Open the Borders, End the Housing Glut

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Good piece by the Ayn Rand Institute: “Imagine if the number of annual immigrants increased from around 650,000 a year to, say, five million. Virtually overnight we would see money pour into the American real estate market, as millions of new businessmen and workers bought and rented homes. Not only would this eliminate the oversupply of houses, we would enjoy the broader, long-term economic benefits of welcoming legions of highly skilled and motivated individuals into the American economy.”

As a friend observed, “It would be much cheaper and more humane than a bailout, which is why conservatives will never go for it, of course.”

4:20 pm on December 11, 2008
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