CNN —
Former President Donald Trump plans to ban mortgages for undocumented immigrants, he said in a speech at the Economic Club of New York on Thursday.
Trump claimed the measure would help address housing affordability because a “flood” of people entering the country illegally are pushing up housing costs, but undocumented immigrants only make up a tiny portion of the mortgage market.
In 2023, only 5,000 to 6,000 mortgages were made to holders of Individual Tax Identification numbers, according to a recent Urban Institute report. Those who are not legally authorized to work in
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