The Counselors of Real Estate, a professional association for real estate consultants, stated that immigration restrictions could hurt the real estate industry.
While the organization does not take policy positions, the statement pointed out that “tightened restrictions on the numbers of people entering the U.S. will negatively impact multiple industry sectors from housing to hospitality to retail.”
“Immigration is a dynamic source of new household formation, too” says Scott Muldavin, CRE, Chair of The Counselors of Real Estate. “New immigrants tend to rent, which boosts demand for multifamily housing, especially in gateway cities.”
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Immigration was also listed in the CRE 2017-18 Top Ten Issues Affecting Real Estate:
- Political Polarization and Global Uncertainty
- The Technology Boom
- Generational Disruption
- Retail Disruption
- Infrastructure Investment
- Housing: The Big Mismatch
- Lost Decades of the Middle Class
- Real Estate’s Emerging Role in Health Care
- Immigration
- Climate Change
