While everyone keeps their eye on the ball — tariffs — the side effects of the Trump policy mix are being completely overlooked. Several cost categories are declining sharply, including rents.

The non-native labour force is down 1.4 million in 3–4 months. Costs like housing are dropping as a result — but no one notices, too biased against Trump to look at such details. I’m not judging the morals of it, just laying out the facts.