
During the recent Vice Presidential debate, Senator JD Vance brought to light an issue that many Americans may be unaware of, and that’s the fact that mass immigration is having a destructive impact on the housing sector. Specifically, that immigration is driving up housing costs – derailing the American Dream of owning a home for legal U.S. citizens. In addition to this, waves of immigrants pouring into the country have also caused rents to rise, because just like the limited amount of homes for sale on the market, rentals are also scarce – there’s just not enough to go around.
This particular topic hits close to home for many Americans who have been unable to find affordable housing, and so a candidate’s view on this could certainly sway the public vote come election day. Why? Because if non-citizens infiltrating cities across the nation is a major contributing factor to the current housing crisis, then the situation will only worsen if Kamala Harris wins the presidency this November.
Related Article: Home Affordability Crisis – Lowest Level in Nearly Two Decades Drives Up Demand for Rentals
Prices Driven Up by Immigrants Competing with Americans for Scarce Homes
During the debate, Vance’s statements communicated his position on safeguarding the interests of the American public. This was evident in his comment: “We don’t want to blame immigrants for higher housing prices. But we do want to blame Kamala Harris for letting in millions of illegal aliens into this country which does drive up costs, Tim. Twenty-five million illegal aliens competing with Americans for scarce homes is one of the most significant drivers of home prices in the country. It’s why we have massive increases in home prices that have happened right alongside massive increases in illegal alien, alien populations under Kamala Harris’s leadership.”
Related Article: Stealing the American Dream – CA Proposes Zero-Down Home Loan Handout to Illegal Immigrants
Now, it doesn’t take a rocket scientist or a math scholar to realize there’s truth to what Vance was claiming. But even so, the Moderator, Margaret Brennan, requested proof, asking, “There are many contributing factors to high housing costs. What evidence do you have that migrants are part of this problem?”
As I said, it doesn’t take an expert to put two and two together and realize that when the population rises, the demand for housing rises along with it, and when the demand for housing trends upward, the supply becomes limited, and prices skyrocket. It’s an obvious basic supply and demand issue that politicians and the media are turning a blind eye to as they continue to allow more undocumented individuals to just walk right across the border.
Vance did supply the evidence to back up his claims, though:
Here are two more studies to go with it:
“Immigration inflows into a particular Metropolitan statistical area (MSA) is associated with increases in rents and with house prices in that MSA while also seeming to drive up rents and prices in neighboring MSAs.”…
— JD Vance (@JDVance) October 2, 2024
Numerous Cities are Witnessing a Significant Rise in Population
Vance pinpointed one specific location that’s been overwhelmed by an influx of immigrants, and that’s Springfield, Ohio: “Look, in Springfield, Ohio and in communities all across this country, you’ve got schools that are overwhelmed, you’ve got hospitals that are overwhelmed, you have got housing that is totally unaffordable because we brought in millions of illegal immigrants to compete with Americans for scarce homes. The people that I’m most worried about in Springfield, Ohio, are the American citizens who have had their lives destroyed by Kamala Harris’s open border. It’s a disgrace.”
City Resources and Housing Supply Drained as Population Quickly Grows
A large number of Haitian immigrants, around 15,000 to 20,000, have resettled from their foreign nation to Springfield in only the past four years. For a city that previously had 60,000 residents, this becomes a critical situation. This is just one example of one city; there are many more that are struggling with the same disruptive problem.
During the debate, the moderator pointed out that many of these Haitian migrants have legal status. In response to this, Vance was quick to point out the following: “I think it’s important to say what’s actually going on. So there’s an application called the CBP One app where you can go on as an illegal migrant, apply for asylum or apply for parole, and be granted legal status at the wave of a Kamala Harris open border wand. That is not a person coming in, applying for a green card and waiting for ten years.”
When it comes down to it, does it really matter if they are somehow labeled legal or granted temporary legal status? This doesn’t resolve the issue at hand or justify what’s happening in any way. Why not? Because regardless of what their new status is, with this particular city’s population growing by this many people in such a short amount of time, it only worsens the housing crisis, drains the city’s resources, and places a large burden on the city and its residents.
They’re basically draining resources that were meant for American citizens who have worked hard and funneled money into the U.S. system for years through their annual tax payments. In reality, it’s the Biden-Harris administration that’s placing the strain on these communities by having an open border policy in the first place.
House Prices are Expected to Continue on an Upward Trend
With illegal immigration numbers out of control and the U.S. population rapidly growing because of it, along with other factors at play, housing prices are not expected to settle down any time soon. In fact, if Harris secures the election, you can expect the population surge and home affordability issue to become even more challenging.
Related Article: Harris’s Destructive Housing Plan: A Path to Rising Property Prices and Economic Instability
If you’re looking for a way to protect yourself financially from the chaos that’s been unleashed on this country, and you’re leaning towards investing in rental real estate as your strategy, it would be wise to buy now before property prices rise further. Also, investors who are waiting for mortgage rates to lower should know that you could end up paying thousands more for the purchase price if you go down that path.
Investing Now Before Prices Escalate is a Smart Strategy
Your best bet would be to invest now to lock in a lower price for a piece of real estate, and then refinance when rates are lower – you can always adjust the rate, but you can never change the price you paid for a home. It’s all about having a smart investment strategy, and buying now before the situation gets even more out of hand would be a good direction to go in.
Those new to the game may feel they won’t be able to move fast enough to secure a rental property before housing prices rise once again. If this is the case, work with a full-service investment company that will take care of all the details for you – from locating a property in a lucrative market to placing a tenant in the rental for you. If this sounds like something you’d like to look into, feel free to contact the team at Morris Invest.
You can also explore our power resources to sharpen your financial IQ and investor skills:
- Freedom Number Cheat Sheet
- 90-Day Financial Empowerment Bootcamp
- Property Downpayment Funding Strategy Ideas
- The Financial Freedom Academy
- Morris Invest & SDIRA Program Overview
Before you go, take a moment to dive into the following video that details the affordable housing crisis: