A recent report from Breitbart says recent record rents are coinciding with skyrocketing immigration – especially in the nation’s largest urban cores. Citing recent data from Zumper, rents across the United States have hit a record high, with the median rent for a one-bedroom apartment reaching nearly $1,500 a month. They point out that cities inundated with mass immigration (New York City, San Francisco, Miami, Los Angeles, and Washington, D.C.) have the highest rents as thousands of new arrivals push up the cost of housing, which the author says is a boon for real estate investors and a detriment for renters and first-time buyers.
“Real estate investors are some of the biggest beneficiaries of mass immigration to the United States. Immigration-driven population growth, set to bring the United States population to more than 400 million by 2060, is likely to send housing prices even higher.”