Liberal Forum

The Federal Reserve Bank of Dallas has published a new research paper that shows shocking findings about the effects of illegal immigration on the housing market. The paper provided the first systematic empirical analysis of the economic effects of the Biden administration’s open borders policies. 
 New administrative microdata showed illegal immigration caused a 30% increase in housing prices and a 20% increase in rent prices. Illegal aliens acted as a market shock, raising prices by reducing the supply of housing, with little to no increase in the housing supply working to balance the demand increase. As millions of illegals entered the country under the Biden administration, they increased demand for already-limited housing. Many also received taxpayer-funded assistance, putting additional pressure on the market. The result was greater housing scarcity and higher rents and home prices.
 The research also found that illegal immigration acted as a positive labor supply shock, meaning that the illegal immigrants increased the number of people available to hire. This, of course, benefited the corporations hiring them, but overall hurt American workers by decreasing wages.