Newly released housing data show that in November, rents declined again as demand fell and vacancies reached a record high.
CNBC reports:
The national median rent for apartments fell 1% in November from October, and now stands at $1,367, according to Apartment List. It was the fourth consecutive month-over-month decline. Apartment rents are down 1.1% from November 2024 and have fallen 5.2% from their 2022 peak. [Emphasis added]
Housing and Urban Development (HUD) Secretary Scott Turner said it is not a coincidence that rents have dropped just as the Trump administration has drastically cut illegal immigration and slowed legal immigration levels.
“6 months of ZERO illegals released into our country. 2 million illegals removed. Rents drop for the fourth straight month,” Turner wrote on X. “Coincidence? I think not!”
Vance similarly posted on X that “the connection between illegal immigration and skyrocketing housing costs is as clear as day.”
“We are proud to be moving in the right direction,” Vance wrote. “Still so much to do.”
Vance has been at the forefront of pointing out the link between mass immigration and high home and rent prices — describing the issue as a simple supply and demand problem.
Vance said in a recent interview:
To me [this] is maybe the most important because I care so much about our young people being able to afford a good life, a lot of young people are saying, ‘Housing is way too expensive. Why is that? Because we flooded the country with 30 million illegal immigrants who are taking houses, which ought by right go to American citizens and at the same time, we weren’t building enough new houses to begin with even for the population we have.
In September, economists in Denmark published research that found that mass immigration hugely drives up rents and home prices for the local population.
“Our results suggest large and positive impacts of immigration on private rental prices and house prices at the municipal level,” the researchers detail:
More specifically, we find that a one percentage point increase in the local immigration influx over a five-year horizon relative to the local population in the base year 1995 leads to an average increase of approximately 6 percent and 11 percent in private rental prices and house prices at the municipal level, respectively, during the same period.
[Emphasis added]
The newest study is added to decades of published research, which comes to the same conclusion — mainly that mass immigration does impact rent and home prices.
Last year, Center for Immigration Studies researcher Steven Camarota revealed a similar statistic to Congress, stating that “a 5-percentage-point increase in the recent immigrant share of a metro area’s population is associated with a 12-percent increase in the average U.S.-born household’s rent, relative to their income.”
John Binder is a reporter for Breitbart News. Email him at jbinder@breitbart.com. Follow him on Twitter here.
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