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US HOME BUILDERS THRIVE ON CURRENT WAVE OF IMMIGRATION
Both a recent report about US home builders' success and a study by the Cato Institute and the National Immigration Forum have shown that the recent wave of immigration is making a positive contribution to the US economy.
According to a recent Bloomberg news service report, US homebuilders are realizing significant benefits from marketing the sale of new homes to immigrants. The report cited a study by Fannie Mae, which found that new immigrants to the US who rent are almost three times more likely to consider buying a home their top priority than all adult renters. The study also found that immigrants, in general, are more likely to buy a home in the next three years than all adults.
A separate study by the Cato Institute and the National Immigration Forum found that the overall impact that immigrants are having on the US economy is a positive one. The report estimated that the 25 million legal and illegal immigrants in the US each contribute $20,000 to $80,000 more in taxes than they use in services over their lifetimes. In addition, it stated that families with naturalized citizens pay about $1500 more annually in federal taxes than native-born families. The authors of the study arrived at these numbers by combining the findings of other researchers in about 30 studies. Critics of the study, such as Representative Elton Gallegly (R-Simi Valley), warn that it was created to mislead policymakers and that the methods used in its creation were not scientific. In addition, Gallegly believes that mixing statistics for legal and illegal immigrants is misleading and inaccurate.
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