Residential real estate market information for Metro Detroit's Northern Suburbs brought to you by Realtors Maureen Francis and Dmitry Koublitsky of SKBK Sotheby's International Realty. Monthly market statistics for home owners in Oakland County. MLS listings available on our web site:

Thursday, July 14, 2005

Immigration and real estate

From Inman News... Assuming three people per household (once they get settled), immigration creates the need for 300,000 more housing units every year. The United States is experiencing a tremendous wave of immigration, with the number of immigrants increasing steadily since the 1930s. Over the last two decades, the country has recognized an average of nearly 900,000 legal immigrants per year (400,000 new arrivals and 500,000 status adjustments), in comparison to just 450,000 per year during the prior two decades. These new arrivals tend to settle in large numbers in just a few states. Six states – California, New York, Texas, Florida, New Jersey and Illinois – accounted for two-thirds of the immigrant population in 2004.

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