(José Niño, Headline USA) On Sunday, Just the News reported on a striking new Federal Reserve Bank of Dallas working paper that ties the Biden era surge in illegal immigration to a sharp jump in housing costs. The outlet summarized findings that the migrant wave lifted employment while driving roughly 30% of home price increases and 20% of rent increases from 2021 through 2024.
As Just the News noted, economists Daniel Wilson and Xiaoqing Zhou merged immigration court records with government administrative data to build what they call the first ever measure of how about 7 million illegal immigrants reshaped local labor and housing markets. The authors wrote that “from early 2021 to early 2024, the U.S. experienced an unprecedented boom in unauthorized immigration, followed by a rapid slowdown beginning in mid-2024. We provide the first systematic empirical assessment of the labor- and housing-market effects of this episode.”
Read Full Article: https://headlineusa.com/fed-report-biden-immigration-wave-drove-up-housing-costs/
