Labor Market Distortion and Housing Dynamics

This chapter examines the significant impact of immigration on labor market statistics and the inadequacies of household surveys in capturing true employment figures. It analyzes the current state of the housing market, contrasting the challenges faced by younger generations with the benefits experienced by older ones amid rising home prices and high mortgage rates. The discussion emphasizes the resilience of post-pandemic construction sectors while highlighting the persistent affordability issues that threaten the dream of homeownership for many.