For ads-free news, click here.
From Fox Business: Republican vice presidential nominee Sen. JD Vance, R-Ohio, followed through on his promise to cite the source of a claim he made about immigration driving up U.S. housing costs during the CBS News Vice Presidential Debate on Tuesday night.
In the showdown with fellow vice presidential hopeful Minnesota Gov. Tim Walz, Vance blamed Vice President Kamala Harris’ border policies for allowing “25 million illegal aliens” into the U.S. during her tenure in the Biden-Harris administration, saying the surge of migrants has contributed to higher housing prices.
“Competing with Americans for scarce homes is one of the most significant drivers of home prices in the country,” Vance said. “It’s why we have massive increases in home prices that have happened right alongside massive increases in illegal aliens, alien populations under Kamala Harris’ leadership.”
A moderator then asked Vance to cite the source of his claim, saying, “Senator, on that point, I’d like for you to clarify there are many contributing factors to high housing costs. 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,” Vance said. “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.”
WATCH:
#VPDebate2024 President Trump’s VP JD Vance:
“We do want to blame Kamala Harris for letting in millions of illegal aliens into this country which does drive cost up. 25 million illegal aliens competing with Americans for scarce homes is one of the most significant drivers of… pic.twitter.com/n2PrteaJub
— AJ Huber (@Huberton) October 2, 2024
Late Tuesday night, Vance posted the proof – a link to a report straight from the Federal Reserve website. He wrote:
As promised earlier tonight, here is Michelle Bowman of the Federal Reserve Board of Governors: “Given the current low inventory of affordable housing, the inflow of new immigrants to some geographic areas could result in upward pressure on rents.”
https://federalreserve.gov/newsevents/speech/bowman20240503a.htm
Providing more proof, he added:
Here are two more studies to go with it:
“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.”
https://sciencedirect.com/science/article/abs/pii/S1051137717300025
“The research literature has generally found that increases in immigration raise state and local governments’ spending—particularly on education, health care, and housing—more than their revenues.”
https://cbo.gov/publication/60569
Here are two more studies to go with it:
“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.”…
— JD Vance (@JDVance) October 2, 2024
IMPORTANT MESSAGE TO ALL DML NEWS APP READERS ABOUT COMMENTS ON ARTICLES: The feature on our website that automatically approves comments is currently down. We are hoping it will be fixed this week, but it is out of our control. We are making every effort to come in every few minutes and manually push all pending comments out. We apologize for the inconvenience and ask for your patience and understanding until this matter is resolved. Please DO continue posting your comments. Your interaction and feedback is still very important to us. As usual, comments calling for violence or death toward any individual are not permitted.
The Dennis Michael Lynch Podcast archive is available below, with the most recent on top. Never miss an episode. Subscribe to the show by downloading The DML News App or go to Apple Podcasts.
