The Brookings Institution issued a report this week that suggests the millions of migrants admitted to the United States under former President Joe Biden, which was the largest mass migration by a one-term president in American history, caused housing prices to increase while reducing wages.
“The influx may have reduced average wages of all workers by as much as 1.5%, likely in part because immigrants took lower-wage jobs. But U.S. natives’ wages rose 0.9% overall and native-born employment was roughly unchanged,” the report details:
Housing demand generated by the new immigrants caused rents to rise by 1.4 to 1.6%, the paper finds, but native renters’ wages rose by more, increasing at least 1.6% net of the rent increase. [Emphasis added]
Brookings researchers spun the mass migration as being a net benefit for Americans.
“Housing demand generated by the new immigrants caused rents to rise by 1.4 to 1.6%, the paper finds, but native renters’ wages rose by more, increasing at least 1.6% net of the rent increase,” a breakdown of the report states.
The report follows a series of research papers that reviewed the impact that Biden’s mass migration had on Americans, their jobs, their earnings, and housing inflation.
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In June, the Federal Reserve Bank of Dallas reported that the impact of mass immigration caused housing prices to rise from early 2021 to early 2024 and found that adding more people to the U.S. population drove up costs.
“… we find that during the boom period an increase in unauthorized immigrant worker flows [UIWF] equal to 1% of a local area’s initial employment increased local house prices by 2.2% and increased local rents by 1.4%,” the Dallas Fed report states:
A back-of-the-envelope calculation suggests that UIWF [unauthorized immigrant worker flows] can explain about 30% of the total growth in house prices and 20% of total growth in rents over the boom period for the average local market. [Emphasis added]
A Housing and Urban Development investigation published last year found that Biden’s importing of millions of migrants drove up prices for Americans who are low-income but do not receive public assistance.
John Binder is a reporter for Breitbart News. Email him at [email protected].
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