Republican vice presidential nominee Sen. JD Vance, R-Ohio, kept his promise to back up his claim about immigration driving up U.S. housing costs. He did so during the CBS News Vice Presidential Debate.
During the debate, Vance blamed Vice President Kamala Harris' border policies for bringing "25 million illegal aliens" into the U.S. He said this surge in migrants has caused higher housing prices.
"Competing with Americans for scarce homes is one of the most significant drivers of home prices," Vance stated. He linked the rise in housing prices directly to "massive increases in illegal aliens" during Harris' time in office.
A moderator challenged Vance to provide evidence for this claim. "What evidence do you have that migrants are part of this problem?" the moderator asked.
Vance replied, "There's a Federal Reserve study that really drills down on the connection between increased levels of migration and higher housing prices." He promised to share the study on social media after the debate.
Later that night, Vance posted on X. He shared a quote from Federal Reserve Governor Michelle Bowman, saying that an influx of immigrants could "result in upward pressure on rents."
Vance also pointed to a 2017 study from the Journal of Housing Economics. It found that immigration inflows were linked to increased rents and house prices in certain areas.
He also mentioned a report from the Congressional Budget Office. It stated that increases in immigration led to higher spending on housing, education, and healthcare for state and local governments.