The liberal Cato Institute, which is known for supporting open borders, is now saying that Sen. JD Vance (R-OH) is right when he says that “immigration raises home prices” for Americans.
At the vice presidential debate on Tuesday night, Vance said, “We don’t want to blame immigrants for higher house prices, but we do want to blame Harris for allowing millions of illegal aliens into this nation, which does drive up costs.”
A big reason why home prices are going up in the U.S. is that 25 million illegal immigrants are fighting with Americans for homes that are in short supply. This is the reason why home prices have gone up so much and the number of illegal immigrants has gone up so much under Kamala Harris’s leadership.
Alex Nowrasteh of the Cato Institute wrote an article on Wednesday called “JD Vance Is Correct: Immigration Increases Housing Prices, and That’s Okay.” In it, the libertarian says that high amounts of immigration do cause housing prices to go up.
Nowrasteh writes, “Vance is right when he says that foreigners make houses more expensive.”
Price changes, including house prices, are based on where supply and demand meet. When the housing supply trends are going up, prices will go up because more people want to live there. After all, immigrants are people who want to live somewhere.
“Going back to where Vance started the conversation in Springfield, Ohio, living costs have gone up as more Haitians have moved there. Redfin says that the median sale price of a single-family home in that area went up from $78,500 in August 2019 to $158,000 in August 2024, which is a 101% rise in real dollars. During the same time period, the rise across the country was 46% in nominal numbers. This has made things worse for renters and first-time home buyers in Springfield, but better for landlords, most of whom were born and raised there.”
A recent hearing in the House Oversight Committee heard from Steven Camarota, Director of Research at the Center for Immigration Studies. He said that his research shows that “a 5-percentage point increase in the recent immigrant share of a metro area’s population is connected with a 12-percent increase in the average U.S.-born household’s rent, relative to their income.”
Camarota said that rents go up a lot when there is a lot of immigration.
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