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from https://www.foxbusiness.com/media/former-acting-ice-director-reveals-biggest-issue-biden-policy-made-americans-losers-housing

Former acting ICE director reveals 'biggest issue' with Biden policy
that made Americans 'losers' in housing
Former acting ICE Director Jonathan Fahey cited a Fed Dallas paper
linking illegal immigration to a 2.2% rise in home prices

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Taylor Penley By Taylor Penley FOXBusiness

Biden's open-border policy 'never put American citizens first': Jonathan
Fahey
Former President Joe Biden's border policies forced Americans to
shoulder economic burdens through rising rents and lower wages, former
acting ICE Director Jonathan Fahey argued Monday.

"The American people overall are the losers on illegal migration," Fahey
told FOX Business' Cheryl Casone.

"Certainly, certain industries benefit from it, but the overall, it
makes more sense what President Trump and his administration are doing,
which is focusing on policies that protect American workers and make
their wages rise."

BIDEN'S ILLEGAL IMMIGRATION SURGE CAUSED HIGHER RENT AND HOME PRICES,
FED STUDY FINDS

Biden speaking on affordable housing
Then-President Joe Biden speaks at Stupak Community Center on March 19,
2024 in Las Vegas, Nev. (Ian Maule/Getty Images / Getty Images)

Joining "Mornings With Maria" following the July 4 weekend, Fahey
criticized the previous administration's approach to illegal
immigration, pointing to a Federal Reserve working paper that found the
record surge in illegal immigration during Biden's tenure was associated
with higher home prices and rents.

The paper, published by the Federal Reserve Bank of Dallas, combines immigration court records with government administrative data to measure
how the unprecedented wave of illegal immigration between 2021 and 2024 affected local labor and housing markets.

The authors caution the study is a preliminary draft circulated for professional comment and does not necessarily reflect the views of the
Federal Reserve Bank of Dallas or the Federal Reserve System.

BIDEN-ERA ILLEGAL IMMIGRATION DROVE UP HOUSING COSTS, FED ECONOMISTS FIND

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Border Patrol agents
A U.S. Border Patrol agent speaks to immigrants blocked from entering a high-traffic illegal border crossing area along Rio Grande in El Paso,
Texas on Dec. 20, 2022 as viewed from Ciudad Juarez, Mexico. (Getty Images)

Previous reporting found the influx of illegal immigrants boosted
employment with little measurable effect on wages but significantly
increased housing demand.

Fahey made a similar argument, linking the population surge to increased demand across multiple sectors.

"That's really just common sense. You bring in over 10 million people.
They didn't bring any homes with them. Prices are going to rise," he explained.

"But we also had wages [go] down during the Biden administration because
of it. Also, things like health care gets more expensive. No doctors,
nurses, or hospitals came across the border, or very few doctors and
nurses or anyone else, so that made that more expensive."

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The preliminary report's findings, however, suggested that a 1% increase
in unauthorized workers relative to a local labor force corresponded
with roughly a 1% increase in overall employment, with no evidence that
the immigration surge reduced average wages.

At the same time, the population increase was associated with a roughly
2.2% rise in home prices and a 1.4% increase in rents, reflecting an additional demand shock in an already strained housing market.


FOX Business' Amanda Macias contributed to this report.


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