Federal Reserve working papers found that unauthorized immigration during the Biden administration increased U.S. home prices by 2.2% and rents by 1.4%. Research from the Dallas Fed further estimated that illegal immigrant flows accounted for 30% of home price growth and 20% of rent increases. Consequently, federal authorities issued new guidance to financial institutions regarding credit risks associated with borrowers lacking U.S. work authorization.
Federal authorities issued new guidance to financial institutions regarding credit risks from borrowers without legal U.S. work authorization.
Read the full storyA Dallas Fed working paper links unauthorized immigration to 30% of home price increases and 20% of rent growth due to supply-demand imbalances.
A Federal Reserve working paper links unauthorized immigration to a 2.2% rise in US home prices and a 1.4% increase in rental costs during the Biden administration.