Latest / The 47 Morning Update with Ben Ferguson
Deportations Cure Rent Inflation, When We Have No Evidence meets Do It Anyway plus the Final 3 Historic Victories of 2025 Week In Review
1. Immigration and Housing Mass immigration under President Biden increased rental demand and housing prices. Trump’s deportations and border enforcement are lowering rents and home prices. Median age of first-time homebuyers is rising above 40 (highest since WWI). Wharton study: “Every 1% population increase → rents up 1%.” Recent rent declines (−1.1% YoY, −5.2% vs. 2022 peak). Tax Policy Changes (2026) Highlights upcoming measures: No tax on tips No tax on overtime No tax on Social Security for seniors Suggests millions will receive IRS refunds starting…
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