Blaming immigrants for our increase in wealth

From FactCheck.org:

Vance’s Misleading Claims on Housing Prices and Illegal Immigration

Vice President JD Vance has exaggerated the increase in home prices during President Joe Biden’s time in office and has misleadingly pointed to illegal immigration as a primary cause of a rise in prices.

In a Fox News interview on Nov. 13, Vance said that “the price of a new home literally doubled” under Biden. But home sales price measures show at most a 37% increase. Vance appears to be referring to an increase in the monthly cost of new homes, an increase that factors in a rise in mortgage rates.  

In that interview and in a Dec. 2 Cabinet meeting, Vance pointed to illegal immigration as a primary cause. “Why did homes get so unaffordable?” he said in the Cabinet meeting. “Because we had 20 million illegal aliens in this country taking homes that ought by right to go to American citizens,” he said, using an exaggerated figure.

According to federal data, home prices increased during the Biden administration, but not nearly as much as Vance claimed. The Census Bureau and Department of Housing and Urban Development data show there was a 21.1% increase in the median sales price of new homes, rising from $354,800 in January 2021 to $429,600 in January 2025. 

The National Association of Realtors’ seasonally adjusted annual sales figures show a similar trend for existing single-family homes. In 2024, the national median price was $412,500, a 37.4% increase from 2020, the year before Biden took office.

“There are a couple of things going on,” Vigdor said. “Demographically, birth rates are falling and the population is aging, which will naturally reduce the number of young families looking to purchase a home. That softens the demand side.” He added that “buyers may also be waiting for interest rates to come down, or for macroeconomic uncertainty associated with tariffs and other Trump administration initiatives to resolve.”

“I reported that every immigrant entering a local housing market, which I defined as a county, raises home values by about 11.6 cents,” Vigdor, who released a study in 2013 examining the link between immigration and housing prices, explained in an email. Using the Pew Research Center estimate for the unauthorized population, Vigdor estimated “32,000 unauthorized immigrants in the ‘typical’ American housing market, which suggests a boost to home values of under $4,000, or less than 1% of the current median sales price in the US.”

Steven A. Camarota, director of research for the Center for Immigration Studies, a think tank that supports lower levels of immigration, said in September 2024 testimony to Congress that immigration was driving an increase in demand for rental housing. His analysis, he said, “indicates that a 5-percentage point increase in the recent immigrant share of a metro area’s population is associated with a 12 percent increase in the average U.S.-born household’s rent, relative to their income.” He noted that this was “only a simple correlation and does not include homeowners. Much more detailed analysis would be necessary to confirm this relationship.”

Other experts acknowledge that immigration overall plays a role in the supply and demand of housing, but they also point to larger factors driving home prices in recent years. 

Mark Zandi, chief economist of Moody’s Analytics, also pushed back against Vance’s assertions. “It is misplaced to blame immigration for the runup in house prices since the pandemic,” he told us in an email, noting that “[m]ost new immigrants rent” and the construction industry is “more dependent” than any other “on immigrant workers.”

Frost’s analysis also said that immigrants are strong contributors to the housing supply side as they accounted for 34% of construction trade jobs in 2023, based on Census data.

“The recent flat house prices are unrelated to less immigration, as immigrants generally don’t own homes,” said Zandi, whose work was frequently referenced by the Biden administration. “However, affordability remains a problem given high mortgage rates and the previous runup in house prices, rising homeowner insurance rates, and property taxes.”

This entry was posted in Demographics, Economics, Housing Bubble, National Real Estate. Bookmark the permalink.

85 Responses to Blaming immigrants for our increase in wealth

  1. Chicago says:

    Frist

  2. Fast Eddie says:

    I disagree with Vance, immigration had nothing to do with it. But he is close on the doubling of home prices in some areas of the country. Expand the time horizon a bit.

    But since we’re fact checking, if this blog ever archived the bullshit claims of the Obamy and O’Biden regimes, you’d need ten petabytes of storage.

  3. grim says:

    Want cheaper housing?

    Eliminate all tariffs on building supplies and lumber, copper, etc.
    Nationalize home insurance, or make insurance tax deductible.
    Revert legislation blocking SALT deductibility.
    Federal construction loan program, both large and small scale. Make it stupid simple for individuals to qualify and utilize construction loans.
    Attempt to subvert and revert building codes.
    Attempt to subvert local zoning rules.
    For both of the above, hire an army of lawyers and begin suing municipalities for blocking construction, enacting rent control, etc.
    Nationalized subsidies on affordable housing construction.
    Federal standards for manufactured housing, push for inclusion into building codes.
    Sell federal land to developers for building. Eliminate local zoning governance in these projects.
    Tax breaks for developers, individual tax breaks for new construction (maybe tied to the special construction loan programs above).

  4. Dark Phoenix says:

    What about limiting how many SFH’s an individual, corporation, or venture capitalist can own?

  5. grim says:

    Oh, well now that’s the nuclear option.

  6. Juice Box says:

    Grim there is a reddit thread too.

    Some comments.

    “Basically Montclair used one-time COVID funds to introduce new recurring-cost programs and playing games with pushing off paying their bills. Now the funny business is over”.

    https://www.reddit.com/r/newjersey/comments/1phive8/montclair_meltdown_mysterious_20m_debt_threatens/

    “Clifton did this with the COVID funds, too. We’re pretty fucked this year, and we’re gonna get fucked next year.

    It’s a lot of fuckery.”

    “Wait is this what happened to Toms River? Cause I kept hearing cuts to school budget this summer

    Toms River’s issues since the late 80s can be summed up as Toms River is full of people who either willingfully moved to Toms River, or who can’t figure out how the hell to get out.”

  7. 3b says:

    Chgo: Point taken on Mamdani giving up his rent stabilized apartment. . It’s still ironic though that the Dem Socialist is moving into a mansion. Socialists do like their comforts.

  8. Juice Box says:

    I myself have seen my taxes rise over 10 % in the last year.

    8,800 students across 16 schools down. We should be closing schools instead of raising taxes. There was a plan to do just that consolidate two half empty grammar schools. The moms cried and the board caved.

    Thouse that voted for raising taxes were voted out. However taxes never go down.. 2% cap ha…you get an exemption and can raise it 10%. Annual reassessment came in just last week. What do you know I have a million dollar house now. Why do I feel so poor?

  9. White Trash Eddie says:

    “Toms River’s issues since the late 80s can be summed up as Toms River is full of people who either willingfully wrongfully moved to Toms River, or who can’t figure out how the hell to get out.”

    Fixed it. ;) Toms River is the place that culture avoids. It’s vanilla ice cream at 55 degrees Fahrenheit. It’s purgatory light. It’s five feet above sea level for 25 square miles. Everyone born and raised there should be named ‘Sandy Loam’.

  10. Juice Box says:

    3b – Mamdani does not qualify for that apartment anymore. $258,750 salary and free mansion.

    BTW his $2,300 a month for a one-bedroom in Astoria? He was a NY Assembly man. New York Assembly members earned a base salary of $142,000 the best-compensated in the nation.

  11. Juice Box says:

    Speaking of Property taxes. In the race to keep the Boomer Geezers aging in place NY state has passed a new law.

    Increased Property Tax Exemptions for NY Seniors
    Local Senior Exemptions (Up to 65%):

    What it is: A new law lets local governments (cities, towns, counties) offer seniors up to a 65% reduction in their home’s assessed value, a boost from the previous 50% limit.
    How it works: It reduces the taxable part of your home’s value by a percentage, lowering your bill.
    Eligibility: Must be 65+, own and live in the home, and meet local income limits (which vary).

  12. Dark Phoenix says:

    20m is chump change to the people in Montclair.

    My guess is there are hundreds of families there who have more than that in their retirement accounts.

    A few of them could get together, pony up some cash, and do something good with their lives for their fellow Montclarians.

  13. White Trash Eddie says:

    What it is: A new law lets local governments (cities, towns, counties) offer seniors up to a 65% reduction in their home’s assessed value, a boost from the previous 50% limit.

    Nice! Bring it here! A compassionate program along with VSG’s contribution to my S0cial Security fund will enable me to live quite nicely! I may switch my party loyalty to the s0cialist democrat party upon retirement.

  14. Dark Phoenix says:

    Eligibility: Must be 65+, own and live in the home, and meet local income limits.

    Income limits.

    Not Asset limits. So you can be a billionaire, but make sure you are careful how you trickle those assets into your daily life.

  15. Dark Phoenix says:

    How to purchase a boomer vote. Yet repukes want young women to have children while supporting the oldest and wealthiest.

    You can’t give boomer free everything when you want a large house, like to travel, get your nails done, get massages, and Uber eat your meals every day. That leaves no extra money to afford a 300k child.

  16. Dark Phoenix says:

    “Clifton did this with the COVID funds, too. We’re pretty fucked this year, and we’re gonna get fucked next year.

    I guess fucking is good when you are being fucked by someone you like, and bad when you are fucked by someone you don’t.

  17. 3b says:

    Juice: Could Mamdani have sublet the apartment of he wanted to?

  18. Juice Box says:

    3B – One can legally sublet a rent stabilized apartment in NYC. However, they must request the landlord’s consent and have the intent to return within two years.

    So answer is legally no since they Mayor’s term is 4 years, the landlord can reject the request based on that I gather.

  19. Boomer Remover says:

    Phoenix,
    Sorry but, looks like it’s crickets as nobody here wants to address or position themselves vis-a-vis the issue of turning SFH’s into an investment class.

  20. 3b says:

    Boomer: Large institutional investors should not be allowed to buy up SFH s to turn into rentals.

  21. Juice Box says:

    Why should it matter if it’s a SFH or a multi? Yes there wasn’t a large Single-Family Rental (SFR) market as a formal asset class like today… but rent to own is not something completely new, only the securitization of it.

  22. Juice Box says:

    3b – Why should only apartment buildings be subject to the magic of wall street investment magic?

    You do realize you are talking about legalizing a systemic structure of classism.

  23. 3b says:

    Juice: I have a problem with institutional investors buying up any type of housing and dominating and manipulating the market.

  24. Juice Box says:

    3b – Actually the more I think of the more I believe we should have not repealed Glass-Steagall Act in 1999.

    The massive TBTF – JPM, BAC, Citi, Wells Fargo etc…would not exist today.

    Then there are the others non-banks like Blackrock with a balance sheet of $13.5 trillion……

    Without these massive financial holding companies and non-banks would we still see these massive distortions in the housing markets?

  25. Juice Box says:

    3b – Actually the more I think of the more I believe we should have not repealed Glass-Steagall Act in 1999.

    The massive TBTF – JPM, BAC, Citi, Wells Fargo etc…would not exist today.

    Then there are the others non-banks like Blackrock with a balance sheet of $13.5 trillion……

    Without these large financial holding companies and non-banks would we still see these massive distortions in the housing markets?

  26. Dark Phoenix says:

    Was that before or after post nut clarity?

    Juice Box says:
    December 9, 2025 at 11:00 am
    3b – Actually the more I think of the more I believe we should have not repealed Glass-Steagall Act in 1999.

  27. 3b says:

    Juice: I was always against the repeal of Glass Steagallit worked well . for around 7o years. The reasons to get rid of it as Toledo by our financial experts and bought and paid for politicians is so that we could compete with the EU, since they were going to kick our ass. Deutsche Bank and UBS were going to dominate American IB”s, and we would be left behind. Well, what a joke that was. Deutsche Bank is pathetic and UBS is middling at best.

  28. 3b says:

    Juice: And to answer your question i don’t think we would see these massive distortions in the housing market.

  29. No One says:

    To lower housing prices:
    Deregulate restrictive state and local zoning and land use restrictions.
    Get rid of costly local government permitting monopolies.
    Welcome lower cost immigrant construction labor
    Repeal tariffs on goods and materials used in homebuilding
    Deregulate certifications in plumbing, electrical, etc which restrict competition.
    Trump 1’s lumber and steel tariffs were very costly. Scaring off Mexican labor too.

  30. 3b says:

    Job openings have increased likely do to temporary hires for holiday shopping.

  31. 3b says:

    Let people build granny pods in their backyards space permitting. I would say a lot of towns would have an issue with that. What kind of message does that send about the town? It could negatively impact the haughtiness of the town.

  32. Dark Phoenix says:

    Welcome lower cost immigrant construction labor.

    Now that doesn’t sound very Republican does it?

  33. Juice Box says:

    3b – granny pods? More like pods for Gen Z…..and late Gen Y…

  34. Libturd says:

    “More like pods for Gen Z…..and late Gen Y…”

    Call them Tide Pods. If ya know, ya know.

  35. Dark Phoenix says:

    Was that before or after post nut clarity?

    Part of that was cut off.

    Bill Clinton’s PNC that is.

  36. Dark Phoenix says:

    Release the Epstein files already. Oh, and the 2k for all of us. Oh, and stop that war in Ukraine in the next 24 hours.

    Do something you promised.

  37. Libturd says:

    Might have a hit on the employment tip. Potential shitty commute to LIC, but excellent $$$ opportunity. We’ll see how this plays out. Was the highest end vendor to my former employer attempting to reinvent themselves. Good thing I had a non-compete. More to come, hopefully.

  38. Dark Phoenix says:

    Lib

    Hopefully it will give you a real happy new year.

  39. Juice Box says:

    Dark —-> Massive coverup on the Epstein files in progress.

    Look here…—> A New York federal judge on Tuesday ordered the unsealing of grand jury materials and other documents related to the prosecution of Ghislaine Maxwell, the British socialite convicted in 2021 of procuring underage girls to be sexually abused by Jeffrey Epstein.

    Judge Paul Engelmayer’s order came at the request of the Department of Justice, which cited the Epstein Files Transparency Act that Congress passed last month.

  40. 3b says:

    Lib: Good luck with the potential job hit. I hope it works out for you. Did you mean you don’t have a non-compete?

  41. Dark Phoenix says:

    Ruh Roh

    If you need proof that Americans are struggling financially, here it is.

    Foreclosures — when a bank or lender takes back a home after missed mortgage payments — are continuing to skyrocket.

    New data from ATTOM shows the number of homeowners falling behind is rising every single month.

    In November, 35,651 properties had a foreclosure filing — up a staggering 21 percent from just one year earlier.

    ‘November marks the ninth straight month of year-over-year increases in foreclosure activity, underscoring a trend that has steadily taken shape throughout 2025,’ said Rob Barber, CEO at ATTOM.

  42. Dark Phoenix says:

    The states hit worst in November were Delaware (one in every 1,924 housing units with a foreclosure filing), South Carolina (one in every 1,973), Nevada (one in every 2,373), New Jersey (one in every 2,511), and Florida (one in every 2,565).

  43. Dark Phoenix says:

    Boys, shovel that coal from the tender into the firebox faster.

    This engine is running out of steam!

  44. Libturd says:

    Yes, typed the non-compete backwards. I have no non-noncompete. They weren’t popular back in 1999 when I was hired. :P

  45. Dark Phoenix says:

    Trump to Ukraine. Your losing:

    https://www.youtube.com/watch?v=MPTZJXCMSi4

  46. Juice Box says:

    Lib – Did you not sign an exit agreement for severance?

    Check the fine print there…

  47. Libturd says:

    I did already. I’m clear.

  48. 3b Ta me Anseo says:

    Lib: Got it, that is what I thought you meant. LIC is a schlep, but it is a hooping spot, lots of good restaurants etc form what I have been told.

  49. Juice Box says:

    Lib – Bus to 42nd then hop on the 7 train?

  50. 3b says:

    Juice: Granny Pods Gen Z Pods, whatever., but it is a good way to solve some of the housing problem. As well as help with day care etc.

  51. Chad Powers says:

    3b,
    Since you are of Irish blood do you play the bagpipes? Just wondering.

    During our visit to Ireland in September I was impressed by how friendly the people were. I want to go back for a bit longer in 2026. The down side is I think they have even worse weather than what we have in Germany.

  52. Juce Box says:

    3b – What housing problem are we trying to solve here?

    Affordable homes?
    High Rents?
    High Property Taxes?

    I don’t see how any kind of Granny Pod in your yard is going to solve any of that.

    All it will do is perhaps transfer wealth from granny to you when you move her into the pod instead of the $8,000 a month assisted living.

  53. Juice Box says:

    Interesting about non-compete agreements, they are generally unenforceable in California, but are enforceable in NY and NJ etc.

  54. BRT says:

    Immigration was probably responsible for a small percentage. The larger issue is manipulation of interest rates and endless subsidizing of the market along with printing press/inflation.

  55. BRT says:

    One thing it most definitely did drive up the pricing of was hotel rooms.

  56. VSG says:

    Why is that ironic? He won’t the election

    It’s ironic that you people pollute this blog with right wing extremism while supporting socialist Maoist universal healthcare for the 65 and older, universal income for boomers, bailouts for Argentina and handouts to farming corporations

    3b says:
    December 9, 2025 at 8:12 am
    . It’s still ironic though that the Dem Socialist is moving into a mansion. Socialists do like their comforts.

  57. VSG says:

    Good question

    Dark Phoenix says:
    December 9, 2025 at 7:54 am
    What about limiting how many SFH’s an individual, corporation, or venture capitalist can own?

  58. 3b says:

    Juice: I know that, but I don think the other problems are able to be solved, or I should say the will is not there. Of course a really bad recession might address a lot of the problems, but no one wants that. A granny pod might shake out some more inventory, but granny is still going to want big bucks and property taxes will still be high.

  59. VSG says:

    The president rolled out a $12 billion bailout for farmers as he makes the case that his policy is working — or will soon.

    By David E. Sanger
    David E. Sanger has covered five American presidents and has written about American trade policy from Washington and abroad. Published Dec. 8, 2025
    Updated Dec. 9, 2025, 11:32 a.m. ET

    On President Trump’s proclaimed “Liberation Day” in April, when he announced the tariffs that have upended global trade, he vowed that “jobs and factories will come roaring back into our country.” The imposition of taxes on imports, the president promised, “will pry open foreign markets and break down foreign trade barriers,” leading to lower prices for Americans.

    So far it has not worked out that way, forcing Mr. Trump to move to contain the economic and political damage.

    At the White House on Monday, the president announced $12 billion in bailout money for America’s farmers who have been battered in large part by his trade policies.

  60. 3b says:

    BRT: You are correct, massive manipulation of interest rates. 30 year mortgage rates pushed down to around 3/3.5 in December of 2021, that alone dramatically inflated housing prices.

  61. VSG says:

    The Ann Ryan brigade have nothing to say about federal deficit funding for handouts to farmers

  62. The Great Pumpkin says:

    What is the alternative? Would cutting off liquidity—the fuel for the economy—crash it entirely? Do people genuinely believe they would have been better off with deflating home prices? Those who argue for such measures are lost in the woods and fail to grasp the complexity of the economy.

    3b says:
    December 9, 2025 at 12:48 pm
    BRT: You are correct, massive manipulation of interest rates. 30 year mortgage rates pushed down to around 3/3.5 in December of 2021, that alone dramatically inflated housing prices.

  63. 3b says:

    VSG: It is Ironic, because the last 3 mayors have not lived in Gracie Mansion. Bloomberg was the first to opt not to live in it during his 3 terms as Mayor> he said Gracie Mansion should be open to the people of NYC and public events held there. He also said a Mayor should not have free housing, and it costs the city more to have the mayor living there. Of course Bloomberg was a billionaire, but like him or not, he came from humble beginnings and worked his whole life. Not like your boy Mamdani. Di Balsio and Adams who came from humble means also chose not to live in Gracie Mansion.

    Now along comes your boy Mamdani, the proud Dem Socialist, the child of wealth and privilege who never had a job is moving into a gated mansion so he can work hard on making NYC affordable. If you cant see the irony it is because you refuse to, as you are blinded. Much easier just to repeat the same thing over and over. As for universal health care I never said I was opposed to it. And, I asked how it would work in your opinion, but you declined to answer, as you don t have a thought as to how it would work. It is just easier to do your mantra scntick that you do, as there is no thought involved.

  64. 3b says:

    Propped up manipulated markets cause massive problems. Excess needs to be weeded out. Can’t have capitalism on the way up, and socialism on the way down. That is the risk in a capitalist system.

  65. The Great Pumpkin says:

    I hope you were buying BTC/Crypto only if you can emotionally handle the volatility. It’s still fire-sale (free) prices; time is running out.

  66. The Great Pumpkin says:

    We must understand what is at play. Money compels people and corporations to act. If you tighten liquidity, people and corporations lose the ability to initiate new projects. Growing economies, especially during innovative revolutions like the current one, require ample liquidity to move forward.

    3b says:
    December 9, 2025 at 1:05 pm
    Propped up manipulated markets cause massive problems. Excess needs to be weeded out. Can’t have capitalism on the way up, and socialism on the way down. That is the risk in a capitalist system.

  67. 3b says:

    According to a Morgan Stanley report (it is a dated report, 2019), by 2030 45 percent of women 25 to 44 will be single and child free. I dont t remember if we discussed that here, its been 6 years. Nothing has changed in the last 6 years to change that assertion as far as I can see.

  68. The Great Pumpkin says:

    That’s how you lower the price of future single-family housing.

    3b says:
    December 9, 2025 at 1:41 pm
    According to a Morgan Stanley report (it is a dated report, 2019), by 2030 45 percent of women 25 to 44 will be single and child free. I dont t remember if we discussed that here, its been 6 years. Nothing has changed in the last 6 years to change that assertion as far as I can see.

  69. The Great Pumpkin says:

    How is this sustainable?

    “The Chinese manufacturing juggernaut shows little sign of slowing. China reported a goods trade surplus of more than $1 trillion for the year through November, while manufacturing output in the first 10 months of the year was up 7% compared with the same period in 2024.

  70. The Great Pumpkin says:

    Ai’s take…

    “Analysis: Sustainability of China’s Manufacturing Juggernaut

    The sustainability of China’s high-growth, export-oriented manufacturing model is being challenged by a dynamic interplay of domestic structural issues and volatile global economic conditions. While the current output figures are strong, several long-term factors suggest the model must evolve to remain viable.

    1. Internal Structural Challenges (The Domestic Squeeze)

    Maintaining high manufacturing growth rates faces increasing friction within China’s own borders:

    A. Demographics and Labor Costs

    The Problem: The era of cheap, virtually unlimited labor is over. China’s working-age population has been shrinking since 2012, and the dependency ratio (retirees supported by workers) is climbing rapidly.

    Impact on Costs: This demographic shift drives up wages for manufacturing workers, eroding China’s competitive advantage over emerging, lower-cost economies like Vietnam, India, and Mexico. The rising cost of labor directly threatens the profitability of low-margin export goods.

    B. Environmental and Resource Limits

    The Problem: Decades of rapid industrialization have resulted in severe environmental degradation (air and water pollution) and intense competition for resources.

    Impact on Sustainability: The government is pushing for cleaner, higher-value manufacturing (moving from “Made in China” to “Innovated in China”). This transition requires massive investment and often necessitates slowing down the most polluting, high-volume sectors. Continuous 7% growth in old-style manufacturing is environmentally and resource-intensive, making it politically and physically unsustainable.

    C. Domestic Debt and Real Estate Risk

    The Problem: Much of China’s economic stability relies on massive infrastructure and real estate investments financed by provincial debt and shadow banking.

    Impact on Growth: This has created significant non-performing loans and solvency issues in key sectors. The government must focus resources on deleveraging and stabilizing the financial system, which diverts capital away from supporting pure manufacturing expansion.

    2. External Global Challenges (The Demand and Policy Squeeze)

    The global environment is becoming less receptive to consistently massive Chinese trade surpluses:

    A. Deglobalization and Supply Chain Diversification

    The Problem: Geopolitical tensions (especially with the U.S. and Europe) and the COVID-19 pandemic have prompted Western corporations to adopt a “China + 1” strategy. This involves diversifying supply chains to reduce reliance on any single country.

    Impact on Demand: This trend leads to “friend-shoring” or “near-shoring,” meaning manufacturing jobs and capacity are moving out of China and into geopolitical allies (like India, Mexico, and Vietnam). This directly threatens China’s status as the sole global manufacturing center and caps the potential for ever-increasing export volumes.

    B. Trade Barriers and Policy Friction

    The Problem: A trade surplus exceeding $1 trillion often triggers policy responses in importing countries. Trading partners view such huge imbalances as indicative of unfair currency practices or state subsidies, leading to tariffs and non-tariff barriers.

    Impact on Exports: High tariffs directly raise the cost of Chinese goods for foreign consumers, diminishing demand and making future 7% growth projections increasingly difficult to achieve without significant price cutting, which further strains profit margins.

    3. The Path to Future Sustainability

    China’s current strategy acknowledges these issues and is explicitly shifting away from the old model. The sustainability of its economy hinges on the success of these policy transitions:

    Old Model (Unsustainable)

    New Model (Sustainable Goal)

    Growth Driver: Low-cost labor, Mass Exports (Volume)

    Growth Driver: Domestic Consumption, High-Value Exports (Value)

    Key Sectors: Textiles, basic assembly, cheap commodities

    Key Sectors: Semiconductors, AI, Electric Vehicles (EVs), Green Technology

    Strategy: High debt, rapid infrastructure build-out

    Strategy: “Dual Circulation” (balancing strong domestic demand with targeted, high-tech exports)

    In summary, the high figures cited reflect the inertia of a massive economic engine, but they mask deep structural vulnerabilities. To sustain its growth, China cannot rely on the volume of low-cost manufacturing; it must successfully transition to an economy driven by domestic innovation, cleaner energy, and sophisticated, high-value technological exports.”

  71. VSG says:

    It’s Ironic that you people don’t have much to say about the destruction of the White House to build the largest sterile room in the world

    3b says:
    December 9, 2025 at 1:03 pm
    VSG: It is Ironic,

  72. D-FENS says:

    I don’t really care honestly…but if you forced me to have an opinion, it sounds like an improvement. Not destruction.

    VSG says:
    December 9, 2025 at 3:44 pm
    It’s Ironic that you people don’t have much to say about the destruction of the White House to build the largest sterile room in the world

  73. White Trash Eddie says:

    It’s Ironic that you people don’t have much to say about the destruction of the White House to build the largest sterile room in the world

    It needs to be sterile in order to perform experiments on liberals.

  74. VSG says:

    The White House is a historic building. It represents America.

    Your hair would be on fire if it was Obama

    D-FENS says:
    December 9, 2025 at 4:18 pm
    I don’t really care honestly…but if you forced me to have an opinion, it sounds like an improvement. Not destruction.

  75. 3b says:

    VSG: The White House was gutted during the Truman administration’s, due to structural issues and poorly built additions over the years. The only than original is the facade. Also, when the inside was rebuilt, they chose to use a lot of cheap/ fake materials due to cost over runs at the time. As for the ballroom from what I understand from neutral sources, not having a large dedicated space for functions was an issue. I am sure it’s going to be ostentatious and loud and gaudy, filled with gold marble etc. Perhaps the next President will be able to soften/ warm up the space.

  76. Libturd says:

    “Lib – Bus to 42nd then hop on the 7 train?” Exactly or the E.

  77. Dark Phoenix says:

    Flip flop. You’re hot and you’re cold you’re yes and you’re no you’re in and you’re out you’re up then you’re down.

    President Donald Trump, after initially saying he had “no problem” with releasing the video of the Sept. 2 strike on an alleged drug boat in the Caribbean Sea that killed two survivors, is now reversing course and deferring to Defense Secretary Pete Hegseth.

    “I didn’t say that,” Trump claimed when pressed on Monday by ABC News Senior Political Correspondent Rachel Scott about his Dec. 3 comments.

  78. chicagofinance says:

    It’s a good question. He certaily might have, but the point that he had it in the first place is insulting, given his rhetoric. He is basically trying to shield what he is from the public.
    Someone took a video of Mamdani at his apartment in Astoria.
    https://www.youtube.com/watch?v=WL15eTRcAsg

    3b says:
    December 9, 2025 at 9:20 am
    Juice: Could Mamdani have sublet the apartment of he wanted to?

  79. Dark Phoenix says:

    The Unit.

    Gold based trading.

    Should be interesting

  80. Dave - “ Mantolooker” says:

    Lib, Very, very happy for you. I have tuned in here since back in the J.J. days ( and nights ). You had mentioned going west some time ago when you visited some really nice places out there. I always learn a lot from “ Captain Cheapo “. Hope you stay in the area… “ on your terms “. Kindness, and Respect always. Dave ( former S. Mantoloking / Brick Beach, now New Smyrna Beach, FL)

  81. VSG says:

    BREAKING NEWS!

    Democrats flip Miami mayor’s office, winning control for first time in nearly 30 years
    BY CAROLINE VAKIL – 12/09/25 7:10 PM ET

  82. VSG says:

    EILEEN HIGGINS FLIPS MIAMI MAYOR’S OFFICE DEMOCRAT FOR THE FIRST TIME IN NEARLY 30 YEARS

  83. DoAFavorForTheCountry GetAGenZLaid says:

    Talking about JJ.

    JJ needs to do an intervention with that little NotSee Fuentes. The little dweeb loser admits in Piers Morgan interview that he’s a virgin at 27.

    That repression shows where his nitwit anger comes from. The dude is gay, molested by a priest or just a loser that loves the smell of old priest. He’s one of those that promotes catholic integralism aka catholic theocracy, which seems to be very popular with the tech lord nerds.

    That little twerp needs the equivalent of the lady that plays the wife in Landman.

    The boomers had to much nookie, the Gen Z seem to be the castrated generation.

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