Do you agree with the Vice President…

Martha MacCallum: “Do you agree with the Vice President… that the number of people that came into the country illegally is one of the major factors that drove up housing prices?”

Fed Governor Stephen Miran: “So I absolutely believe that is the case… The supply of homes adjusts only very slowly, and if you throw a large number of new people into an economy, you’re going to push up the price of housing because people need a place to live.”

“And the supply of homes can’t expand instantly. It takes time.”

Very well said!