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The U.S. has underbuilt housing for some time [0], so it seems likely that cutting production in half would have a significant effect, even if it’s partly offset by lower demand in the form of lower immigration.

[0]: https://investors.zillowgroup.com/investors/news-and-events/...

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I think you hit downvote before really considering my point. There is simply no way that a change of 0.5% is significant - no matter your politics. Fluctuations of this magnitude happen with or without Trump every few years.

The relevant comparison is to annual construction, not the total inventory. Looking at recent data, variations of 0.5 percent (~700,000) have happened, but they were due to large shocks like Covid or post-Covid inflation.

This argument feels analogous to saying “there’s no way a granola bar can affect your hunger, its calorie count is negligible compared to all the calories your body has stored.”

A used granola bar cannot be resold. I hope. A used house, on the other hand, is perfectly fine.

So, apologies, but that argument is a previously used granola bar :)

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