The chosen Republican presidential candidate is consistently waging a war on immigration, claiming repeatedly that immigrants are stealing American jobs, and are the root of our social problems. By happenstance we took a hard look at population growth in this country about three years ago. While the numbers undoubtedly have changed with new census information, the broader long term trends are the same. The long and short of the data is that without immigration we would have a declining population, lower job growth, lower worker productivity (see WSJ article http://on.wsj.com/2aTfh4I), and a shrinking economy, nearly 70 percent of which is driven by consumer spending.
Our little company has chosen to live and work in one of the more expensive housing markets in the United States. San Francisco is blessed with a Mediterranean climate, a spectacular natural setting, a truly international flair, great recreation and lifestyle choices, and a concentration of highly educated workers, making the Bay Area a perineal favorite for new business development.
A second home purchase is largely a lifestyle decision, based on one's confidence in a career, in personal income, net worth, as well as perceived use. As such, the growth in the industry has been one defined by a general rise in disposable income and by demographic shifts, regardless of buyer source or location. The post WWII emergence of a strong middle class, rising automobile ownership and use providing reasonable access to recreation locations, and the 'age wave' of the Baby Boomer precipitated an increase in the incidence of second home ownership starting in the early 1970's, reaching a crescendo in the 2005 to 2009-time frame.