Immigrants are driving the housing recovery

Many Americans leave the big cities and immigrants are moving in and saving the cities and the housing markets.   - - Donna Poisl

By John Feinblatt and Jason Marczak, Special to CNN

(CNN) -- Nearly five years after the housing bubble burst, American homeowners are beginning to see signs of relief as housing markets are finally showing signs of recovery. An untold story of this recovery, however, is the extent to which it is fueled by immigration.

A new analysis of U.S. Census data by Americas Society/Council of the Americas and Partnership for a New American Economy shows that immigrants have collectively added $3.7 trillion to U.S. housing wealth. And over the last several years, as many families in cities and rural areas from the Sun Belt to Rust Belt have seen their largest personal asset -- the home they live in -- placed in jeopardy, the inflow of immigrants has been a lifeline for them.
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