We had this one
Rent is going down. Government stops pay for housing illegals will do that.
Comments
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You mean subsidies have an effect on prices?!?
Well, son of a bitch.
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The economists and their high theoretical achievements and wisdom neglected to take into account the stuff they teach in the first week of Econ 101.
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BidenBros cheered paying billions in rent for illegal criminals.
Are any of you now supplementing the lost federal free rent money for you heroic crooks? If not why not? You voted for the invasion.
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I would call it "artificial demand."
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Yep. It was exponential. Printed govt money for new dwellers raised bidding prices at higher than market rates, which then raised housing prices, which then further increased rents which made housing prices go up again. All government caused.
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Toss in blue state and city regulations which make new housing construction very expensive. Dems love to import 12+ million illegals under the dementia patient plus millions more of "legal" immigrants and then like in Oregon have extreme urban growth boundary limits forcing all those immigrants into limited space with no new room for even apartments. Southwest Portland is pretty tapped out on new space for development.
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The economists promoted by government aren't good economists, they just tow the party lines.
Keynes would be on the dustbin of academic history if his conclusion wasn't more government spending.
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Austrian School flunkies TOTD
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Keynes big miss was his GDP multiplier effect. The conceit that smart government spending would result in more downstream GDP than the temporary deficit that was created by the upfront "investment". Hence Stretch Pelosi arguing that food stamp spending was going to create value. It doesn't and didn't. Unproductive "investment" just crowds out private sector investment as interest rates and inflation result. So look at the Make Inflation Greater Act. It funded inefficient and expensive energy production. It funded tax credits for EV to crowd out efficient ICE vehicles. When public education investment has a negative ROI you don't get to call it investment. When the government "loans" money to college students who couldn't get private bank financing for their Gender Equities degree that isn't an investment with any positive GDP multiplier.
At least in the distant pass, the government actually used public spending to build something that the public could benefit from. Bonneville Dam, Grand Coulee Dam, Hoover Dam, the TVA, the US Interstate Highway System. Today, it's welfare for illegals and bike lanes and education that get the investment all under the guise that there was a positive GDP return.
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Go ahead and explain to us how 10+ illegals many of which are getting vouchers for food and rent aren’t driving up rental prices?
