There are not enough Young Americans anymore. That sound weird but true. Also a college grad fresh out of college can not compete with the huge supply of experienced and better Indian/Chinese/Korean engineers.
Yes, my skills are diluted when competing against billions of people, rather than millions.
Everyone knows that people subconsciously prefer to hire people who look like them. This affects Asians too. It’s self evident that organizations with Asian hiring managers prefer to hire their own people. I know this won’t sit well with some people here, but it’s observably true nonetheless.
An expanding economy which is increasing in specialization requires additional workers to fill these specialized niches. If native fertility rates are declining, then immigrants are likely to fill these roles.
Edit: I wonder to what extent the US current account deficit is funding west coast real estate valuations. I know Chinese cash buyers were a big part of the Vancouver price increases.
Housing prices are inversely correlated with the property tax rate on real estate and the income tax rate on capital gains. A decline in either real estate property taxes or capital gain income taxes increases housing prices, by making land more attractive as an investment. This effect is independent of the population of the country. If it becomes more attractive to put money into land rather than in businesses which employ workers, and changes to the tax code cause an increase in land banking, then the price of land increases faster than wages and salaries used to buy it regardless of the level of population of the country.
Taxing earned income of younger families via payroll taxes at a much higher rate than unearned increment of land via property taxes and capital gains taxes is basically a very slow moving form of national suicide.
This is true for your second point, specifically pointing out that asians hire other asians. This is true for white Americans as well. So, how is that any different?