Senator Reveals Why Home Ownership Is Dying

( Ohio Republican Senator J.D. Vance suggested last week that illegal immigration is depriving Americans of the dream of homeownership as citizens are having to compete with millions of illegal aliens for housing.

During a hearing of the Banking, Housing, and Urban Affairs Committee last Thursday, Vance pointed out that illegal immigration negatively impacts working-class and lower-middle-class Americans by depressing wages and increasing competition in the housing market, making it harder for first-time homebuyers to find affordable homes in good neighborhoods.

Vance argued that having between 20 and 25 million illegal immigrants in the United States “puts incredible pressure” on the housing market since there are more buyers and fewer homes.

Vance said that illegal immigration isn’t just a “law and order problem.” It is also an economic problem. He described the illegal immigration crisis as “wage theft in the form of competition for jobs.” Likewise, the influx of illegals also “means theft of the American dream of housing” as up to 25 million illegal aliens are “competing with American citizens” in buying or renting a home.

According to a 2017 study in the Journal of Housing Economics, increases in immigration are linked to a rise in home prices and rent in metropolitan areas.

In October, the New York Times reported that rent and housing prices in Ontario, Canada were surging as a result of mass migration, with Canadians being forced to compete for housing against an increasing foreign-born population.

Earlier this month, a report from the Center for Immigration Studies found that of the $2.1 billion New York State paid to the newly arrived illegal immigrants, a significant portion ended up paying for rent and home purchases, a trend that likely holds in US cities throughout the country.

Last August, Breitbart News reported that when the number of illegal aliens increases in a particular location, housing costs, both rental and home sale prices, increase as well.