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2 weeks ago

Biden-era illegal immigration drove up housing costs, Fed economists find

A new Federal Reserve working paper found the record surge in illegal immigration during the Biden administration triggered higher home prices and rents.The findings arrive as immigration remains a polarizing political issue. Republicans argue former President Joe Biden's border policies strained housing and public resources, while Democrats say immigration helped ease labor shortages and supported economic growth.THE KEY STRATEGY RED STATES ARE USING TO LOWER HOUSING COSTS REVEALEDThe paper, published by the Federal Reserve Bank of Dallas, combines immigration court records with government ad...