Peter Thiel: Migration spikes housing costs, impoverishes young people

By Neil Munro | Breitbart

Migration is helping to wreck the nation’s housing market and impose huge costs on young Americans, investor Peter Thiel told the Free Press news site.

“The way I model what’s happened in the U.S., in Britain, Canada, a lot of the Anglosphere countries is a … real estate catastrophe,” said Thiel, a billionaire who made his fortune in Silicon Valley by creating Paypal and other Internet-based companies.

Even small migration inflows can cause large increases in housing costs, especially in districts where there is little construction, Thiel said, adding:

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