JPMorgan Chase analysts warn that President Trump's immigration policies may negatively impact the housing market, particularly in terms of affordability. While Trump argues these measures will reduce demand for affordable housing, the report suggests a reduction in immigration could impede construction efforts. With around 30% of construction workers being immigrants, this could lead to a significant labor shortage, preventing the development of new affordable homes. Additionally, despite promises of emergency price relief, the president has yet to propose specific housing solutions during his administration's early days.
By reducing immigration and lessening demand, Trump argues that housing costs can be reduced. It's not that simple, though - approximately 30% of construction workers are immigrants.
Cutting immigration would mean cutting labor supply in the construction industry, which could end up exacerbating the lack of affordable housing.
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