Many Americans rightly blame the current housing affordability crisis on government for overspending and manipulating interest rates, which drove up prices and made borrowing prohibitively expensive.
Migrants queue in the cold as they look for a shelter outside a migrant assistance center at St. Brigid Elementary School, Dec. 5, 2023, in New York. Some immigrants in New York City could be formally denied emergency housing after …
This dynamic in the housing market has even been recognized by Neel Kashkari, president of the Federal Reserve Bank of Minneapolis. But you don’t need to be a Fed bank president to know that increasing the demand for housing will raise prices; it’s basic economics. How much have 10 million illegal aliens under the Biden administration contributed to greater housing demand and a doubling of the median monthly mortgage payment? To get a sense of the problem’s scope, consider that the millions of illegal aliens entering the country over the last 3½ years exceed the population of at least 40 states, including New Jersey, the most densely populated state in the union.
While that makes the effect less geographically acute, the nationwide impact is unchanged: illegal aliens are making housing more expensive for Americans. To add insult to injury, the radical left is using tax dollars to facilitate this atrocity. That means Americans are being forced to pay for the very thing that is helping drive up their own housing costs.
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