A strange speech in lots of ways, politically, and political conjecture can stay there.
The speech very very briefly and just once mentioned housing. He said "First, rapid changes in population led to pressures on scarce resources such as housing and schools."
This was one of three broad categories he claimed that Labour got it wrong. The other areas such as jobs and the pace of this change he elaborated in some, not all, detail - yet the pressures on schools and HOUSING he did not.
Many will interpret this once only mention of the word 'housing' and say, errantly, that immigrants got social housing - many already do believe that despite how wrong any such statement or belief is.
All this 'immigration' speech has done for housing is bolster a myth and the specific one that immigrants get all the social housing and that is a reason for the housing shortage. That argument is highly spurious given the many restrictions on immigrants getting social housing but I can see Shapps at some point blaming the housing shortage crisis - which he inherited and not caused but is making worse - on Johnny Foreigner as even the leader of the Labour Party admits or some such misquoting.
Clearly Milliband and Labour believe immigration is a higher electoral issue than housing but feathering the errant nest of those who believe all council houses go to immigrants is a real consequence of this for the housing sector and its image and reputation will suffer for that.