Deportations Cure Rent Inflation, When We Have No Evidence meets Do It Anyway plus the Final 3 Historic Victories of 2025 Week In Review

The 47 Morning Update with Ben Ferguson · Dec 20, 2025 · 29m · transcript

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…