The allegations of Bidenflation making the economy worse was something that the left has been trying to play off for months now. They believed that everything the President was doing would only help the housing market. From sky-high mortgage rates to artificially inflated housing shortages, they saw it as the greater good.
Now, leftist-based and corporate-backed news outlet Axios is even being forced to admit the Biden administration has not only wrecked the economy but created a housing demand we didn’t need. By introducing all the illegals into the US with full government assistance being handed over like the keys to the city, they are sending the prices for rentals soaring.
As we have seen with welfare and other programs, landlords will gladly send their rate up to the cap the government authorizes. Another great example comes from hotels. The government rate for a hotel room almost always matches the TDY (temporary duty travel) rate for that zip code. Higher-end hotel chains, predominantly ones near major military installations and in large cities, are all guilty of doing this.
With 60k illegals making their way onto American streets in an average month, plus the over a million who were able to get green cards last year, housing gets short quickly. As Axios wrote, “Cities simply don’t have enough affordable homes, enough shelters, or enough money to help everyone who needs it, straining scarce resources and leaving thousands of people out on the street. Soaring housing costs and the end of some pandemic-era safety nets have fueled an affordable housing shortage, causing homelessness to rise in many cities.”
A great example comes from New York City. Receiving 110k known illegal border crossers and illegal aliens, on top of countless unknown ones, the city has seen rent soar from an established $3,500 median price to $3,700 from September 2022 to 2023. Given the massive withdrawal of renters from the city in the last year as crime and other costs soar, it becomes clear just how badly the government vouchers and poor decision-making have cost the city.
It’s not easy to see the median tick up this much, and it takes a severe disruption to the rates. Especially when they were around $2725 back in January 2022. While NYC has always had an ebb and flow based on the season, as do most northern states, this is an extreme flow in the pricing changes. Mayor Adams announced roughly a week prior that NYC would be expanding government housing developments in every area of the city. No matter what the historical zoning restrictions might be.
Back in May, fellow left-wing rag, New York Magazine, even made a similar admission by deeming all the illegal immigration to be a bad decision for rental pricing across the city. Even the New York Times and Wall Street Journal, who are widely renowned for their leftist politics, have been speaking out against these decisions, yet Mayor Adams does nothing but support them, as does Democratic Governor of NY and puppet master Kathy Hochul.
Sen. J.D. Vance (R-OH) has been hitting the bricks to speak out against the decision to continue supporting the mass migration of illegals.
Speaking with Breitbart about the subject, Vance has been firmly entrenched against the left and their crazed supporters.
“Think about what this does for housing prices when you have to house 10 million people that shouldn’t be here, that drives up the costs of housing when interest rates are already through the roof. This is economic warfare and theft of the American dream from American citizens, that is the big problem here and that’s why we have to keep fighting it.”
Effectively pricing Americans out of America, it’s interesting to see so many fleeing to Cosa Risa, Guatemala, and other nations where they will not only survive but thrive.