A recent working paper released by two economists working for the Federal Reserve Bank of Dallas has suggested that illegal migration over the Biden years contributed to as much as a 20% growth in recent years and a whopping 30% increase in housing prices over the last five years. The paper, titled “The Impacts of Unauthorized Immigration on U.S. Labor and Housing Markets: New Evidence from Administrative Microdata,” provides strong evidence to support the claim that illegal migration has not only worsened an affordability crisis in America, but is one of its key drivers.
For years, America has faced a chronic shortage of housing, a problem that is most acute in metropolitan areas where the number of new homes being built has severely lagged the skyrocketing demand. In the years Biden occupied the Oval Office, hordes of illegals – to the tune of, at least, 15 million – entered the homeland. This placed severe pressure on an already tight and inelastic housing market.
