Immigration Boosts Renter Demand, Builder Confidence Is Growing

Did immigrants help keep landlords afloat during this tough housing market? New data may be pointing to just that. Today, we’re discussing one rarely mentioned housing market factor—immigration and immigrant renters. We’re talking about documented AND undocumented immigrants, asylum seekers, and what the effect of the massive influx in immigration has been on the renting market. John Burns from John Burns Research and Consulting, joined by VP of Demographics Eric Finnigan, is back on the show to discuss immigration, household formation, migration patterns, mortgage rates, and the effects each of these factors has on the housing market. With immigration exploding (we’re in one of the largest immigration years EVER), the next obvious question is: how is this affecting rents/available homes? John and Eric bring in new data to share how immigration may have “bailed out” landlords during the worst parts of the market. But that’s not all. We also touch on John Burns Research’s newest house-flipping survey and how flippers are surviving (thriving?) in today’s market. Why are builders becoming more bullish on the housing market? And could the recent mortgage rate cuts open the spigot of homebuyer demand in this already supply-constrained market? We’re digging into the data that answers these questions in today’s show. In This Episode We Cover The newest immigration and housing data pointing to some surprising conclusions for landlords Why immigrants crossing the southern border are NOT just settling in border towns How immigrants may have “bailed out” multifamily investors struggling to fill units New multifamily supply and why builders are becoming more bullish in today’s market Whether or not lower mortgage rates will lead to higher home prices  The state of house flipping in 2024 and whether flippers are still making money And So Much More! Links from the Show Join the Future of Real Estate Investing with Fundrise Join BiggerPockets for FREE  Find an Investor-Friendly Agent in Your Area Dave's BiggerPockets Profile U.S. Immigration Crisis: What It Really Means for Housing Markets and Investors Get on the List for John Burns Research: [email protected] Fix and Flip Survey Master the Real Estate Formulas Before You Buy with “Real Estate by the Numbers” Jump to topic: 00:00 Intro 02:11 Immigration is Exploding  04:59 Why “Households” Matter 06:40 Immigrants Boost Demand 08:50 Landlords Got “Bailed Out” 11:47 MORE Multifamily Development? 15:58 Mortgage Rate Cut Implications 23:37 Are Flippers Surviving?  29:06 Grab the Data! Check out more resources from this show on BiggerPockets.com and  https://www.biggerpockets.com/blog/on-the-market-258 Interested in learning more about today’s sponsors or becoming a BiggerPockets partner yourself? Email [email protected]. Learn more about your ad choices. Visit megaphone.fm/adchoices