Trump Blames Biden Border Policy for Rising Home Costs

Former President Donald Trump on Tuesday blamed the Biden administration's border policies for rising home prices, pointing to a Federal Reserve study on unauthorized immigration. During a campaign event in New Hampshire, Trump said the influx of undocumented immigrants has driven up housing costs for American families.

The Federal Reserve study, published in 2023, estimated that unauthorized immigration increased housing prices by about 2% to 3% in the decade through 2022. But researchers who reviewed the study say Trump's characterization overstates the findings, noting that the study's authors themselves cautioned against attributing the bulk of price growth to immigration.

Economists point to a broader set of factors behind the housing crunch, including supply shortages, rising construction costs, and higher interest rates. The Fed study's lead author, when reached for comment, said the paper does not support the claim that immigration is the primary driver of home price increases.

Trump's remarks come as housing affordability has become a top issue for voters, with home prices up nearly 40% since 2020. His campaign has not released a detailed housing plan but has repeatedly linked immigration to economic pressures.

The Biden administration has defended its border policies, arguing that comprehensive immigration reform is needed to address the root causes of migration and that housing affordability requires a multi-pronged approach, including investments in new construction.