Vice President JD Vance says that mass immigration under former President Joe Biden significantly skyrocketed the cost of rent and home prices.
In an interview with Fox News’s Sean Hannity, Vance attributed sky-high home prices to record-setting illegal immigration under Biden — noting that flooding the housing market increases prices on Americans, particularly those first-time home-buyers.
“To me [this] is maybe the most important because I care so much about our young people being able to afford a good life, a lot of young people are saying, ‘Housing is way too expensive,’” Vance said:
Why is that? Because we flooded the country with 30 million illegal immigrants who are taking houses, which ought by right go to American citizens and at the same time, we weren’t building enough new houses to begin with even for the population we have. [Emphasis added]
Vance said the Trump administration is looking to make it easier for home builders to build new homes and make home prices more affordable with fierce interior immigration enforcement.
“What we’re doing is trying to make it easier to build houses, to build factories, and things like that so that people have good jobs,” Vance said. “We’re also getting all of those illegal aliens out of our country and you’re already seeing it starting to pay some dividends.”
Vance also said the key to the nation’s “affordability crisis” is boosting wages for Americans.
“That is where the Trump economy, I think objectively … is just doing better than any economy in 50-60 years,” Vance continued, saying the president wants to “make an economy for people who can afford to buy the things that they need — the best way to do that is good jobs and good wages.”
In September, economists in Denmark published research that found that mass immigration hugely drives up rents and home prices for the local population.
“Our results suggest large and positive impacts of immigration on private rental prices and house prices at the municipal level,” the researchers detail:
More specifically, we find that a one percentage point increase in the local immigration influx over a five-year horizon relative to the local population in the base year 1995 leads to an average increase of approximately 6 percent and 11 percent in private rental prices and house prices at the municipal level, respectively, during the same period.
[Emphasis added]
The newest study is added to decades of published research, which comes to the same conclusion — mainly that mass immigration does impact rent and home prices.
Last year, Center for Immigration Studies researcher Steven Camarota revealed a similar statistic to Congress, stating that “a 5-percentage-point increase in the recent immigrant share of a metro area’s population is associated with a 12-percent increase in the average U.S.-born household’s rent, relative to their income.”
John Binder is a reporter for Breitbart News. Email him at jbinder@breitbart.com. Follow him on Twitter here.
