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Open the Borders, End the Housing Glut December 11, 2008 Washington, D.C.--As the housing glut continues to send home prices spiraling downward, leaving millions of homeowners unable to unload houses they can’t afford, Washington is debating ways to address the oversupply of housing.   “This crisis was caused by government intervention into the economy, yet every proposal to fix the housing market involves more power for Washington,” said Yaron Brook, executive director of the Ayn Rand Center for Individual Rights. “Instead of more government distortion of markets, we should be looking for ways to get the government off our backs. That will require us to think outside the box, so here’s one--admittedly radical--suggestion to get us started: free up immigration.   “At a time when Americans are suffering from an oversupply of housing, it is tragic that the government continues to forcibly prevent millions of peaceful people around the globe from bringing their wealth, talent, and ambition to this country.   “Imagine if the number of annual immigrants increased from around 650,000 a year to, say, five million. Virtually overnight we would see money pour into the American real estate market, as millions of new businessmen and workers bought and rented homes. Not only would this eliminate the oversupply of houses, we would enjoy the broader, long-term economic benefits of welcoming legions of highly skilled and motivated individuals into the American economy.” ### ### ###   Yaron Brook is executive director of the Ayn Rand Center for Individual Rights. He is a contributing editor of The Objective Standard and his articles have been featured in major publications such as Forbes.com, USA Today, the Houston Chronicle, the Chicago Sun-Times, the Providence Journal and the Orange County Register. Dr. Brook is often interviewed on radio and is a frequent guest on a variety of national TV shows, having appeared in the new Fox Business Network, FOX News Channel, CNN, CNBC, and C-SPAN. Dr. Brook, a former finance professor, lectures on Objectivism, capitalism, business and foreign policy at college campuses, community groups and corporations across America and throughout the world. To interview Dr. Brook or book him for your show, please contact: West Coast: David Holcberg  Irvine, CA (949) 222-6550, ext. 226 davidh@aynrandcenter.org East Coast: Kurt Kramer Washington, DC (202) 454-1997, ext. 101 kurtk@aynrandcenter.org For more information on Objectivism’s unique point of view, go to ARC’s Web site. The Ayn Rand Center is a division of the Ayn Rand Institute and promotes the philosophy of Ayn Rand, author of “Atlas Shrugged” and “The Fountainhead.”

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