Zillow CEO clarifies comments on housing affordability amid false claims about deportation plan

A recent Instagram post falsely claimed that Zillow CEO Jeremy Wacksman said President-elect Donald Trump's deportation plan would help housing affordability. Wacksman actually discussed the need for more homes to address market challenges without commenting on immigration. During a CNBC interview, Wacksman emphasized that the main issues in real estate are affordability and availability. He did not agree with the notion that deportation would impact housing costs and focused on the need for increased housing supply. Experts suggest that mass deportation could harm the housing market, as immigrants make up a significant portion of the construction workforce. They point to zoning restrictions and high land costs as key factors affecting housing supply.