I'm sure some of us knew it would come to this.....

Fed’s Powell says US homebuilders hit by ‘a perfect storm’ of Trump’s immigration policy, tariffs

KEY POINTS

• Powell says “a series of factors” are holding homebuilders back and “challenging affordability,” in response to questioning from Sen. Tina Smith, D-Minn.
• The head of the Federal Reserve says those include a skilled labor shortage and increased material costs, aggravated by the Trump administration’s immigration policy and tariffs, respectively.
• His comments come amid a severe housing shortage which has inflated home prices and kept would-be first-time buyers on the sidelines.

https://www.cnbc.com/2019/07/11/fed...immigration-policies-hit-us-homebuilders.html

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Response;

"Clearly, the homebuilding industry wants more Mexican construction workers so that wages can be kept low."




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Well folks, looks like Trump's restrictive immigration policies and tariffs have created;

1. a perfect storm, and

2. a "damn if we do, damn if we don't"

Thus, at this stage, what do people want the most;

1. A better economy, or

2. Protectionism

 

Protectionism. US workers are now getting higher wages.

 

Protectionism guarantees that Americans are made worse off. Any wage gains are dwarfed by cost of living increases and worsening economic inefficiency. No debate, it's been understood since David Ricardo's time.

 

I thought we were a nation of laws. If enforcing our laws is protectionist, its better than open border anarchy...

 

The homebuilding industry wants to raise the H1B Visa Cap because there is an extreme shortage of skilled construction workers, and that's not protectionism, however, the response I stated in my opening post;

"Clearly, the homebuilding industry wants more Mexican construction workers so that wages can be kept low."

......is protectionism.

 

Liberals and dems only support the laws that help their agenda. An Agenda for open borders, taxpayer paid abortions, gun control, legalize drugs, release drug dealers from prison, let other countries shove us around on foreign aid and trade, reduce the military, move manufacturing to foreign countries, racial preferences, punish achievement, more welfare, more housing allowance, more food stamps, kneeling for the National Anthem, running down our flag, and raising taxes. Their agenda is now out in the open.

 

Not sure I trust the housing industry to determine our immigration policy. I'll stick to the laws, thank you very much. There are literally millions of homes in America that are less than a decade old, it isn't visas that are the real problem...

 

Americans are becoming worse off already. What is your proposal for clawing back some of the wealth of the global capitalists?

Business as usual is resulting in the hollowing out of the middle class.

 

You're mixing up issues. The US has a political economic system that favours the corporation and kicks the working classes into the gutter. Naff all to do with trade. Protectionism will just harm the worker more.

 

Hmmm...

Hopefully the economy hits rock bottom in October 2020.

Perfect timing.

 

This powell is as confused as his father was

 

Not at all. When the unions were strong, they fought for protectionism and against immigration. I wonder why? Perhaps they didn't want to compete with foreign workers.

But I await your solution to middle and working class woes.

 

They fought for their workers to the detriment of others. You do not derive worker power through protectionism. You merely redistribute between workers and ensure overall losses.

Gosh, look at those countries with greater trade liberalisation than the US and still lower working poverty....

Whinging about globalisation is what the rent seeker wants. It's a similar tactic as 'blame the immigrant' and 'sneer at the dole scrounger'. Standard divide and conquer.

 

Why is California's inflation rate twice as high as compared to the rest of America ?

Guess what ?

All of those progressives and reconquista socialist in California's state legislature will soon be contaminating Congress in DC.

As California goes...the rest of the nation follows.

 

Gosh, look at those countries with greater trade liberalisation than the US and still lower working poverty....

Whinging about globalisation is what the rent seeker wants. It's a similar tactic as 'blame the immigrant' and 'sneer at the dole scrounger'. Standard divide and conquer.[/QUOTE]

I still wait your solution to increasing economic inequality. Importing foreigners and exporting jobs doesn't seem to me to be a solution.

 

Piece of pish: market socialism

 

Protectionism is stupid, but there's no shortage of skilled labor in construction.

There's a shortage of skilled labor at $15/hr.

 

Since they can't afford a home, they can use that money to buy protection from the homeless bums on the streets.

 

Wait until crops start rotting in the fields because they can't get enough workers for the harvest.

I remember one town that banned renting to anyone without proof of citizenship. The immigrants left and the farmers went broke,

 

Democrats haven't been this upset since they had to give up their last class of slaves.

 

We only have 11 years left. Who cares.

Really.

What town was this.

 

So you believe cheap produce is worth child labor?

 

Good point.

Construction material cost increases.....

Trump’s Raised Chinese Tariffs Made Home Construction Much More Expensive
National Association of Home Builders says last week’s tariff increase equals a $2.5 billion increase in US home construction costs

https://www.forconstructionpros.com...fs-made-home-construction-much-more-expensive

Thus, According to NAHB, Trump's tariffs making new homes too expensive to build, thus, too expensive to sell/buy.

RECOMMENDATION;

Lower wage skilled workers would compensate for said cost increase.

 

They'll say anything to keep their slaves.

 

Here's another good point: people whose job was outsourced to China can't buy a house.