December 16, 2012
WHICH IS HOW NATIVISM TRIGGERED THE CREDIT CRUNCH IN THE FIRST PLACE:
Migrants 'will push house prices up by an extra 10%', Theresa May warns (JAMES SLACK, 12 December 2012, Daily Mail)
Indeed, the best way to reduce the wealth of homeowners and the pace of economic growth is to make homes less valuable.Her officials pointed to research by Professor Stephen Nickell which predicted that, if net immigration runs at 190,000 a year, house prices will end up 13 per cent higher over the next two decades than they would if migration were at zero.Currently, net migration - the difference between the number of people arriving in the UK and those leaving - is 183,000, though Mrs May has vowed to reduce it to the 'tens of thousands'.She said: 'More than one third of all new housing demand in Britain is caused by immigration.'And there is evidence that without the demand caused by mass immigration, house prices could be 10 per cent lower over a 20 year period.'
Posted by Orrin Judd at December 16, 2012 7:20 AM