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On Fox News, Vice President JD Vance had a simple reason why housing prices are so expensive. Vance didn’t blame consumer demand outstripping supply, or the fact that America has not been building enough homes, or the aftershocks from the pandemic that are lingering in parts of the economy.
JD Vance, who is apparently learning at the knee of Donald Trump, blamed interest rates and immigrants.
Vance said:
You gotta understand the root causes here. Why did housing get so unaffordable for American citizens? Two big problems. Number one, I already talked about interest rates were too high. Number two, you had way too many people in this. country who are competing against American citizens for scarce homes, and that’s the illegal immigration problem.
Why is housing leveled off over the past six months? I really believe the main driver is you’ve had negative net migration into the United States for the first time in. 60 years in this country, you cannot flood the United States of America. With 20, 30, 40 million people who have no legal right to be here, have them compete against young American families for homes and not expect the price to skyrocket.
It’s as simple as supply and demand. You increase the demand, you’re gonna increase. The price. And, and the final thing I wanna say here is, is we’re working on, on, on issues right now in the White House every single day. ’cause we wanna make it easier to build homes too, because in the same way that getting illegal aliens out of this country means fewer people competing against young American families.
Blaming immigrants for housing costs is the dumbest and most racist answer imaginable.
