Biden-Era Immigration Surge Added to US Housing Costs, Says Federal Reserve Study

The Federal Reserve has done a study on how immigration was affecting housing costs in the United States during Joe Bidens presidency. This study found that many people coming to Washington without proper documents during that time made housing prices and rents go up.

The study looked at what happened when many migrants arrived in the United States between 2021 and 2024. The findings indicate that while these newcomers helped fill jobs, they also increased the competition for housing in cities where the market was already strained.

For every one percent of workers in a city there was about one percent more people working, the housing prices went up by about 2.2 percent and rents went up by about 1.4 percent. The study did not find that many new houses were built to give these people places to live. The study said that undocumented immigration was a part of why employment and housing prices went up in cities between March 2021 and March 2024.

The economists who did the study are careful to say that this does not mean that immigration was the reason housing costs went everywhere. This study is, about what happened during a time when many people were coming to the United States without permission. The study says that seven million undocumented migrants came to the United States before the influx began to slow in mid-2024.

People are already arguing about immigration. How it affects the United States.Some people say that Joe Bidens policies made it harder for people to find houses and get services. While others say that more immigration helped people get jobs and made the economy better. The people who did the study want other experts to look at their work and give them feedback. They are clear that their study is not the view of the Federal Reserve Bank of Dallas or the Federal Reserve.