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.
\n\n“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:
\n\nHousing 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]
\n\nBrookings researchers spun the mass migration as being a net benefit for Americans.
\n\n“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.
\n\nThe 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.
\n\nIn…
Original source: https://www.breitbart.com/economy/
