CBS News featured a story on the benefits of new immigrants to a community. The greater Cleveland area, for example, is still trying to recover from the vacant housing issues in some neighborhoods. The opinion of one policy expert is this:
“Immigration yields a significant impact on home values across the country, occurring most notably in relatively affordable metropolitan areas and neighborhoods,” according to the report. “Controlling for other factors, when an immigrant moves into a community, the price of the average home rises by 11.6 cents.” If 1,000 immigrants arrived, in other words, a home’s value could rise by more than $11,000.”
The above article highlights other points as well, in a new report just released. It’s a good read and interviews other people not involved in the report who provide further analysis.