Trump Blames Biden Border Policy for Rising Home Costs

Former President Donald Trump on Tuesday blamed the Biden administration's border policies for rising housing costs, pointing to a Federal Reserve study on unauthorized immigration. But the researchers behind the study say Trump's characterization of their findings goes too far.

During a speech in New Hampshire, Trump claimed that the influx of undocumented immigrants under Biden has driven up home prices, citing the Fed research as evidence. The study, published last year, estimated that increased immigration, including unauthorized entries, has contributed to housing demand in certain regions.

However, the study's authors, who were not named in Trump's remarks, have pushed back against the notion that immigration is a primary driver of the national housing affordability crisis. They note that the study focused on localized impacts and did not conclude that unauthorized immigration is the main cause of rising home costs nationwide.

Economists point to a combination of factors, including supply chain disruptions, labor shortages, and historically low interest rates, as more significant contributors to the surge in home prices over the past few years. The debate comes as housing affordability remains a top concern for voters ahead of the 2024 election.

The Trump campaign did not respond to requests for further comment on the specific data used in the speech.