Throughout Tuesday’s vice-presidential debate, Sen. JD Vance (R-Ohio) blamed soaring housing costs on a spike in immigration over the past few years — promising that a crackdown on illegal immigration and “kicking out illegal immigrants who are competing for those homes” would help affordability.
“Twenty-five million illegal aliens competing with Americans for scarce homes is one of the most significant drivers of home prices in the country,” Vance said.
That claim has been debunked by economists and housing experts, who say that other forces have played a much bigger role in driving up prices and that illegal immigration is not a top reason prices are high. Immigration may be helping to keep rents elevated in some areas, though.
Foreign-born workers also make up roughly a third of the construction workforce, a crucial part of the push to build millions of new homes and fix years-long shortages. That means the strict immigration crackdown Vance and former president Donald Trump are proposing could send prices even higher.
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“I don’t think [new immigrants] are demanding the same type of dwellings that are pulling up prices,” said Dany Bahar, an economist at Brown University and nonresident senior fellow at the Brookings Institution. “These people are not competing for the same households as middle-class Americans.”
Immigration has undoubtedly changed the U.S. economy, especially since the pandemic. About 50 percent of the labor market’s extraordinary recent growth came from foreign-born workers between January 2023 and January 2024, according to an Economic Policy Institute analysis of federal data. Before that, by the middle of 2022, the foreign-born labor force had grown so fast that it closed the gap created by the pandemic, according to research from the San Francisco Fed.
In February, estimates from the Congressional Budget Office said the U.S. labor force will increase by 5.2 million people by 2033, thanks especially to net immigration. The economy is projected to grow by $7 trillion more over the next decade than it would have without new influxes of immigrants, according to the CBO.
A larger population, in turn, creates more demand for housing and other services. CBO research from July noted that higher immigration raises state and local governments’ spending — particularly on education, health care and housing — more than it increases their revenue.
Yet housing options for new immigrants, including many undocumented workers in lower-wage jobs, are often distinct from the broader market that native-born workers deal with. Mark Zandi, chief economist at Moody’s Analytics, noted that many new immigrants come to the United States with few financial resources and little income. They often double- or triple-up with friends or family in a single home. They are also far less likely to be able to buy a home, which can require a sizable down payment and enough credit history to get a mortgage.
That can mean more pressure for the rental market, where affordability issues are also front and center.
In testimony before Congress last month, Steven A. Camarota, director of research for the conservative Center for Immigration Studies, tied the post-pandemic run-up in rental costs to the growing number of immigrant renters.
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“This is certainly consistent with the possibility that immigration, including illegal immigration, has significantly increased housing prices in areas of heavy immigrant settlement,” Camarota said.
Yet it’s not clear exactly how much immigration has influenced the overall rental market.
Rent costs shot up in 2021 and 2022 on the heels of the pandemic, as people reconsidered where they wanted to live and suddenly competed for the same units. But new leases have since stabilized considerably, and rates are even falling in some cities. On average, apartments are slightly cheaper today than they were one year ago, according to Apartment List’s rental tracker, and have stayed in the red for months.
During the debate, Vance alluded to what he said was a Federal Reserve study that “really drills down on the connection between increased levels of migration, especially illegal immigration, and higher housing prices.” After the debate, he posted a May 2024 speech by Fed Governor Michelle Bowman in which she seemed a bit less certain, saying, “Given the current low inventory of affordable housing, the inflow of new immigrants to some geographic areas could result in upward pressure on rents, as additional housing supply may take time to materialize.”
Vance seemed to be referring to the for-sale market, which has been in the throes of a different kind of upheaval. When the Fed slashed interest rates to near zero at the beginning of the pandemic, mortgage rates fell, meaning scores of home buyers locked in rates around 3 or 4 percent. Then, rates went on an upward tear as the Fed hoisted borrowing costs to tame inflation, peaking around 8 percent last fall.
The result: Millions of homeowners who might otherwise have sold their homes stayed put to keep their low mortgages. That “lock-in” effect could soon start to undo itself, as interest rates drop. But that may also inject more demand into the market, making it harder for lower-income and first-time buyers to get in.
The Trump campaign did not immediately respond to a request for comment on Vance’s remarks.
Zoomed out, experts broadly agree that the country needs more housing. Vice President Kamala Harris says she wants to help build 3 million new homes, give state and local governments incentives to invest in housing, and create a multibillion-dollar tax credit program to make affordable projects pencil out for builders. The campaign has also promoted a $25,000 assistance plan to help first-time buyers.
Some economists have criticized those plans as having the potential to juice demand and drive prices up, though.
During the debate, Walz said that “we can’t blame immigrants for the only reason” housing has become unaffordable.
“The fact of the matter is that we don’t have enough naturally affordable housing. But we can make sure that the government’s there to help kick-start it,” Walz said.
White House Council of Economic Advisers Chair Jared Bernstein said Vance doesn’t understand the housing market, telling The Washington Post, “If you get the diagnosis wrong, as Vance did, you’ll never solve the problem.”
Housing policy doesn’t just fall to the federal government — it’s more like a tangled web of state and local laws, including zoning. But building new homes requires workers.
Trump’s proposals to deport millions of undocumented immigrants — which would be exceedingly difficult to carry out — would bring major consequences for the construction industry and the overall housing market if he succeeds. In a widely cited February paper, researchers at the University of Utah and the University of Wisconsin found that higher immigration enforcement reduced the number of construction workers and led to less home building and higher home prices. The paper also found that “undocumented labor is a complement to domestic labor,” and that deporting undocumented construction workers also cut back on the labor supplied by domestic workers.
Pretty much dead even on "who won". Republicans said Vance won, D's to Walz. Unaffiliated broke slightly to Walz, but probably not statistically significant. I think what we can see is that it is Trump who is creating the coarseness of the debate and the anger in this country. I think the civility of these exchanges is yet more evidence of what we already knew. JFC, let's get him out of the public eye once and for all.
That's like comparing Creed's best song to PJ's worst song, and using that as evidence that creed is better. You're taking the best month under the last 4 years and comparing it to one of the highest months under Trump and claiming the numbers are better. Comparing the whole term, or even year to year, its still not that close.
Huh? What? It is lower now than it was in 2020 and also 2019. That's two years/Creed songs. That would be both of the last two years of Trump's term. It's also just above where it was during Trump's first year in 2017....and clearly trending in the right direction.
Mace, buddy, I know you like finding excuses for Trump at every possible turn, but the fact is the situation at the border is vastly improved and not far off from the averages of the last 16 years.
Now, if you will, just imagine how much better than this it would even be if Trump did not kill the border bill earlier this year. If Kamala wins, that thing will get passed.
Agreed...and like Walz said, at least the current procedures are humane. The GOP idea of thinking you can keep migrants away by making them think they will never see their kids again is just fucking wrong and likely a violation of human rights.
Yep. And how about Vance blaming illegal aliens for rising home prices last night? What a fucking idiot.
Trump says they are taking black people's jobs (implying poor people's jobs) while Vance implies they are bidding on $500,000 houses and driving the prices up and shit.
These people vilify for the sake of vilifying. Disingenuous bastards.
Now some might argue that a bank can't lend to someone that is in the country illegally. But the reality is that the migrant jobs pay so well, they are buying homes in cash. That's YOUR money they are making out in the sugar cane fields and have a half million to burn on a home, when they could get deported any day.
It’s called housing, not single family homes. Apartments, condos, weekly rentals etc. Illegals aren’t buying houses. They are renting houses/rooms or apartments leased through a legal relative or friend. Throw 10,000 in a town with limited rentals available? Do you really think that is going to make costs go down? It’s supply and demand.
It’s this simpleton mindset and lack of common sense that makes the majority of Americans laugh at the radical left. It’s also their concept of the economy that wants to give Kamala Harris the chance to fix the inflation she caused. Fortunately her numbers are plummeting and we will be spared for at least 4 more years.
Okay so here we go with the answer. That article was nice enough to quote JD.
"Twenty-five million illegal aliens competing with Americans for scarce homes is one of the most significant drivers of home prices in the country,”
He said illegal immigrants are competing for scarce homes (not housing). Again, you need a social to get a loan and buy a home and therefore be a driver of home prices. If you're an illegal immigrant, you can't buy a house.
Pretty much dead even on "who won". Republicans said Vance won, D's to Walz. Unaffiliated broke slightly to Walz, but probably not statistically significant. I think what we can see is that it is Trump who is creating the coarseness of the debate and the anger in this country. I think the civility of these exchanges is yet more evidence of what we already knew. JFC, let's get him out of the public eye once and for all.
That's like comparing Creed's best song to PJ's worst song, and using that as evidence that creed is better. You're taking the best month under the last 4 years and comparing it to one of the highest months under Trump and claiming the numbers are better. Comparing the whole term, or even year to year, its still not that close.
Huh? What? It is lower now than it was in 2020 and also 2019. That's two years/Creed songs. That would be both of the last two years of Trump's term. It's also just above where it was during Trump's first year in 2017....and clearly trending in the right direction.
Mace, buddy, I know you like finding excuses for Trump at every possible turn, but the fact is the situation at the border is vastly improved and not far off from the averages of the last 16 years.
Now, if you will, just imagine how much better than this it would even be if Trump did not kill the border bill earlier this year. If Kamala wins, that thing will get passed.
Agreed...and like Walz said, at least the current procedures are humane. The GOP idea of thinking you can keep migrants away by making them think they will never see their kids again is just fucking wrong and likely a violation of human rights.
Yep. And how about Vance blaming illegal aliens for rising home prices last night? What a fucking idiot.
Trump says they are taking black people's jobs (implying poor people's jobs) while Vance implies they are bidding on $500,000 houses and driving the prices up and shit.
These people vilify for the sake of vilifying. Disingenuous bastards.
Now some might argue that a bank can't lend to someone that is in the country illegally. But the reality is that the migrant jobs pay so well, they are buying homes in cash. That's YOUR money they are making out in the sugar cane fields and have a half million to burn on a home, when they could get deported any day.
It’s called housing, not single family homes. Apartments, condos, weekly rentals etc. Illegals aren’t buying houses. They are renting houses/rooms or apartments leased through a legal relative or friend. Throw 10,000 in a town with limited rentals available? Do you really think that is going to make costs go down? It’s supply and demand.
It’s this simpleton mindset and lack of common sense that makes the majority of Americans laugh at the radical left. It’s also their concept of the economy that wants to give Kamala Harris the chance to fix the inflation she caused. Fortunately her numbers are plummeting and we will be spared for at least 4 more years.
Did he say the price of homes or cost of housing? Two different things. The poster said "rising home prices". And the reason for all of this is the shortage of housing coupled with private equity and REITS buying properties and distorting the market.
exactly.
the right is out here saying it is illegal immigrants. last i checked you needed a social security number to get a loan/buy a house.
I know several illegals who own homes. I’m not aware of the process they used to pay for it, but illegals can certainly buy a home
One of the most important steps you must take to be able to buy a house in the United States is to request the ITIN Number.
The ITIN is similar to the Social Security Number (SSN), but it is only used to pay taxes. Still, by having one, you can apply for a personal loan and buy a home in New Jersey or another state.
Pretty much dead even on "who won". Republicans said Vance won, D's to Walz. Unaffiliated broke slightly to Walz, but probably not statistically significant. I think what we can see is that it is Trump who is creating the coarseness of the debate and the anger in this country. I think the civility of these exchanges is yet more evidence of what we already knew. JFC, let's get him out of the public eye once and for all.
That's like comparing Creed's best song to PJ's worst song, and using that as evidence that creed is better. You're taking the best month under the last 4 years and comparing it to one of the highest months under Trump and claiming the numbers are better. Comparing the whole term, or even year to year, its still not that close.
Huh? What? It is lower now than it was in 2020 and also 2019. That's two years/Creed songs. That would be both of the last two years of Trump's term. It's also just above where it was during Trump's first year in 2017....and clearly trending in the right direction.
Mace, buddy, I know you like finding excuses for Trump at every possible turn, but the fact is the situation at the border is vastly improved and not far off from the averages of the last 16 years.
Now, if you will, just imagine how much better than this it would even be if Trump did not kill the border bill earlier this year. If Kamala wins, that thing will get passed.
Agreed...and like Walz said, at least the current procedures are humane. The GOP idea of thinking you can keep migrants away by making them think they will never see their kids again is just fucking wrong and likely a violation of human rights.
Yep. And how about Vance blaming illegal aliens for rising home prices last night? What a fucking idiot.
Trump says they are taking black people's jobs (implying poor people's jobs) while Vance implies they are bidding on $500,000 houses and driving the prices up and shit.
These people vilify for the sake of vilifying. Disingenuous bastards.
Now some might argue that a bank can't lend to someone that is in the country illegally. But the reality is that the migrant jobs pay so well, they are buying homes in cash. That's YOUR money they are making out in the sugar cane fields and have a half million to burn on a home, when they could get deported any day.
It’s called housing, not single family homes. Apartments, condos, weekly rentals etc. Illegals aren’t buying houses. They are renting houses/rooms or apartments leased through a legal relative or friend. Throw 10,000 in a town with limited rentals available? Do you really think that is going to make costs go down? It’s supply and demand.
It’s this simpleton mindset and lack of common sense that makes the majority of Americans laugh at the radical left. It’s also their concept of the economy that wants to give Kamala Harris the chance to fix the inflation she caused. Fortunately her numbers are plummeting and we will be spared for at least 4 more years.
Okay so here we go with the answer. That article was nice enough to quote JD.
"Twenty-five million illegal aliens competing with Americans for scarce homes is one of the most significant drivers of home prices in the country,”
He said illegal immigrants are competing for scarce homes (not housing). Again, you need a social to get a loan and buy a home and therefore be a driver of home prices. If you're an illegal immigrant, you can't buy a house.
I'll take your apology any time.
Home doesn’t necessarily mean a single family house. Everyone goes home from work. Kids go home from school. Home is wear you stay or live. It can be a house, apartment, condo, weekly or a tent in the woods. You’re just arguing for the sake of arguing. The majority of illegals aren’t buying single family houses.
One of the most important steps you must take to be able to buy a house in the United States is to request the ITIN Number.
The ITIN is similar to the Social Security Number (SSN), but it is only used to pay taxes. Still, by having one, you can apply for a personal loan and buy a home in New Jersey or another state.
Man, you have to read carefully. This is for a person who is undocumented but then they give you a path to become documented and at that point, you can buy a home. In other words, an illegal has to become legal and then can buy it.
What Does An Immigrant Need To Buy A House?
Depending on the immigration scenario where the aliens are, they require one of the following documents, status or immigration relief:
Green Card. If immigrants have obtained a Green Card, they will be able to benefit from some advantages similar to those of an American citizen. For example, paying only 3% of the initial payment, compared to an undocumented person.
Valid work visa. Some of these visas may give access to loans from the Federal Housing Administration (FHA).
Being a refugee or asylee. Immigrants who have requested asylum can also opt for mortgages. To do this, you must have Form I-94 and an authorized employment document for at least 90 days from your entry into the country.
Pretty much dead even on "who won". Republicans said Vance won, D's to Walz. Unaffiliated broke slightly to Walz, but probably not statistically significant. I think what we can see is that it is Trump who is creating the coarseness of the debate and the anger in this country. I think the civility of these exchanges is yet more evidence of what we already knew. JFC, let's get him out of the public eye once and for all.
That's like comparing Creed's best song to PJ's worst song, and using that as evidence that creed is better. You're taking the best month under the last 4 years and comparing it to one of the highest months under Trump and claiming the numbers are better. Comparing the whole term, or even year to year, its still not that close.
Huh? What? It is lower now than it was in 2020 and also 2019. That's two years/Creed songs. That would be both of the last two years of Trump's term. It's also just above where it was during Trump's first year in 2017....and clearly trending in the right direction.
Mace, buddy, I know you like finding excuses for Trump at every possible turn, but the fact is the situation at the border is vastly improved and not far off from the averages of the last 16 years.
Now, if you will, just imagine how much better than this it would even be if Trump did not kill the border bill earlier this year. If Kamala wins, that thing will get passed.
Agreed...and like Walz said, at least the current procedures are humane. The GOP idea of thinking you can keep migrants away by making them think they will never see their kids again is just fucking wrong and likely a violation of human rights.
Yep. And how about Vance blaming illegal aliens for rising home prices last night? What a fucking idiot.
Trump says they are taking black people's jobs (implying poor people's jobs) while Vance implies they are bidding on $500,000 houses and driving the prices up and shit.
These people vilify for the sake of vilifying. Disingenuous bastards.
Now some might argue that a bank can't lend to someone that is in the country illegally. But the reality is that the migrant jobs pay so well, they are buying homes in cash. That's YOUR money they are making out in the sugar cane fields and have a half million to burn on a home, when they could get deported any day.
It’s called housing, not single family homes. Apartments, condos, weekly rentals etc. Illegals aren’t buying houses. They are renting houses/rooms or apartments leased through a legal relative or friend. Throw 10,000 in a town with limited rentals available? Do you really think that is going to make costs go down? It’s supply and demand.
It’s this simpleton mindset and lack of common sense that makes the majority of Americans laugh at the radical left. It’s also their concept of the economy that wants to give Kamala Harris the chance to fix the inflation she caused. Fortunately her numbers are plummeting and we will be spared for at least 4 more years.
Okay so here we go with the answer. That article was nice enough to quote JD.
"Twenty-five million illegal aliens competing with Americans for scarce homes is one of the most significant drivers of home prices in the country,”
He said illegal immigrants are competing for scarce homes (not housing). Again, you need a social to get a loan and buy a home and therefore be a driver of home prices. If you're an illegal immigrant, you can't buy a house.
I'll take your apology any time.
Home doesn’t necessarily mean a single family house. Everyone goes home from work. Kids go home from school. Home is wear you stay or live. It can be a house, apartment, condo, weekly or a tent in the woods. You’re just arguing for the sake of arguing. The majority of illegals aren’t buying single family houses.
What are you talking about? People buy single family homes, town homes, condos, multi units etc etc etc.
Vance's argument that illegal immigrants are to blame for rising home prices is complete bullshit. Think about it. You have not once complained about this before he brought it up last night. hahaha. Use your head-- he is feeding you misinformation. We are witnessing it happening to you in real time.
Pretty much dead even on "who won". Republicans said Vance won, D's to Walz. Unaffiliated broke slightly to Walz, but probably not statistically significant. I think what we can see is that it is Trump who is creating the coarseness of the debate and the anger in this country. I think the civility of these exchanges is yet more evidence of what we already knew. JFC, let's get him out of the public eye once and for all.
That's like comparing Creed's best song to PJ's worst song, and using that as evidence that creed is better. You're taking the best month under the last 4 years and comparing it to one of the highest months under Trump and claiming the numbers are better. Comparing the whole term, or even year to year, its still not that close.
Huh? What? It is lower now than it was in 2020 and also 2019. That's two years/Creed songs. That would be both of the last two years of Trump's term. It's also just above where it was during Trump's first year in 2017....and clearly trending in the right direction.
Mace, buddy, I know you like finding excuses for Trump at every possible turn, but the fact is the situation at the border is vastly improved and not far off from the averages of the last 16 years.
Now, if you will, just imagine how much better than this it would even be if Trump did not kill the border bill earlier this year. If Kamala wins, that thing will get passed.
Agreed...and like Walz said, at least the current procedures are humane. The GOP idea of thinking you can keep migrants away by making them think they will never see their kids again is just fucking wrong and likely a violation of human rights.
Yep. And how about Vance blaming illegal aliens for rising home prices last night? What a fucking idiot.
Trump says they are taking black people's jobs (implying poor people's jobs) while Vance implies they are bidding on $500,000 houses and driving the prices up and shit.
These people vilify for the sake of vilifying. Disingenuous bastards.
Now some might argue that a bank can't lend to someone that is in the country illegally. But the reality is that the migrant jobs pay so well, they are buying homes in cash. That's YOUR money they are making out in the sugar cane fields and have a half million to burn on a home, when they could get deported any day.
It’s called housing, not single family homes. Apartments, condos, weekly rentals etc. Illegals aren’t buying houses. They are renting houses/rooms or apartments leased through a legal relative or friend. Throw 10,000 in a town with limited rentals available? Do you really think that is going to make costs go down? It’s supply and demand.
It’s this simpleton mindset and lack of common sense that makes the majority of Americans laugh at the radical left. It’s also their concept of the economy that wants to give Kamala Harris the chance to fix the inflation she caused. Fortunately her numbers are plummeting and we will be spared for at least 4 more years.
Did he say the price of homes or cost of housing? Two different things. The poster said "rising home prices". And the reason for all of this is the shortage of housing coupled with private equity and REITS buying properties and distorting the market.
exactly.
the right is out here saying it is illegal immigrants. last i checked you needed a social security number to get a loan/buy a house.
I know several illegals who own homes. I’m not aware of the process they used to pay for it, but illegals can certainly buy a home
You personally know several illegal aliens? Really? And they all own homes via ITIN numbers? That is extremely rare. I have been in the mortgage industry for over 20 years--you, my friend, are a unicorn. Quick google search shows only a few thousand mortgages were made for people with ITIN's last year. Our origination software, and every company's software I've worked at since 2002, does not even have the capability of completing an application for someone without a social security number. Most company's will not originate a mortgage for someone who does not at least posses a green card.
edit--Read up a little more about this. Private lenders are the only option for these people. They usually end up paying a significantly higher rate and have to put down 20-30%. So these folks, first off have a difficult time finding a lender who can help them in the first place. Once they find one, the qualifying process seems much more stringent than it is for citizens and permanent residents. Again--these are extremely rare cases and are not impacting home prices in any significant way like Vance suggested.
One of the most important steps you must take to be able to buy a house in the United States is to request the ITIN Number.
The ITIN is similar to the Social Security Number (SSN), but it is only used to pay taxes. Still, by having one, you can apply for a personal loan and buy a home in New Jersey or another state.
Man, you have to read carefully. This is for a person who is undocumented but then they give you a path to become documented and at that point, you can buy a home. In other words, an illegal has to become legal and then can buy it.
What Does An Immigrant Need To Buy A House?
Depending on the immigration scenario where the aliens are, they require one of the following documents, status or immigration relief:
Green Card. If immigrants have obtained a Green Card, they will be able to benefit from some advantages similar to those of an American citizen. For example, paying only 3% of the initial payment, compared to an undocumented person.
Valid work visa. Some of these visas may give access to loans from the Federal Housing Administration (FHA).
Being a refugee or asylee. Immigrants who have requested asylum can also opt for mortgages. To do this, you must have Form I-94 and an authorized employment document for at least 90 days from your entry into the country.
I read that. It said “depending on the immigration scenario…”. It took that to mean it’s not always required.
You said “ If you're an illegal immigrant, you can't buy a house.”
They can. Illegals own homes and buy houses.
There is no legal status requirement to buy property or houses. Private lenders can lend money to whoever they want. I’m sure it’s a lot more difficult as an illegal immigrant, but lots do it.
Pretty much dead even on "who won". Republicans said Vance won, D's to Walz. Unaffiliated broke slightly to Walz, but probably not statistically significant. I think what we can see is that it is Trump who is creating the coarseness of the debate and the anger in this country. I think the civility of these exchanges is yet more evidence of what we already knew. JFC, let's get him out of the public eye once and for all.
That's like comparing Creed's best song to PJ's worst song, and using that as evidence that creed is better. You're taking the best month under the last 4 years and comparing it to one of the highest months under Trump and claiming the numbers are better. Comparing the whole term, or even year to year, its still not that close.
Huh? What? It is lower now than it was in 2020 and also 2019. That's two years/Creed songs. That would be both of the last two years of Trump's term. It's also just above where it was during Trump's first year in 2017....and clearly trending in the right direction.
Mace, buddy, I know you like finding excuses for Trump at every possible turn, but the fact is the situation at the border is vastly improved and not far off from the averages of the last 16 years.
Now, if you will, just imagine how much better than this it would even be if Trump did not kill the border bill earlier this year. If Kamala wins, that thing will get passed.
Agreed...and like Walz said, at least the current procedures are humane. The GOP idea of thinking you can keep migrants away by making them think they will never see their kids again is just fucking wrong and likely a violation of human rights.
Yep. And how about Vance blaming illegal aliens for rising home prices last night? What a fucking idiot.
Trump says they are taking black people's jobs (implying poor people's jobs) while Vance implies they are bidding on $500,000 houses and driving the prices up and shit.
These people vilify for the sake of vilifying. Disingenuous bastards.
Now some might argue that a bank can't lend to someone that is in the country illegally. But the reality is that the migrant jobs pay so well, they are buying homes in cash. That's YOUR money they are making out in the sugar cane fields and have a half million to burn on a home, when they could get deported any day.
It’s called housing, not single family homes. Apartments, condos, weekly rentals etc. Illegals aren’t buying houses. They are renting houses/rooms or apartments leased through a legal relative or friend. Throw 10,000 in a town with limited rentals available? Do you really think that is going to make costs go down? It’s supply and demand.
It’s this simpleton mindset and lack of common sense that makes the majority of Americans laugh at the radical left. It’s also their concept of the economy that wants to give Kamala Harris the chance to fix the inflation she caused. Fortunately her numbers are plummeting and we will be spared for at least 4 more years.
Okay so here we go with the answer. That article was nice enough to quote JD.
"Twenty-five million illegal aliens competing with Americans for scarce homes is one of the most significant drivers of home prices in the country,”
He said illegal immigrants are competing for scarce homes (not housing). Again, you need a social to get a loan and buy a home and therefore be a driver of home prices. If you're an illegal immigrant, you can't buy a house.
I'll take your apology any time.
Home doesn’t necessarily mean a single family house. Everyone goes home from work. Kids go home from school. Home is wear you stay or live. It can be a house, apartment, condo, weekly or a tent in the woods. You’re just arguing for the sake of arguing. The majority of illegals aren’t buying single family houses.
What are you talking about? People buy single family homes, town homes, condos, multi units etc etc etc.
Vance's argument that illegal immigrants are to blame for rising home prices is complete bullshit. Think about it. You have not once complained about this before he brought it up last night. hahaha. Use your head-- he is feeding you misinformation. We are witnessing it happening to you in real time.
I just said any of those could be called a home. Thanks for backing what I said.
Both candidates have committed to build more homes. Affordable housing is a problem. This falls more in the category of inflation. Vance specifically said that energy and less regulations would lower the cost of new homes though. Not less illegals.
But I don’t know how you can argue that apartment rents or home rentals, the majority of where illegals live, would not be affected by the influx of 10 million plus more people in the country.
Curious. What is the reason for the lack of affordable homes over the last 4 years then in your opinion?
Pretty much dead even on "who won". Republicans said Vance won, D's to Walz. Unaffiliated broke slightly to Walz, but probably not statistically significant. I think what we can see is that it is Trump who is creating the coarseness of the debate and the anger in this country. I think the civility of these exchanges is yet more evidence of what we already knew. JFC, let's get him out of the public eye once and for all.
That's like comparing Creed's best song to PJ's worst song, and using that as evidence that creed is better. You're taking the best month under the last 4 years and comparing it to one of the highest months under Trump and claiming the numbers are better. Comparing the whole term, or even year to year, its still not that close.
Huh? What? It is lower now than it was in 2020 and also 2019. That's two years/Creed songs. That would be both of the last two years of Trump's term. It's also just above where it was during Trump's first year in 2017....and clearly trending in the right direction.
Mace, buddy, I know you like finding excuses for Trump at every possible turn, but the fact is the situation at the border is vastly improved and not far off from the averages of the last 16 years.
Now, if you will, just imagine how much better than this it would even be if Trump did not kill the border bill earlier this year. If Kamala wins, that thing will get passed.
Agreed...and like Walz said, at least the current procedures are humane. The GOP idea of thinking you can keep migrants away by making them think they will never see their kids again is just fucking wrong and likely a violation of human rights.
Yep. And how about Vance blaming illegal aliens for rising home prices last night? What a fucking idiot.
Trump says they are taking black people's jobs (implying poor people's jobs) while Vance implies they are bidding on $500,000 houses and driving the prices up and shit.
These people vilify for the sake of vilifying. Disingenuous bastards.
Now some might argue that a bank can't lend to someone that is in the country illegally. But the reality is that the migrant jobs pay so well, they are buying homes in cash. That's YOUR money they are making out in the sugar cane fields and have a half million to burn on a home, when they could get deported any day.
It’s called housing, not single family homes. Apartments, condos, weekly rentals etc. Illegals aren’t buying houses. They are renting houses/rooms or apartments leased through a legal relative or friend. Throw 10,000 in a town with limited rentals available? Do you really think that is going to make costs go down? It’s supply and demand.
It’s this simpleton mindset and lack of common sense that makes the majority of Americans laugh at the radical left. It’s also their concept of the economy that wants to give Kamala Harris the chance to fix the inflation she caused. Fortunately her numbers are plummeting and we will be spared for at least 4 more years.
Okay so here we go with the answer. That article was nice enough to quote JD.
"Twenty-five million illegal aliens competing with Americans for scarce homes is one of the most significant drivers of home prices in the country,”
He said illegal immigrants are competing for scarce homes (not housing). Again, you need a social to get a loan and buy a home and therefore be a driver of home prices. If you're an illegal immigrant, you can't buy a house.
I'll take your apology any time.
Home doesn’t necessarily mean a single family house. Everyone goes home from work. Kids go home from school. Home is wear you stay or live. It can be a house, apartment, condo, weekly or a tent in the woods. You’re just arguing for the sake of arguing. The majority of illegals aren’t buying single family houses.
What are you talking about? People buy single family homes, town homes, condos, multi units etc etc etc.
Vance's argument that illegal immigrants are to blame for rising home prices is complete bullshit. Think about it. You have not once complained about this before he brought it up last night. hahaha. Use your head-- he is feeding you misinformation. We are witnessing it happening to you in real time.
I just said any of those could be called a home. Thanks for backing what I said.
Both candidates have committed to build more homes. Affordable housing is a problem. This falls more in the category of inflation. Vance specifically said that energy and less regulations would lower the cost of new homes though. Not less illegals.
But I don’t know how you can argue that apartment rents or home rentals, the majority of where illegals live, would not be affected by the influx of 10 million plus more people in the country.
Curious. What is the reason for the lack of affordable homes over the last 4 years then in your opinion?
Throughout Tuesday’s vice-presidential debate, Sen. JD Vance (R-Ohio) blamed soaring housing costs on a spike in immigration over the past few years — promising that a crackdown on illegal immigration and “kicking out illegal immigrants who are competing for those homes” would help affordability.
“Twenty-five million illegal aliens competing with Americans for scarce homes is one of the most significant drivers of home prices in the country,” Vance said.
That claim has been debunked by economists and housing experts, who say that other forces have played a much bigger role in driving up prices and that illegal immigration is not a top reason prices are high. Immigration may be helping to keep rents elevated in some areas, though.
Foreign-born workers also make up roughly a third of the construction workforce, a crucial part of the push to build millions of new homes and fix years-long shortages. That means the strict immigration crackdown Vance and former president Donald Trump are proposing could send prices even higher.
ADVERTISING
“I don’t think [new immigrants] are demanding the same type of dwellings that are pulling up prices,” said Dany Bahar, an economist at Brown University and nonresident senior fellow at the Brookings Institution. “These people are not competing for the same households as middle-class Americans.”
Immigration has undoubtedly changed the U.S. economy, especially since the pandemic. About 50 percent of the labor market’s extraordinary recent growth came from foreign-born workers between January 2023 and January 2024, according to an Economic Policy Institute analysis of federal data. Before that, by the middle of 2022, the foreign-born labor force had grown so fast that it closed the gap created by the pandemic, according to research from the San Francisco Fed.
In February, estimates from the Congressional Budget Office said the U.S. labor force will increase by 5.2 million people by 2033, thanks especially to net immigration. The economy is projected to grow by $7 trillion more over the next decade than it would have without new influxes of immigrants, according to the CBO.
A larger population, in turn, creates more demand for housing and other services. CBO research from July noted that higher immigration raises state and local governments’ spending — particularly on education, health care and housing — more than it increases their revenue.
Yet housing options for new immigrants, including many undocumented workers in lower-wage jobs, are often distinct from the broader market that native-born workers deal with. Mark Zandi, chief economist at Moody’s Analytics, noted that many new immigrants come to the United States with few financial resources and little income. They often double- or triple-up with friends or family in a single home. They are also far less likely to be able to buy a home, which can require a sizable down payment and enough credit history to get a mortgage.
That can mean more pressure for the rental market, where affordability issues are also front and center.
In testimony before Congress last month, Steven A. Camarota, director of research for the conservative Center for Immigration Studies, tied the post-pandemic run-up in rental costs to the growing number of immigrant renters.
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“This is certainly consistent with the possibility that immigration, including illegal immigration, has significantly increased housing prices in areas of heavy immigrant settlement,” Camarota said.
Yet it’s not clear exactly how much immigration has influenced the overall rental market.
Rent costs shot up in 2021 and 2022 on the heels of the pandemic, as people reconsidered where they wanted to live and suddenly competed for the same units. But new leases have since stabilized considerably, and rates are even falling in some cities. On average, apartments are slightly cheaper today than they were one year ago, according to Apartment List’s rental tracker, and have stayed in the red for months.
During the debate, Vance alluded to what he said was a Federal Reserve study that “really drills down on the connection between increased levels of migration, especially illegal immigration, and higher housing prices.” After the debate, he posted a May 2024 speech by Fed Governor Michelle Bowman in which she seemed a bit less certain, saying, “Given the current low inventory of affordable housing, the inflow of new immigrants to some geographic areas could result in upward pressure on rents, as additional housing supply may take time to materialize.”
Vance seemed to be referring to the for-sale market, which has been in the throes of a different kind of upheaval. When the Fed slashed interest rates to near zero at the beginning of the pandemic, mortgage rates fell, meaning scores of home buyers locked in rates around 3 or 4 percent. Then, rates went on an upward tear as the Fed hoisted borrowing costs to tame inflation, peaking around 8 percent last fall.
The result: Millions of homeowners who might otherwise have sold their homes stayed put to keep their low mortgages. That “lock-in” effect could soon start to undo itself, as interest rates drop. But that may also inject more demand into the market, making it harder for lower-income and first-time buyers to get in.
The Trump campaign did not immediately respond to a request for comment on Vance’s remarks.
Zoomed out, experts broadly agree that the country needs more housing. Vice President Kamala Harris says she wants to help build 3 million new homes, give state and local governments incentives to invest in housing, and create a multibillion-dollar tax credit program to make affordable projects pencil out for builders. The campaign has also promoted a $25,000 assistance plan to help first-time buyers.
Some economists have criticized those plans as having the potential to juice demand and drive prices up, though.
During the debate, Walz said that “we can’t blame immigrants for the only reason” housing has become unaffordable.
“The fact of the matter is that we don’t have enough naturally affordable housing. But we can make sure that the government’s there to help kick-start it,” Walz said.
White House Council of Economic Advisers Chair Jared Bernstein said Vance doesn’t understand the housing market, telling The Washington Post, “If you get the diagnosis wrong, as Vance did, you’ll never solve the problem.”
Housing policy doesn’t just fall to the federal government — it’s more like a tangled web of state and local laws, including zoning. But building new homes requires workers.
Trump’s proposals to deport millions of undocumented immigrants — which would be exceedingly difficult to carry out — would bring major consequences for the construction industry and the overall housing market if he succeeds. In a widely cited February paper, researchers at the University of Utah and the University of Wisconsin found that higher immigration enforcement reduced the number of construction workers and led to less home building and higher home prices. The paper also found that “undocumented labor is a complement to domestic labor,” and that deporting undocumented construction workers also cut back on the labor supplied by domestic workers.
I'm paraphrasing a Doug Stanhope bit but if someone who only recently came to the country and barely knows the language was taking my job and outbidding me on houses I'd probably keep that to myself lol. Sounds like a net positive for the economy!
I'm paraphrasing a Doug Stanhope bit but if someone who only recently came to the country and barely knows the language was taking my job and outbidding me on houses I'd probably keep that to myself lol. Sounds like a net positive for the economy!
This is not an opinion piece, my man. Most of the country does not live in a world of alternate facts. I will post again. Please read through twice just to make sure you retain it.
Throughout Tuesday’s vice-presidential debate, Sen. JD Vance (R-Ohio) blamed soaring housing costs on a spike in immigration over the past few years — promising that a crackdown on illegal immigration and “kicking out illegal immigrants who are competing for those homes” would help affordability.
“Twenty-five million illegal aliens competing with Americans for scarce homes is one of the most significant drivers of home prices in the country,” Vance said.
That claim has been debunked by economists and housing experts, who say that other forces have played a much bigger role in driving up prices and that illegal immigration is not a top reason prices are high. Immigration may be helping to keep rents elevated in some areas, though.
Foreign-born workers also make up roughly a third of the construction workforce, a crucial part of the push to build millions of new homes and fix years-long shortages. That means the strict immigration crackdown Vance and former president Donald Trump are proposing could send prices even higher.
ADVERTISING
“I don’t think [new immigrants] are demanding the same type of dwellings that are pulling up prices,” said Dany Bahar, an economist at Brown University and nonresident senior fellow at the Brookings Institution. “These people are not competing for the same households as middle-class Americans.”
Immigration has undoubtedly changed the U.S. economy, especially since the pandemic. About 50 percent of the labor market’s extraordinary recent growth came from foreign-born workers between January 2023 and January 2024, according to an Economic Policy Institute analysis of federal data. Before that, by the middle of 2022, the foreign-born labor force had grown so fast that it closed the gap created by the pandemic, according to research from the San Francisco Fed.
In February, estimates from the Congressional Budget Office said the U.S. labor force will increase by 5.2 million people by 2033, thanks especially to net immigration. The economy is projected to grow by $7 trillion more over the next decade than it would have without new influxes of immigrants, according to the CBO.
A larger population, in turn, creates more demand for housing and other services. CBO research from July noted that higher immigration raises state and local governments’ spending — particularly on education, health care and housing — more than it increases their revenue.
Yet housing options for new immigrants, including many undocumented workers in lower-wage jobs, are often distinct from the broader market that native-born workers deal with. Mark Zandi, chief economist at Moody’s Analytics, noted that many new immigrants come to the United States with few financial resources and little income. They often double- or triple-up with friends or family in a single home. They are also far less likely to be able to buy a home, which can require a sizable down payment and enough credit history to get a mortgage.
That can mean more pressure for the rental market, where affordability issues are also front and center.
In testimony before Congress last month, Steven A. Camarota, director of research for the conservative Center for Immigration Studies, tied the post-pandemic run-up in rental costs to the growing number of immigrant renters.
Share this articleShare
“This is certainly consistent with the possibility that immigration, including illegal immigration, has significantly increased housing prices in areas of heavy immigrant settlement,” Camarota said.
Yet it’s not clear exactly how much immigration has influenced the overall rental market.
Rent costs shot up in 2021 and 2022 on the heels of the pandemic, as people reconsidered where they wanted to live and suddenly competed for the same units. But new leases have since stabilized considerably, and rates are even falling in some cities. On average, apartments are slightly cheaper today than they were one year ago, according to Apartment List’s rental tracker, and have stayed in the red for months.
During the debate, Vance alluded to what he said was a Federal Reserve study that “really drills down on the connection between increased levels of migration, especially illegal immigration, and higher housing prices.” After the debate, he posted a May 2024 speech by Fed Governor Michelle Bowman in which she seemed a bit less certain, saying, “Given the current low inventory of affordable housing, the inflow of new immigrants to some geographic areas could result in upward pressure on rents, as additional housing supply may take time to materialize.”
Vance seemed to be referring to the for-sale market, which has been in the throes of a different kind of upheaval. When the Fed slashed interest rates to near zero at the beginning of the pandemic, mortgage rates fell, meaning scores of home buyers locked in rates around 3 or 4 percent. Then, rates went on an upward tear as the Fed hoisted borrowing costs to tame inflation, peaking around 8 percent last fall.
The result: Millions of homeowners who might otherwise have sold their homes stayed put to keep their low mortgages. That “lock-in” effect could soon start to undo itself, as interest rates drop. But that may also inject more demand into the market, making it harder for lower-income and first-time buyers to get in.
The Trump campaign did not immediately respond to a request for comment on Vance’s remarks.
Zoomed out, experts broadly agree that the country needs more housing. Vice President Kamala Harris says she wants to help build 3 million new homes, give state and local governments incentives to invest in housing, and create a multibillion-dollar tax credit program to make affordable projects pencil out for builders. The campaign has also promoted a $25,000 assistance plan to help first-time buyers.
Some economists have criticized those plans as having the potential to juice demand and drive prices up, though.
During the debate, Walz said that “we can’t blame immigrants for the only reason” housing has become unaffordable.
“The fact of the matter is that we don’t have enough naturally affordable housing. But we can make sure that the government’s there to help kick-start it,” Walz said.
White House Council of Economic Advisers Chair Jared Bernstein said Vance doesn’t understand the housing market, telling The Washington Post, “If you get the diagnosis wrong, as Vance did, you’ll never solve the problem.”
Housing policy doesn’t just fall to the federal government — it’s more like a tangled web of state and local laws, including zoning. But building new homes requires workers.
Trump’s proposals to deport millions of undocumented immigrants — which would be exceedingly difficult to carry out — would bring major consequences for the construction industry and the overall housing market if he succeeds. In a widely cited February paper, researchers at the University of Utah and the University of Wisconsin found that higher immigration enforcement reduced the number of construction workers and led to less home building and higher home prices. The paper also found that “undocumented labor is a complement to domestic labor,” and that deporting undocumented construction workers also cut back on the labor supplied by domestic workers.
This is not an opinion piece, my man. Most of the country does not live in a world of alternate facts. I will post again. Please read through twice just to make sure you retain it.
Throughout Tuesday’s vice-presidential debate, Sen. JD Vance (R-Ohio) blamed soaring housing costs on a spike in immigration over the past few years — promising that a crackdown on illegal immigration and “kicking out illegal immigrants who are competing for those homes” would help affordability.
“Twenty-five million illegal aliens competing with Americans for scarce homes is one of the most significant drivers of home prices in the country,” Vance said.
That claim has been debunked by economists and housing experts, who say that other forces have played a much bigger role in driving up prices and that illegal immigration is not a top reason prices are high. Immigration may be helping to keep rents elevated in some areas, though.
Foreign-born workers also make up roughly a third of the construction workforce, a crucial part of the push to build millions of new homes and fix years-long shortages. That means the strict immigration crackdown Vance and former president Donald Trump are proposing could send prices even higher.
ADVERTISING
“I don’t think [new immigrants] are demanding the same type of dwellings that are pulling up prices,” said Dany Bahar, an economist at Brown University and nonresident senior fellow at the Brookings Institution. “These people are not competing for the same households as middle-class Americans.”
Immigration has undoubtedly changed the U.S. economy, especially since the pandemic. About 50 percent of the labor market’s extraordinary recent growth came from foreign-born workers between January 2023 and January 2024, according to an Economic Policy Institute analysis of federal data. Before that, by the middle of 2022, the foreign-born labor force had grown so fast that it closed the gap created by the pandemic, according to research from the San Francisco Fed.
In February, estimates from the Congressional Budget Office said the U.S. labor force will increase by 5.2 million people by 2033, thanks especially to net immigration. The economy is projected to grow by $7 trillion more over the next decade than it would have without new influxes of immigrants, according to the CBO.
A larger population, in turn, creates more demand for housing and other services. CBO research from July noted that higher immigration raises state and local governments’ spending — particularly on education, health care and housing — more than it increases their revenue.
Yet housing options for new immigrants, including many undocumented workers in lower-wage jobs, are often distinct from the broader market that native-born workers deal with. Mark Zandi, chief economist at Moody’s Analytics, noted that many new immigrants come to the United States with few financial resources and little income. They often double- or triple-up with friends or family in a single home. They are also far less likely to be able to buy a home, which can require a sizable down payment and enough credit history to get a mortgage.
That can mean more pressure for the rental market, where affordability issues are also front and center.
In testimony before Congress last month, Steven A. Camarota, director of research for the conservative Center for Immigration Studies, tied the post-pandemic run-up in rental costs to the growing number of immigrant renters.
Share this articleShare
“This is certainly consistent with the possibility that immigration, including illegal immigration, has significantly increased housing prices in areas of heavy immigrant settlement,” Camarota said.
Yet it’s not clear exactly how much immigration has influenced the overall rental market.
Rent costs shot up in 2021 and 2022 on the heels of the pandemic, as people reconsidered where they wanted to live and suddenly competed for the same units. But new leases have since stabilized considerably, and rates are even falling in some cities. On average, apartments are slightly cheaper today than they were one year ago, according to Apartment List’s rental tracker, and have stayed in the red for months.
During the debate, Vance alluded to what he said was a Federal Reserve study that “really drills down on the connection between increased levels of migration, especially illegal immigration, and higher housing prices.” After the debate, he posted a May 2024 speech by Fed Governor Michelle Bowman in which she seemed a bit less certain, saying, “Given the current low inventory of affordable housing, the inflow of new immigrants to some geographic areas could result in upward pressure on rents, as additional housing supply may take time to materialize.”
Vance seemed to be referring to the for-sale market, which has been in the throes of a different kind of upheaval. When the Fed slashed interest rates to near zero at the beginning of the pandemic, mortgage rates fell, meaning scores of home buyers locked in rates around 3 or 4 percent. Then, rates went on an upward tear as the Fed hoisted borrowing costs to tame inflation, peaking around 8 percent last fall.
The result: Millions of homeowners who might otherwise have sold their homes stayed put to keep their low mortgages. That “lock-in” effect could soon start to undo itself, as interest rates drop. But that may also inject more demand into the market, making it harder for lower-income and first-time buyers to get in.
The Trump campaign did not immediately respond to a request for comment on Vance’s remarks.
Zoomed out, experts broadly agree that the country needs more housing. Vice President Kamala Harris says she wants to help build 3 million new homes, give state and local governments incentives to invest in housing, and create a multibillion-dollar tax credit program to make affordable projects pencil out for builders. The campaign has also promoted a $25,000 assistance plan to help first-time buyers.
Some economists have criticized those plans as having the potential to juice demand and drive prices up, though.
During the debate, Walz said that “we can’t blame immigrants for the only reason” housing has become unaffordable.
“The fact of the matter is that we don’t have enough naturally affordable housing. But we can make sure that the government’s there to help kick-start it,” Walz said.
White House Council of Economic Advisers Chair Jared Bernstein said Vance doesn’t understand the housing market, telling The Washington Post, “If you get the diagnosis wrong, as Vance did, you’ll never solve the problem.”
Housing policy doesn’t just fall to the federal government — it’s more like a tangled web of state and local laws, including zoning. But building new homes requires workers.
Trump’s proposals to deport millions of undocumented immigrants — which would be exceedingly difficult to carry out — would bring major consequences for the construction industry and the overall housing market if he succeeds. In a widely cited February paper, researchers at the University of Utah and the University of Wisconsin found that higher immigration enforcement reduced the number of construction workers and led to less home building and higher home prices. The paper also found that “undocumented labor is a complement to domestic labor,” and that deporting undocumented construction workers also cut back on the labor supplied by domestic workers.
One of the most important steps you must take to be able to buy a house in the United States is to request the ITIN Number.
The ITIN is similar to the Social Security Number (SSN), but it is only used to pay taxes. Still, by having one, you can apply for a personal loan and buy a home in New Jersey or another state.
Man, you have to read carefully. This is for a person who is undocumented but then they give you a path to become documented and at that point, you can buy a home. In other words, an illegal has to become legal and then can buy it.
What Does An Immigrant Need To Buy A House?
Depending on the immigration scenario where the aliens are, they require one of the following documents, status or immigration relief:
Green Card. If immigrants have obtained a Green Card, they will be able to benefit from some advantages similar to those of an American citizen. For example, paying only 3% of the initial payment, compared to an undocumented person.
Valid work visa. Some of these visas may give access to loans from the Federal Housing Administration (FHA).
Being a refugee or asylee. Immigrants who have requested asylum can also opt for mortgages. To do this, you must have Form I-94 and an authorized employment document for at least 90 days from your entry into the country.
I read that. It said “depending on the immigration scenario…”. It took that to mean it’s not always required.
You said “ If you're an illegal immigrant, you can't buy a house.”
They can. Illegals own homes and buy houses.
There is no legal status requirement to buy property or houses. Private lenders can lend money to whoever they want. I’m sure it’s a lot more difficult as an illegal immigrant, but lots do it.
One of the most important steps you must take to be able to buy a house in the United States is to request the ITIN Number.
The ITIN is similar to the Social Security Number (SSN), but it is only used to pay taxes. Still, by having one, you can apply for a personal loan and buy a home in New Jersey or another state.
Man, you have to read carefully. This is for a person who is undocumented but then they give you a path to become documented and at that point, you can buy a home. In other words, an illegal has to become legal and then can buy it.
What Does An Immigrant Need To Buy A House?
Depending on the immigration scenario where the aliens are, they require one of the following documents, status or immigration relief:
Green Card. If immigrants have obtained a Green Card, they will be able to benefit from some advantages similar to those of an American citizen. For example, paying only 3% of the initial payment, compared to an undocumented person.
Valid work visa. Some of these visas may give access to loans from the Federal Housing Administration (FHA).
Being a refugee or asylee. Immigrants who have requested asylum can also opt for mortgages. To do this, you must have Form I-94 and an authorized employment document for at least 90 days from your entry into the country.
I read that. It said “depending on the immigration scenario…”. It took that to mean it’s not always required.
You said “ If you're an illegal immigrant, you can't buy a house.”
They can. Illegals own homes and buy houses.
There is no legal status requirement to buy property or houses. Private lenders can lend money to whoever they want. I’m sure it’s a lot more difficult as an illegal immigrant, but lots do it.
There's no chance 28% of illegal aliens are homeowners. That number is absurd.
2.5% of housing “units” were owned by illegal aliens in 2014 and 2.6% in 2023, if I did my maths right. So you know, 2.6% of anything is a major contributor to anything, especially if it’s representative of the “other.”
And I don’t recall anyone being concerned about housing availability in aughts when Shrub was POTUS and immigration was higher than Obama or POOTWH. Next, it’ll be the gays revitalizing those period neighborhoods across the heartland. Oh, the horror.
One of the most important steps you must take to be able to buy a house in the United States is to request the ITIN Number.
The ITIN is similar to the Social Security Number (SSN), but it is only used to pay taxes. Still, by having one, you can apply for a personal loan and buy a home in New Jersey or another state.
Man, you have to read carefully. This is for a person who is undocumented but then they give you a path to become documented and at that point, you can buy a home. In other words, an illegal has to become legal and then can buy it.
What Does An Immigrant Need To Buy A House?
Depending on the immigration scenario where the aliens are, they require one of the following documents, status or immigration relief:
Green Card. If immigrants have obtained a Green Card, they will be able to benefit from some advantages similar to those of an American citizen. For example, paying only 3% of the initial payment, compared to an undocumented person.
Valid work visa. Some of these visas may give access to loans from the Federal Housing Administration (FHA).
Being a refugee or asylee. Immigrants who have requested asylum can also opt for mortgages. To do this, you must have Form I-94 and an authorized employment document for at least 90 days from your entry into the country.
I read that. It said “depending on the immigration scenario…”. It took that to mean it’s not always required.
You said “ If you're an illegal immigrant, you can't buy a house.”
They can. Illegals own homes and buy houses.
There is no legal status requirement to buy property or houses. Private lenders can lend money to whoever they want. I’m sure it’s a lot more difficult as an illegal immigrant, but lots do it.
There's no chance 28% of illegal aliens are homeowners. That number is absurd.
It maybe high. And I’m not claiming illegal immigrants are the reason for housing costs. I’m just disputing the claim that they can’t buy houses. They can. Even if it’s only 2.8%, they can still buy houses.
Anyone who supports Trump and Vance and makes an issue about an insignificant Walz lie is a major hypocrite. Not that I condone lies. No way. I'm with John Lydon on that one. No tolerance for lying. But you cannot support Trump or Vance and make Walz out to be as egregious a liar as those two. That's like comparing a jay walker with a drunk driver. Give me a break. Seriously?
What is wrong with pointing out inaccuracies a candidate makes? There is a lot is talk about lies Vance made and defense of the moderators for correcting him despite saying they wouldn’t.
To claim immigration is below Trump numbers is inaccurate and no one corrected him. I see nothing wrong or hypocritical with pointing that out.
We can, and should, be critical of politicians outside the comparison of Trump. Just because you can point to something worse Trump did doesn’t justify any action.
The claim was that border crossings are now lower now than they were in trump's final month in office, was it not?
That's an accurate statement. If you want to say it's devoid of context, have at it; but what he said is true.
Edit: Correction, the wording was "compared to when trump left office"
One of the most important steps you must take to be able to buy a house in the United States is to request the ITIN Number.
The ITIN is similar to the Social Security Number (SSN), but it is only used to pay taxes. Still, by having one, you can apply for a personal loan and buy a home in New Jersey or another state.
Man, you have to read carefully. This is for a person who is undocumented but then they give you a path to become documented and at that point, you can buy a home. In other words, an illegal has to become legal and then can buy it.
What Does An Immigrant Need To Buy A House?
Depending on the immigration scenario where the aliens are, they require one of the following documents, status or immigration relief:
Green Card. If immigrants have obtained a Green Card, they will be able to benefit from some advantages similar to those of an American citizen. For example, paying only 3% of the initial payment, compared to an undocumented person.
Valid work visa. Some of these visas may give access to loans from the Federal Housing Administration (FHA).
Being a refugee or asylee. Immigrants who have requested asylum can also opt for mortgages. To do this, you must have Form I-94 and an authorized employment document for at least 90 days from your entry into the country.
I read that. It said “depending on the immigration scenario…”. It took that to mean it’s not always required.
You said “ If you're an illegal immigrant, you can't buy a house.”
They can. Illegals own homes and buy houses.
There is no legal status requirement to buy property or houses. Private lenders can lend money to whoever they want. I’m sure it’s a lot more difficult as an illegal immigrant, but lots do it.
There's no chance 28% of illegal aliens are homeowners. That number is absurd.
I'd also be argue that the bulk of those that do are not the poor brown kind from south of our border that seem to be upsetting the ones making a big deal over this.
One of the most important steps you must take to be able to buy a house in the United States is to request the ITIN Number.
The ITIN is similar to the Social Security Number (SSN), but it is only used to pay taxes. Still, by having one, you can apply for a personal loan and buy a home in New Jersey or another state.
Man, you have to read carefully. This is for a person who is undocumented but then they give you a path to become documented and at that point, you can buy a home. In other words, an illegal has to become legal and then can buy it.
What Does An Immigrant Need To Buy A House?
Depending on the immigration scenario where the aliens are, they require one of the following documents, status or immigration relief:
Green Card. If immigrants have obtained a Green Card, they will be able to benefit from some advantages similar to those of an American citizen. For example, paying only 3% of the initial payment, compared to an undocumented person.
Valid work visa. Some of these visas may give access to loans from the Federal Housing Administration (FHA).
Being a refugee or asylee. Immigrants who have requested asylum can also opt for mortgages. To do this, you must have Form I-94 and an authorized employment document for at least 90 days from your entry into the country.
I read that. It said “depending on the immigration scenario…”. It took that to mean it’s not always required.
You said “ If you're an illegal immigrant, you can't buy a house.”
They can. Illegals own homes and buy houses.
There is no legal status requirement to buy property or houses. Private lenders can lend money to whoever they want. I’m sure it’s a lot more difficult as an illegal immigrant, but lots do it.
There's no chance 28% of illegal aliens are homeowners. That number is absurd.
I'd also be argue that the bulk of those that do are not the poor brown kind from south of our border that seem to be upsetting the ones making a big deal over this.
They're not. The lending standards appear to be quite high. US citizens can buy a house with 0-3% money down and most do. This small percentage of illegal aliens have to save up 20-30% of their money for a down payment and have much stricter guidelines when it comes to credit and dti etc. The idea that these people have more than an iota to do with rising housing cost is absolutely absurd.
I mentioned to the other guy that there's a reason he, and all other magas everywhere, never mentioned this until after Tuesday night--never even considered blaming these people for this until then. It's because they did not receive their misinformation queue until Vance lied about during the debate. Now, here we are.
One of the most important steps you must take to be able to buy a house in the United States is to request the ITIN Number.
The ITIN is similar to the Social Security Number (SSN), but it is only used to pay taxes. Still, by having one, you can apply for a personal loan and buy a home in New Jersey or another state.
Man, you have to read carefully. This is for a person who is undocumented but then they give you a path to become documented and at that point, you can buy a home. In other words, an illegal has to become legal and then can buy it.
What Does An Immigrant Need To Buy A House?
Depending on the immigration scenario where the aliens are, they require one of the following documents, status or immigration relief:
Green Card. If immigrants have obtained a Green Card, they will be able to benefit from some advantages similar to those of an American citizen. For example, paying only 3% of the initial payment, compared to an undocumented person.
Valid work visa. Some of these visas may give access to loans from the Federal Housing Administration (FHA).
Being a refugee or asylee. Immigrants who have requested asylum can also opt for mortgages. To do this, you must have Form I-94 and an authorized employment document for at least 90 days from your entry into the country.
I read that. It said “depending on the immigration scenario…”. It took that to mean it’s not always required.
You said “ If you're an illegal immigrant, you can't buy a house.”
They can. Illegals own homes and buy houses.
There is no legal status requirement to buy property or houses. Private lenders can lend money to whoever they want. I’m sure it’s a lot more difficult as an illegal immigrant, but lots do it.
There's no chance 28% of illegal aliens are homeowners. That number is absurd.
I'd also be argue that the bulk of those that do are not the poor brown kind from south of our border that seem to be upsetting the ones making a big deal over this.
They're not. The lending standards appear to be quite high. US citizens can buy a house with 0-3% money down and most do. This small percentage of illegal aliens have to save up 20-30% of their money for a down payment and have much stricter guidelines when it comes to credit and dti etc. The idea that these people have more than an iota to do with rising housing cost is absolutely absurd.
I mentioned to the other guy that there's a reason he, and all other magas everywhere, never mentioned this until after Tuesday night--never even considered blaming these people for this until then. It's because they did not receive their misinformation queue until Vance lied about during the debate. Now, here we are.
They have no original ideas or solutions. All they have are the conspiracy theories, dogwhistles, and lies created by the writers at murdoch inc that they parrot as soon and as often as they can.
They don't even understand what a VP can and cannot do.
Not today Sir, Probably not tomorrow.............................................. bayfront arena st. pete '94
you're finally here and I'm a mess................................................... nationwide arena columbus '10
memories like fingerprints are slowly raising.................................... first niagara center buffalo '13
another man ..... moved by sleight of hand...................................... joe louis arena detroit '14
That Osbourne guy in NE leading in a Senate poll 49-44. I honestly don't even know what this means. If it's 49D's (counting Bernie & Angus) & Osbourne and VP Walz does that constitute a "majority"? Better than a Republican though. He is pro-choice & pro-union.
Spectrum 10/27/09; New Orleans JazzFest 5/1/10; Made in America 9/2/12; WF Center 10/21/13; WF Center 10/22/13; Baltimore 10/27/13; WF Center 4/28/16; WF Center 4/29/16; Fenway Park 8/7/16; Fenway Park 9/2/18; Asbury Park 9/18/21; Camden 9/14/22; Las Vegas 5/16/24; Las Vegas 5/18/24; WF Center 9/7/24; WF Center 9/9/24; Baltimore Arena 9/12/24
Tres Mtns - TLA 3/23/11; EV - Tower Theatre 6/25/11; Temple of the Dog - Tower Theatre 11/5/16
That Osbourne guy in NE leading in a Senate poll 49-44. I honestly don't even know what this means. If it's 49D's (counting Bernie & Angus) & Osbourne and VP Walz does that constitute a "majority"? Better than a Republican though. He is pro-choice & pro-union.
I believe that he has claimed that he won't caucus with either Ds or Rs. We'll see
Comments
https://www.washingtonpost.com/business/2024/10/02/vance-immigration-housing/
Vance says immigrants caused a housing shortage. Economists disagree.
The housing market has been upended since the pandemic, but for different reasons.
Throughout Tuesday’s vice-presidential debate, Sen. JD Vance (R-Ohio) blamed soaring housing costs on a spike in immigration over the past few years — promising that a crackdown on illegal immigration and “kicking out illegal immigrants who are competing for those homes” would help affordability.
“Twenty-five million illegal aliens competing with Americans for scarce homes is one of the most significant drivers of home prices in the country,” Vance said.
That claim has been debunked by economists and housing experts, who say that other forces have played a much bigger role in driving up prices and that illegal immigration is not a top reason prices are high. Immigration may be helping to keep rents elevated in some areas, though.
Foreign-born workers also make up roughly a third of the construction workforce, a crucial part of the push to build millions of new homes and fix years-long shortages. That means the strict immigration crackdown Vance and former president Donald Trump are proposing could send prices even higher.
“I don’t think [new immigrants] are demanding the same type of dwellings that are pulling up prices,” said Dany Bahar, an economist at Brown University and nonresident senior fellow at the Brookings Institution. “These people are not competing for the same households as middle-class Americans.”
Immigration has undoubtedly changed the U.S. economy, especially since the pandemic. About 50 percent of the labor market’s extraordinary recent growth came from foreign-born workers between January 2023 and January 2024, according to an Economic Policy Institute analysis of federal data. Before that, by the middle of 2022, the foreign-born labor force had grown so fast that it closed the gap created by the pandemic, according to research from the San Francisco Fed.
In February, estimates from the Congressional Budget Office said the U.S. labor force will increase by 5.2 million people by 2033, thanks especially to net immigration. The economy is projected to grow by $7 trillion more over the next decade than it would have without new influxes of immigrants, according to the CBO.
A larger population, in turn, creates more demand for housing and other services. CBO research from July noted that higher immigration raises state and local governments’ spending — particularly on education, health care and housing — more than it increases their revenue.
Yet housing options for new immigrants, including many undocumented workers in lower-wage jobs, are often distinct from the broader market that native-born workers deal with. Mark Zandi, chief economist at Moody’s Analytics, noted that many new immigrants come to the United States with few financial resources and little income. They often double- or triple-up with friends or family in a single home. They are also far less likely to be able to buy a home, which can require a sizable down payment and enough credit history to get a mortgage.
That can mean more pressure for the rental market, where affordability issues are also front and center.
In testimony before Congress last month, Steven A. Camarota, director of research for the conservative Center for Immigration Studies, tied the post-pandemic run-up in rental costs to the growing number of immigrant renters.
“This is certainly consistent with the possibility that immigration, including illegal immigration, has significantly increased housing prices in areas of heavy immigrant settlement,” Camarota said.
Yet it’s not clear exactly how much immigration has influenced the overall rental market.
Rent costs shot up in 2021 and 2022 on the heels of the pandemic, as people reconsidered where they wanted to live and suddenly competed for the same units. But new leases have since stabilized considerably, and rates are even falling in some cities. On average, apartments are slightly cheaper today than they were one year ago, according to Apartment List’s rental tracker, and have stayed in the red for months.
During the debate, Vance alluded to what he said was a Federal Reserve study that “really drills down on the connection between increased levels of migration, especially illegal immigration, and higher housing prices.” After the debate, he posted a May 2024 speech by Fed Governor Michelle Bowman in which she seemed a bit less certain, saying, “Given the current low inventory of affordable housing, the inflow of new immigrants to some geographic areas could result in upward pressure on rents, as additional housing supply may take time to materialize.”
Vance seemed to be referring to the for-sale market, which has been in the throes of a different kind of upheaval. When the Fed slashed interest rates to near zero at the beginning of the pandemic, mortgage rates fell, meaning scores of home buyers locked in rates around 3 or 4 percent. Then, rates went on an upward tear as the Fed hoisted borrowing costs to tame inflation, peaking around 8 percent last fall.
The result: Millions of homeowners who might otherwise have sold their homes stayed put to keep their low mortgages. That “lock-in” effect could soon start to undo itself, as interest rates drop. But that may also inject more demand into the market, making it harder for lower-income and first-time buyers to get in.
The Trump campaign did not immediately respond to a request for comment on Vance’s remarks.
Zoomed out, experts broadly agree that the country needs more housing. Vice President Kamala Harris says she wants to help build 3 million new homes, give state and local governments incentives to invest in housing, and create a multibillion-dollar tax credit program to make affordable projects pencil out for builders. The campaign has also promoted a $25,000 assistance plan to help first-time buyers.
Some economists have criticized those plans as having the potential to juice demand and drive prices up, though.
During the debate, Walz said that “we can’t blame immigrants for the only reason” housing has become unaffordable.
“The fact of the matter is that we don’t have enough naturally affordable housing. But we can make sure that the government’s there to help kick-start it,” Walz said.
White House Council of Economic Advisers Chair Jared Bernstein said Vance doesn’t understand the housing market, telling The Washington Post, “If you get the diagnosis wrong, as Vance did, you’ll never solve the problem.”
Housing policy doesn’t just fall to the federal government — it’s more like a tangled web of state and local laws, including zoning. But building new homes requires workers.
Trump’s proposals to deport millions of undocumented immigrants — which would be exceedingly difficult to carry out — would bring major consequences for the construction industry and the overall housing market if he succeeds. In a widely cited February paper, researchers at the University of Utah and the University of Wisconsin found that higher immigration enforcement reduced the number of construction workers and led to less home building and higher home prices. The paper also found that “undocumented labor is a complement to domestic labor,” and that deporting undocumented construction workers also cut back on the labor supplied by domestic workers.
"Twenty-five million illegal aliens competing with Americans for scarce homes is one of the most significant drivers of home prices in the country,”
He said illegal immigrants are competing for scarce homes (not housing). Again, you need a social to get a loan and buy a home and therefore be a driver of home prices. If you're an illegal immigrant, you can't buy a house.
I'll take your apology any time.
Step 1: Request An ITIN Number
One of the most important steps you must take to be able to buy a house in the United States is to request the ITIN Number.
The ITIN is similar to the Social Security Number (SSN), but it is only used to pay taxes. Still, by having one, you can apply for a personal loan and buy a home in New Jersey or another state.
or a tent in the woods. You’re just arguing for the sake of arguing. The majority of illegals aren’t buying single family houses.
What Does An Immigrant Need To Buy A House?
Depending on the immigration scenario where the aliens are, they require one of the following documents, status or immigration relief:
Vance's argument that illegal immigrants are to blame for rising home prices is complete bullshit. Think about it. You have not once complained about this before he brought it up last night. hahaha. Use your head-- he is feeding you misinformation. We are witnessing it happening to you in real time.
edit--Read up a little more about this. Private lenders are the only option for these people. They usually end up paying a significantly higher rate and have to put down 20-30%. So these folks, first off have a difficult time finding a lender who can help them in the first place. Once they find one, the qualifying process seems much more stringent than it is for citizens and permanent residents. Again--these are extremely rare cases and are not impacting home prices in any significant way like Vance suggested.
There is no legal status requirement to buy property or houses. Private lenders can lend money to whoever they want. I’m sure it’s a lot more difficult as an illegal immigrant, but lots do it.
But I don’t know how you can argue that apartment rents or home rentals, the majority of where illegals live, would not be affected by the influx of 10 million plus more people in the country.
Curious. What is the reason for the lack of affordable homes over the last 4 years then in your opinion?
https://www.washingtonpost.com/business/2024/10/02/vance-immigration-housing/
Vance says immigrants caused a housing shortage. Economists disagree.
The housing market has been upended since the pandemic, but for different reasons.
Throughout Tuesday’s vice-presidential debate, Sen. JD Vance (R-Ohio) blamed soaring housing costs on a spike in immigration over the past few years — promising that a crackdown on illegal immigration and “kicking out illegal immigrants who are competing for those homes” would help affordability.
“Twenty-five million illegal aliens competing with Americans for scarce homes is one of the most significant drivers of home prices in the country,” Vance said.
That claim has been debunked by economists and housing experts, who say that other forces have played a much bigger role in driving up prices and that illegal immigration is not a top reason prices are high. Immigration may be helping to keep rents elevated in some areas, though.
Foreign-born workers also make up roughly a third of the construction workforce, a crucial part of the push to build millions of new homes and fix years-long shortages. That means the strict immigration crackdown Vance and former president Donald Trump are proposing could send prices even higher.
“I don’t think [new immigrants] are demanding the same type of dwellings that are pulling up prices,” said Dany Bahar, an economist at Brown University and nonresident senior fellow at the Brookings Institution. “These people are not competing for the same households as middle-class Americans.”
Immigration has undoubtedly changed the U.S. economy, especially since the pandemic. About 50 percent of the labor market’s extraordinary recent growth came from foreign-born workers between January 2023 and January 2024, according to an Economic Policy Institute analysis of federal data. Before that, by the middle of 2022, the foreign-born labor force had grown so fast that it closed the gap created by the pandemic, according to research from the San Francisco Fed.
In February, estimates from the Congressional Budget Office said the U.S. labor force will increase by 5.2 million people by 2033, thanks especially to net immigration. The economy is projected to grow by $7 trillion more over the next decade than it would have without new influxes of immigrants, according to the CBO.
A larger population, in turn, creates more demand for housing and other services. CBO research from July noted that higher immigration raises state and local governments’ spending — particularly on education, health care and housing — more than it increases their revenue.
Yet housing options for new immigrants, including many undocumented workers in lower-wage jobs, are often distinct from the broader market that native-born workers deal with. Mark Zandi, chief economist at Moody’s Analytics, noted that many new immigrants come to the United States with few financial resources and little income. They often double- or triple-up with friends or family in a single home. They are also far less likely to be able to buy a home, which can require a sizable down payment and enough credit history to get a mortgage.
That can mean more pressure for the rental market, where affordability issues are also front and center.
In testimony before Congress last month, Steven A. Camarota, director of research for the conservative Center for Immigration Studies, tied the post-pandemic run-up in rental costs to the growing number of immigrant renters.
“This is certainly consistent with the possibility that immigration, including illegal immigration, has significantly increased housing prices in areas of heavy immigrant settlement,” Camarota said.
Yet it’s not clear exactly how much immigration has influenced the overall rental market.
Rent costs shot up in 2021 and 2022 on the heels of the pandemic, as people reconsidered where they wanted to live and suddenly competed for the same units. But new leases have since stabilized considerably, and rates are even falling in some cities. On average, apartments are slightly cheaper today than they were one year ago, according to Apartment List’s rental tracker, and have stayed in the red for months.
During the debate, Vance alluded to what he said was a Federal Reserve study that “really drills down on the connection between increased levels of migration, especially illegal immigration, and higher housing prices.” After the debate, he posted a May 2024 speech by Fed Governor Michelle Bowman in which she seemed a bit less certain, saying, “Given the current low inventory of affordable housing, the inflow of new immigrants to some geographic areas could result in upward pressure on rents, as additional housing supply may take time to materialize.”
Vance seemed to be referring to the for-sale market, which has been in the throes of a different kind of upheaval. When the Fed slashed interest rates to near zero at the beginning of the pandemic, mortgage rates fell, meaning scores of home buyers locked in rates around 3 or 4 percent. Then, rates went on an upward tear as the Fed hoisted borrowing costs to tame inflation, peaking around 8 percent last fall.
The result: Millions of homeowners who might otherwise have sold their homes stayed put to keep their low mortgages. That “lock-in” effect could soon start to undo itself, as interest rates drop. But that may also inject more demand into the market, making it harder for lower-income and first-time buyers to get in.
The Trump campaign did not immediately respond to a request for comment on Vance’s remarks.
Zoomed out, experts broadly agree that the country needs more housing. Vice President Kamala Harris says she wants to help build 3 million new homes, give state and local governments incentives to invest in housing, and create a multibillion-dollar tax credit program to make affordable projects pencil out for builders. The campaign has also promoted a $25,000 assistance plan to help first-time buyers.
Some economists have criticized those plans as having the potential to juice demand and drive prices up, though.
During the debate, Walz said that “we can’t blame immigrants for the only reason” housing has become unaffordable.
“The fact of the matter is that we don’t have enough naturally affordable housing. But we can make sure that the government’s there to help kick-start it,” Walz said.
White House Council of Economic Advisers Chair Jared Bernstein said Vance doesn’t understand the housing market, telling The Washington Post, “If you get the diagnosis wrong, as Vance did, you’ll never solve the problem.”
Housing policy doesn’t just fall to the federal government — it’s more like a tangled web of state and local laws, including zoning. But building new homes requires workers.
Trump’s proposals to deport millions of undocumented immigrants — which would be exceedingly difficult to carry out — would bring major consequences for the construction industry and the overall housing market if he succeeds. In a widely cited February paper, researchers at the University of Utah and the University of Wisconsin found that higher immigration enforcement reduced the number of construction workers and led to less home building and higher home prices. The paper also found that “undocumented labor is a complement to domestic labor,” and that deporting undocumented construction workers also cut back on the labor supplied by domestic workers.
That's great
https://www.washingtonpost.com/business/2024/10/02/vance-immigration-housing/
Vance says immigrants caused a housing shortage. Economists disagree.
The housing market has been upended since the pandemic, but for different reasons.
Throughout Tuesday’s vice-presidential debate, Sen. JD Vance (R-Ohio) blamed soaring housing costs on a spike in immigration over the past few years — promising that a crackdown on illegal immigration and “kicking out illegal immigrants who are competing for those homes” would help affordability.
“Twenty-five million illegal aliens competing with Americans for scarce homes is one of the most significant drivers of home prices in the country,” Vance said.
That claim has been debunked by economists and housing experts, who say that other forces have played a much bigger role in driving up prices and that illegal immigration is not a top reason prices are high. Immigration may be helping to keep rents elevated in some areas, though.
Foreign-born workers also make up roughly a third of the construction workforce, a crucial part of the push to build millions of new homes and fix years-long shortages. That means the strict immigration crackdown Vance and former president Donald Trump are proposing could send prices even higher.
“I don’t think [new immigrants] are demanding the same type of dwellings that are pulling up prices,” said Dany Bahar, an economist at Brown University and nonresident senior fellow at the Brookings Institution. “These people are not competing for the same households as middle-class Americans.”
Immigration has undoubtedly changed the U.S. economy, especially since the pandemic. About 50 percent of the labor market’s extraordinary recent growth came from foreign-born workers between January 2023 and January 2024, according to an Economic Policy Institute analysis of federal data. Before that, by the middle of 2022, the foreign-born labor force had grown so fast that it closed the gap created by the pandemic, according to research from the San Francisco Fed.
In February, estimates from the Congressional Budget Office said the U.S. labor force will increase by 5.2 million people by 2033, thanks especially to net immigration. The economy is projected to grow by $7 trillion more over the next decade than it would have without new influxes of immigrants, according to the CBO.
A larger population, in turn, creates more demand for housing and other services. CBO research from July noted that higher immigration raises state and local governments’ spending — particularly on education, health care and housing — more than it increases their revenue.
Yet housing options for new immigrants, including many undocumented workers in lower-wage jobs, are often distinct from the broader market that native-born workers deal with. Mark Zandi, chief economist at Moody’s Analytics, noted that many new immigrants come to the United States with few financial resources and little income. They often double- or triple-up with friends or family in a single home. They are also far less likely to be able to buy a home, which can require a sizable down payment and enough credit history to get a mortgage.
That can mean more pressure for the rental market, where affordability issues are also front and center.
In testimony before Congress last month, Steven A. Camarota, director of research for the conservative Center for Immigration Studies, tied the post-pandemic run-up in rental costs to the growing number of immigrant renters.
“This is certainly consistent with the possibility that immigration, including illegal immigration, has significantly increased housing prices in areas of heavy immigrant settlement,” Camarota said.
Yet it’s not clear exactly how much immigration has influenced the overall rental market.
Rent costs shot up in 2021 and 2022 on the heels of the pandemic, as people reconsidered where they wanted to live and suddenly competed for the same units. But new leases have since stabilized considerably, and rates are even falling in some cities. On average, apartments are slightly cheaper today than they were one year ago, according to Apartment List’s rental tracker, and have stayed in the red for months.
During the debate, Vance alluded to what he said was a Federal Reserve study that “really drills down on the connection between increased levels of migration, especially illegal immigration, and higher housing prices.” After the debate, he posted a May 2024 speech by Fed Governor Michelle Bowman in which she seemed a bit less certain, saying, “Given the current low inventory of affordable housing, the inflow of new immigrants to some geographic areas could result in upward pressure on rents, as additional housing supply may take time to materialize.”
Vance seemed to be referring to the for-sale market, which has been in the throes of a different kind of upheaval. When the Fed slashed interest rates to near zero at the beginning of the pandemic, mortgage rates fell, meaning scores of home buyers locked in rates around 3 or 4 percent. Then, rates went on an upward tear as the Fed hoisted borrowing costs to tame inflation, peaking around 8 percent last fall.
The result: Millions of homeowners who might otherwise have sold their homes stayed put to keep their low mortgages. That “lock-in” effect could soon start to undo itself, as interest rates drop. But that may also inject more demand into the market, making it harder for lower-income and first-time buyers to get in.
The Trump campaign did not immediately respond to a request for comment on Vance’s remarks.
Zoomed out, experts broadly agree that the country needs more housing. Vice President Kamala Harris says she wants to help build 3 million new homes, give state and local governments incentives to invest in housing, and create a multibillion-dollar tax credit program to make affordable projects pencil out for builders. The campaign has also promoted a $25,000 assistance plan to help first-time buyers.
Some economists have criticized those plans as having the potential to juice demand and drive prices up, though.
During the debate, Walz said that “we can’t blame immigrants for the only reason” housing has become unaffordable.
“The fact of the matter is that we don’t have enough naturally affordable housing. But we can make sure that the government’s there to help kick-start it,” Walz said.
White House Council of Economic Advisers Chair Jared Bernstein said Vance doesn’t understand the housing market, telling The Washington Post, “If you get the diagnosis wrong, as Vance did, you’ll never solve the problem.”
Housing policy doesn’t just fall to the federal government — it’s more like a tangled web of state and local laws, including zoning. But building new homes requires workers.
Trump’s proposals to deport millions of undocumented immigrants — which would be exceedingly difficult to carry out — would bring major consequences for the construction industry and the overall housing market if he succeeds. In a widely cited February paper, researchers at the University of Utah and the University of Wisconsin found that higher immigration enforcement reduced the number of construction workers and led to less home building and higher home prices. The paper also found that “undocumented labor is a complement to domestic labor,” and that deporting undocumented construction workers also cut back on the labor supplied by domestic workers.
Libtardaplorable©. And proud of it.
Brilliantati©
And I don’t recall anyone being concerned about housing availability in aughts when Shrub was POTUS and immigration was higher than Obama or POOTWH. Next, it’ll be the gays revitalizing those period neighborhoods across the heartland. Oh, the horror.
Libtardaplorable©. And proud of it.
Brilliantati©
https://www.instagram.com/reel/DAMPjh-plmG/?igsh=MWgxcWFxYmsxa2Z2dA==
And I’m not claiming illegal immigrants are the reason for housing costs. I’m just disputing the claim that they can’t buy houses. They can. Even if it’s only 2.8%, they can still buy houses.
That's an accurate statement. If you want to say it's devoid of context, have at it; but what he said is true.
Edit:
Correction, the wording was "compared to when trump left office"
So... still an accurate statement.
I mentioned to the other guy that there's a reason he, and all other magas everywhere, never mentioned this until after Tuesday night--never even considered blaming these people for this until then. It's because they did not receive their misinformation queue until Vance lied about during the debate. Now, here we are.
All they have are the conspiracy theories, dogwhistles, and lies created by the writers at murdoch inc that they parrot as soon and as often as they can.
They don't even understand what a VP can and cannot do.
Not today Sir, Probably not tomorrow.............................................. bayfront arena st. pete '94
you're finally here and I'm a mess................................................... nationwide arena columbus '10
memories like fingerprints are slowly raising.................................... first niagara center buffalo '13
another man ..... moved by sleight of hand...................................... joe louis arena detroit '14
WF Center 4/28/16; WF Center 4/29/16; Fenway Park 8/7/16; Fenway Park 9/2/18; Asbury Park 9/18/21; Camden 9/14/22;
Las Vegas 5/16/24; Las Vegas 5/18/24; WF Center 9/7/24; WF Center 9/9/24; Baltimore Arena 9/12/24
Tres Mtns - TLA 3/23/11; EV - Tower Theatre 6/25/11; Temple of the Dog - Tower Theatre 11/5/16
We'll see