If the US didn't have immigrants, we would have almost no capacity to build anything. Immigrants are the backbone of the construction trade.
One of the surest signs property prices are going to get crazy high is when blue collar immigrants are no longer able live in the area. You need a plumber? They live 5 hours away. Wait in line.
Population growth is only very tangentially related to property prices. Plenty of examples of places with high population growth, but reasonable prices.
But when you don't have a strong supply of construction labor, you're in a bad, bad spot.
How reliant is the UK on immigrants for construction?
If the US didn't have immigrants, we would have almost no capacity to build anything. Immigrants are the backbone of the construction trade.
One of the surest signs property prices are going to get crazy high is when blue collar immigrants are no longer able live in the area. You need a plumber? They live 5 hours away. Wait in line.
Population growth is only very tangentially related to property prices. Plenty of examples of places with high population growth, but reasonable prices.
But when you don't have a strong supply of construction labor, you're in a bad, bad spot.
How reliant is the UK on immigrants for construction?