Biden's illegal immigration surge triggered rise in home, rent prices: Fed paper

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. - Fox Business

A 1% increase in unauthorized workers relative to a local labor force corresponded with roughly a 1% increase in overall employment, with no evidence the immigration surge reduced average wages...
The economists estimate unauthorized immigrant worker flows accounted for 

• about 30% of employment growth, 
• roughly 30% of home-price growth, and 
• about 20% of rent growth in the average metropolitan area between March 2021 and March 2024...