Elon Musk weighs in on economic impacts of illegal immigrationBillionaire Elon Musk weighed in on the economic impacts of illegal immigration in a series of posts on social media as he criticized the Biden administration’s handling of the border crisis.
Musk took to X, the social media platform formerly known as Twitter that he acquired and rebranded, to call out a variety of services and benefits that illegal immigrants have access to in the U.S. and argue they’re contributing to the housing affordability crisis.
"A few other things you probably don’t know: illegals in America can get bank loans, mortgages, insurance, driver’s licenses, free healthcare (California & New York) and in-state college tuition," Musk wrote. "What’s the point of being a citizen if an illegal gets all the benefits, but doesn’t pay taxes or do jury duty?"
"If you’re wondering why housing is so expensive, this is a major contributor," Musk added.
Housing prices in the U.S. hit a new record high in November amid an ongoing shortage of inventory. Mortgage rates are near the highest level in two decades due to the Federal Reserve’s fight against inflation, which has made sellers locked into low-rate mortgages reluctant to sell.
Not only are homebuyers struggling in the current housing market, but burdens on renters are rising as well. Harvard’s Joint Center for Housing Studies found that the number of American renters considered "cost burdened" by their monthly housing payment in 2022 hit an all-time high of 22.4 million. Renters are considered burdened if they spend more than 30% of their income on rent and utilities, and the 22.4 million total amounts to roughly half of U.S. tenants..................
https://www.foxbusiness.com/economy/elon-musk-weighs-economic-impacts-illegal-immigration
