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Bessent: immigration crackdown cuts rents
Treasury Secretary Bessent cites an SF Fed paper saying unauthorized immigration drove 20% of 2021-2024 rent growth, claiming Trump enforcement lowers rents.
Key points
- Bessent cited a San Francisco Federal Reserve paper finding that the influx of unauthorized immigrants under the radical left accounted for 20% of rent growth during the 2021-2024 Bidenflation surge.
- Bessent said state-level data show a strong association between increased immigration enforcement and more affordable rents.
- One reply cited the same SF Fed paper as finding the 2021-2024 illegal immigration boom pushed up rents and home prices without expanding housing supply.
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Original post
A San Francisco Federal Reserve paper recently found that the influx of unauthorized immigrants under the radical left accounted for 20% of rent growth during the 2021-2024 Bidenflation surge.
By contrast, President Trump’s immigration enforcement policies are producing the opposite effect. State-level data show a strong association between increased immigration enforcement and more affordable rents.
@POTUS will always put American families FIRST.
Top replies on X
Reaction on X: Replies largely agree with Bessent, framing the issue as an immigration rather than housing crisis and calling for deportations; several question the causal claim or point to HUD incentives, and one cites the same SF Fed paper on supply. Bessent did not respond.
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From @Omnidwell, @SundaeDivine, @Richardyork968 and others. Spam removed, with English and Chinese translations.
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