didn’t consider this ramification when he “opened a significant window for foreign workers to end the concentration of income” in 1998.
Or maybe he did – after all, banks can’t survive without keeping people in debt.
Driving wages down + prices up is a fav tatic of greedy Wall St. bankers.
Housing can’t be built fast enough to keep up with the influx, hence housing prices rise.
If work visa floods such as H-1B didn’t exist, this couldn’t happen.
This doesn’t happen when a nation has natural population growth.