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Sunday, September 24, 2006
Immigrants could boost housing market in U.S The housing industry in the U.S, which is predicted to have a rough time in the years to come with economy slowing down, can be pulled off from its slump, as U.S immigrants are buying more homes. Nearly 8% of the homeowners in U.S are immigrants from other countries. Federal Reserve Bank in Chicago and the Brookings Institution in Washington say that the immigrant population in U.S would increase by another 7 million by 2020. Another data showed that 56% of immigrants in 2004 had their own homes compared to 46% in the year 1995. Economists say that the housing demand will keep rising as more immigrants land in U.S and a few feel that the housing market that has seen a slump recently, could recover within a year’s time with demand fueled by the immigrants looking for a new house. The housing growth in U.S is considered to be one of the important criteria for evaluating its economy. To read more click here
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