August 9, 2007

WHICH IS WHY THERE'S A HOUSING SHORTAGE, NOT A GLUT:

Immigrants have taken four in ten homes since 1997 (JAMES SLACK, 8th August 2007, Daily Mail)

Four in ten homes built over the past ten years have been needed because of immigration, figures have revealed.

Nearly 600,000 properties have had to be constructed because of the new arrivals since Labour came to power in 1997, said researchers at the House of Commons Library.


That's certainly one of the big ways in which our generation of immigrants is superior to your grandparents--they buy property much quicker and become genuine stakeholders in society.

Posted by Orrin Judd at August 9, 2007 7:25 AM
Comments

This, of course, is a big reason why those evil, dreaded, Subprime Mortgages will never fully go away. Once those bankers start making the end borrower take more of the risk (and those minorities will always be willing to take that elevated risk in order to prove themselves), the Subprime mortgage business will be back up again.

Posted by: Brad S at August 9, 2007 9:55 AM
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