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Fed Study: Illegal Immigration Caused 30% Of Home Price Spikes While Deflating American Wages

The Fed Reserve paper found illegal immigration drove up housing costs without increasing available housing and decreased wages.

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As more studies continue to show causation between immigration and skyrocketing housing prices, a March working paper from the Federal Reserve Bank of Dallas shows illegal immigration drove up Americans’ housing prices and rent costs while deflating the value of their paychecks.

During an unprecedented boom of undocumented border crossings between 2021 and 2024, the Fed Reserve paper found that approximately 7 million unauthorized immigrants entered the United States at double the rate of legal immigration, directly affecting the cost of living and working wages for everyday Americans. (While this study puts the number of illegals that entered the country at 7 million, other estimates show it was far higher.)

“The influx of these immigrant workers acted as a positive supply shock to local labor markets, it acted simultaneously as a demand shock to local housing markets, boosting rents given relatively inelastic short-run housing supply,” noted paper authors Daniel J. Wilson and Xiaoqing Zhou.

The authors also noted that the majority of illegal immigrants tend to be a lower-skilled, lower-educated demographic,........

© The Federalist