I’ve heard many commentators say Trump won this election on the immigration issue, and I believe it certainly played a big role; most Americans know the open borders and H-1B program visibly lowered our standard of living. While a few niches benefited from the mass immigration, most of us are hurt by it - without a doubt.
[While a few niches benefited from the mass immigration, most of us are hurt by it - without a doubt.]
Owners of capital benefited. Non-owners, not so much. Large-scale immigration is a dagger pointed at the heart of wage growth. On top of that, it also makes home ownership a lot more expensive, given that infrastructure is expensive, and mostly located around established cities, which means that the abundance of land in the sticks makes little difference to what it costs the average worker to buy a home near his job. One way the feds could make a difference, oddly enough, is to ban (1) building codes that limit vertical construction in the name of air rights and (2) home-size zoning restrictions.