– The massive illegal immigration into the US sent rents soaring, but wherever Immigration and Customs Enforcement (ICE) goes, they are now falling again, US Treasury Secretary Scott Bessent said on Thursday during a talk show on Real America’s Voice.

– For many years, we were told that supply and demand do not matter at all, Bessent said, but when an unknown number of illegal immigrants – was it 10, 15 or 25 million? – ended up in American communities, rents went up.

He continued: – People do not want to admit it, but there are academic studies showing that wherever ICE goes, rents go down.