Not coming to America: The 60-year immigration bubble finally bursts
Fox News
U.S. immigration experiences first negative net migration since the 1970s in 2025, ending a 60-year immigration bubble similar to dot.com and housing crashes.
Lora Ries, former acting deputy chief of staff at DHS, is director of The Heritage Foundation’s Border Security and Immigration Center.
The factors that led to these bubbles and bursts in three different industries are surprisingly similar.
The tech bubble grew following the commercialization of the World Wide Web, during a period of rapid internet adoption and technology startups. It was a time of low interest rates and economic optimism. A speculative market frenzy in tech stocks caused the tech-heavy Nasdaq Composite Index to rise from under 1,000 in 1995 to its peak of over 5,000 in March 2000.
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