RIGHT SPEAK: Immigration Bursts Into Election Housing Price Debate; The Unprecedented Migrant Crisis Worsens Our Housing Shortage

Immigration bursts into election housing price debate:

The role that mass immigration plays in driving up housing costs has come under renewed scrutiny as soaring housing prices and rents have become a topic of debate in the presidential campaign.

Both campaigns have called for boosting the construction of homes to lower prices — that is, by focusing on the supply side. But the Republican ticket has also focused on stemming immigration to reduce demand for housing and blamed high housing costs on the immigration policies of President Joe Biden and Vice President Kamala Harris, the Democratic presidential nominee.

In a speech on his economic policies earlier this month at the Economic Club of New York, former President Donald Trump outlined his plans for reducing prices by cutting back regulations to allow for more construction. But he said that “we also cannot ignore the impact that the flood of 21 million illegal aliens has had on driving up housing costs.”

His running mate, Sen. J.D. Vance (R-OH), has focused even more intently on immigration as a factor in elevating housing prices, referencing it often on the campaign trail.

Vance, in a recent X response to Harris’s housing proposals, laid out the argument that immigration to a given area raises its housing prices and rents.

“It’s common sense, we can’t fix our housing crisis until we address the crisis at the border,” he concluded.

The Trump-Vance campaign’s efforts to blame immigration for high housing prices is a new development in the ascent of high housing costs as a top political concern.

Recent years have seen the rise of a movement in favor of allowing greater housing construction. The movement has labeled itself “Yes In My Back Yard,” or YIMBY, a contrast with “Not In My Back Yard,” or NIMBY, a label applied to local homeowner groups that oppose new buildings. The YIMBY movement has succeeded in passing measures to limit policies that restrict housing in cities such as Minneapolis and states such as Massachusetts.

But while the YIMBY movement has focused on the supply side of the housing market, the Trump-Vance campaign is now also looking at the demand side.

Evidence from housing markets suggests that immigrants do put upward pressure on prices in the housing markets they enter, even if experts are divided on the prescriptions that follow.

“It’s basic 101 economics,” HousingWire lead analyst Logan Mohtashami said. “You’re not ready for an influx, and guess what happens — housing inflation takes off.” --->READ MORE HERE

The unprecedented migrant crisis worsens our housing shortage:

The housing shortage looms large as our nation faces a critical presidential election. Just last week, the National Association of Realtors released new data revealing home prices in the United States reached a record high in June 2024. It’s no wonder, then, that housing costs are a top priority for young voters.

Unfortunately, some in Washington, D.C., continue to turn a blind eye to a key factor exacerbating this crisis: Mass illegal immigration.

Houses have been in short supply since the Great Recession, when housing production steadily declined, especially the construction of “affordable” apartments, which declined by 4.7 million units from 2015-2020. However, housing demand has only increased, driving up the cost of living.

As of 2024, the U.S. was short somewhere between 4 to 7 million housing units. The shortage of affordable and multifamily housing is especially severe, as multifamily construction has declined since 2021, dropping 14%. Considering that incomes have not kept pace with rising housing costs, these increased costs are especially harmful to lower-income families seeking multifamily units.

Additionally, rising production costs have disincentivized developers from building more multifamily units, worsening the problem.

Adding to this dire situation is the massive influx of illegal immigrants to the U.S. since 2021. According to a Center for Immigration Studies report, the foreign-born population has increased by 6.6 million since 2021, with 58% of this increase coming from illegal immigration. This massive population influx has increased the demand for housing, worsening the existing shortage.

While this matter has been largely ignored by both parties, former President Donald Trump’s vice presidential pick has led the way in addressing this underreported crisis. Sen. J.D. Vance (R-OH) recently said, “It’s very hard to talk about the housing crisis in Ohio or across the country without talking about the immigration problem.