Snapshot from Jul 24, 2026 at 07:00 UTC. For live data and tracking: View Live
Events / Political / Dallas Fed paper on immigration...
Domestic research paper

Dallas Fed paper on immigration housing impact

Analysis based on 7 articles · First reported Jun 29, 2026 · Last updated Jul 07, 2026

Sentiment
-10
Attention
4
Articles
7
Market Impact
General
Live prominence charts, article sentiment distribution, and event development timeline available on the Ergen Dashboard
Market Impact

The paper adds to the debate on immigration's role in housing affordability, potentially influencing policy discussions. It may affect sentiment in real estate and construction sectors, but as a working paper, its immediate market impact is limited.

real estate construction
Event Summary

The United States — Federal Reserve published a working paper estimating that the surge in unauthorized immigration during the Biden administration (2021-2024) contributed to about 30% of home-price growth and 20% of rent growth in average metropolitan areas. The paper found that a 1% increase in unauthorized workers relative to local labor force raised home prices by 2.2% and rents by 1.4%, with little effect on wages. The influx acted as a housing demand shock in supply-constrained markets. The paper is preliminary and does not represent official Fed views.

Key Actions
90 United States — Federal Reserve published working paper
70 Joe Biden presided over immigration surge United States
50 United States — Congressional Budget Office estimated immigration numbers
Entities Involved
cbnk
United States — Federal Reserve
Published the working paper that is the focus of the event.
Importance 100.0 Sentiment 0.0
per
Joe Biden
His administration's border policies are cited as the context for the immigration surge studied.
Importance 80.0 Sentiment -30.0
cnt
United States
The country affected by the immigration surge and housing cost increases.
Importance 70.0 Sentiment -10.0
per
Daniel J. Wilson
Co-author of the Dallas Fed working paper.
Importance 50.0 Sentiment 0.0
per
Xiaoqing Zhou
Co-author of the Dallas Fed working paper.
Importance 50.0 Sentiment 0.0
govactor
United States — Congressional Budget Office
Provided estimates of net unauthorized immigration that the paper cites.
Importance 40.0 Sentiment 0.0
polparty
United States — Republican Party (United States)
Cited as arguing that Biden's border policies strained housing and public resources.
Importance 30.0 Sentiment 0.0
polparty
United States — Democratic Party (United States)
Cited as arguing that immigration helped ease labor shortages and support economic growth.
Importance 30.0 Sentiment 0.0
ngo
Harvard Joint Center for Housing Studies
Cited as urging caution about treating immigration as the main driver of the affordability crisis.
Importance 20.0 Sentiment 0.0
Relationships
United States — Federal Reserve related ↔ Joe Biden
United States — Federal Reserve related ↔ United States
United States — Federal Reserve related ↔ United States — Republican Party (United States)
United States — Federal Reserve related ↔ United States — Democratic Party (United States)
Joe Biden president ↔ United States Joe Biden serves as the President of the United States, acting as its head of state, head of government, and commander-i
Joe Biden related ↔ United States — Republican Party (United States)
Joe Biden related ↔ United States — Democratic Party (United States)
United States related ↔ United States — Congressional Budget Office
United States related ↔ United States — Republican Party (United States)
United States related ↔ United States — Democratic Party (United States)
United States — Congressional Budget Office related ↔ United States — Republican Party (United States)
United States — Congressional Budget Office related ↔ United States — Democratic Party (United States)
United States — Republican Party (United States) related ↔ United States — Democratic Party (United States)
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