OFFICIAL VP DEBATE THREAD
Comments
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The child that doesn't think 20m illegals have an effect on the housing market is asking us to analyze things better.
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"an effect"
what goalposts?
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Sorry, doesn't think that 20m illegals are eating up housing. Are they unhoused?
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JD was specifically talking about home buying, home prices. Check the transcript.
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They are kicking current renters out because the government will pay substantially more to house the illegals. It's still housing sherlock!
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Government coupon handouts to illegals for rent (probably at a premium to the market) drive up rental prices, if the expected cash flow of owning and renting out a property goes up, so does the price required to sell. Add 20k to a city with a population of 60k and what do you think happens to rental prices and supply? Whether they are buying them or renting them, they are gobbling up housing stock.
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Must have been some MBA program that the dazzler got his mythical degree from where he was taught that residential sales prices were disconnected from the rental market. That would be news to Blackrock.
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This thread is funny
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HH has a incredible DCF model that would make Balckrock reevaluate everything.
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JD Vance repeatedly claimed that illegal immigration is driving up housing costs, citing what he called “a Federal Reserve study…that really drills down on the connection.” It wasn’t immediately clear what he was referring to, but it may have been a June speech by Michelle Bowman, one of seven members of the Fed’s board of governors. “Given the current low inventory of affordable housing, the inflow of new immigrants to some geographic areas could result in upward pressure on rents,” said Bowman, a former banker who was appointed by former President Donald Trump.
Economists say immigration is a double-edged sword for housing, as immigrants do increase demand for housing. But they also contribute to supply, as immigrants are far more likely to work in construction than people born in the U.S.
(emphasis mine)
