Biden-era open-border policies triggered crippling spikes in home prices and rent across the country, according to a new Federal Reserve working paper.
“Americans are still reeling from the consequences of Biden’s border crisis, which made homes and rent unaffordable, and Democrats want to worsen the fallout by returning to the same open-border policies that fueled it in the first place,” said NRSC National Press Secretary Bernadette Breslin. “Senate Democrats support illegal immigration at the growing expense of hardworking families.”
The working paper explains how “each 1% increase in unauthorized workers corresponded with about a 2.2% rise in home prices and a 1.4% increase in rents.” Taken together, Biden’s illegal immigration wave accounted for roughly 30% of the increases in home prices and 20% of the increases in rent during the Biden administration.
The new report comes as Democrats across the Senate battleground continue to prioritize free healthcare for illegal immigrants over tax relief for hardworking Americans.
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