President Obama was in my neck of the woods today, speaking about the housing market from Desert Vista High School in Ahwatukee. The president described his multi-step plan to boost the housing recovery including the importance of immigration reform and the ultimate elimination of Fannie Mae and Freddie Mac.
The association between Fannie Mae and Freddie Mac, two of the largest mortgage buying organizations in the nation, and the housing recovery makes sense, the mention of immigration reform threw me for a loop. I understand that it is a hot topic here in Arizona, but I didn’t expect the president to mention it during a speech on the housing market.
“Step three is something you don’t always hear about when it comes to the housing market – and that’s fixing a broken immigration system. It’s pretty simple: when more people buy homes, and play by the rules, home values go up for everybody. According to one recent study, the average homeowner has already seen the value of their home boosted by thousands of dollars, just because of immigration. Now, with the help of your Senators, John McCain and Jeff Flake, the Senate has already passed a bipartisan immigration bill that’s got the support of CEOs, labor, and law enforcement. And considering what this bill can do for homeowners, that’s just one more reason Republicans in the House should stop dragging their feet and get this done.”
Perhaps I’m missing something obvious, but I still don’t get the association. Do you understand how immigration reform will improve housing?