Republican vice presidential nominee JD Vance shared evidence CBS's Margaret Brennan asked for during Tuesday night’s debate regarding a claim he made about the illegal immigration crisis contributing to the rising cost of housing in the nation.
“Twenty-five million illegal aliens competing with Americans for scarce homes is one of the most significant drivers of home prices in the country,” the Republican senator said during the debate. “It's why we have massive increases in home prices that have happened right alongside massive increases in illegal alien, alien populations under Kamala Harris's leadership.”
Brennan later followed up on that claim, coming back to Vance to explain.
“There are many contributing factors to high housing costs,” she said. “What evidence do you have that migrants are part of this problem?”
“Well, there's a Federal Reserve study that we're happy to share after the debate,” he replied. “We'll put it up on social media. Actually, that really drills down on the connection between increased levels of migration, especially illegal immigration, and higher housing prices. Now, of course, Margaret, that's not the entire driver of higher housing prices. It's also the regulatory regime of Kamala Harris. Look, we are a country of builders. We're a country of doers. We're a country of explorers. But we increasingly have a Federal administration that makes it harder to develop our resources, makes it harder to build things, and wants to throw people in jail for not doing everything exactly as Kamala Harris says that they have to do. And what that means is that you have a lot of people who would love to build homes who aren't able to build homes. I actually agree with Tim Walz. We should get out of this idea of housing as a commodity. But the thing that has most turned housing into a commodity is giving it away to millions upon millions of people who have no legal right to be here.”
Sure enough, Vance followed through on the promise shortly afterwards.
Here are two more studies to go with it:
— JD Vance (@JDVance) October 2, 2024
"Immigration inflows into a particular Metropolitan statistical area (MSA) is associated with increases in rents and with house prices in that MSA while also seeming to drive up rents and prices in neighboring MSAs."…