Joe Biden spent four years telling Americans the housing crisis had nothing to do with his open border.
Now the Federal Reserve Bank of Dallas has the receipts.
And HUD Secretary Scott Turner just laid out exactly what happens when a president actually puts American families first.
How Biden's Open Border Broke the Housing Market
The Dallas Fed paper is devastating in its simplicity.
Every 1% increase in unauthorized immigrant worker flows pushed local home prices up by 2.2% and rents up by 1.4%.
That's not a talking point.
That's the Federal Reserve.
Between 2021 and 2024, Biden's "unprecedented boom" in illegal immigration – the Fed's own words – drove roughly 30% of all home price growth and 20% of all rent increases in the average American metro area.
Thirty percent.
The Congressional Budget Office estimates net unauthorized immigration added roughly 7 million people to the country during that stretch, and Biden did nothing to expand the housing supply to absorb them.
The Fed researchers put a clinical name on it: a "housing demand shock in the presence of relatively fixed short-run housing supply."
Translation: Biden flooded the market with demand and left supply frozen.
The Federalist ran the math and found illegal immigration alone tacked roughly $30,000 onto the price of the average new home during Biden's term.
Former acting ICE Director Jonathan Fahey said what Democrats never would.
Fahey told Fox Business the math is basic: bring in ten million people, and they don't bring housing with them.
"That's really just common sense," Fahey said.
What Scott Turner Said at the State Fair That Should Make Every Homeowner Pay Attention
Turner wasn't at some Washington policy conference.
He was at the Great American State Fair.
That's intentional.
This administration is talking about housing where real Americans actually are – not in briefing rooms designed to insulate politicians from consequences.
Turner told Fox News Digital that the country was overrun with illegal immigration when Trump took office, and that the flood of new arrivals pushed prices higher for everyone already here.
Then he said the seven words the left cannot stand to hear.
"American houses are for American people."
Turner didn't stop at the border.
He outlined the two-front war Trump is fighting to actually fix this – attacking the regulatory red tape that builder groups say adds over $130,000 to the price of a new home, and expanding mortgage credit for the first-time buyers Biden left behind.
According to Turner's testimony to Congress, HUD supported homeownership for more than 1.2 million American households between January 2025 and March 2026 – over 70% of them first-time buyers.
Trump signed two executive orders in March 2026 to remove regulatory barriers to construction and improve mortgage access.
HUD has also rescinded a Biden-era energy code rule that was inflating FHA- and USDA-backed homebuilding costs with zero benefit to buyers.
Democrats Created the Crisis They Pretend to Care About
Here's what fires me up most about this story.
For four straight years, Democrats stood at podiums and lectured Americans about housing affordability while deliberately importing the single biggest driver of housing demand this country has ever seen.
HUD's own analysis found the surge in America's foreign-born population during that stretch was the largest in American history.
Democrats blamed landlords, investors, and interest rates instead.
They had the Fed's data sitting in front of them.
They chose open borders anyway.
The pattern here isn't complicated.
Trump's strategy is to remove the people competing with Americans for housing, tear down the regulations making it too expensive to build, and expand the credit pathways that let working families actually buy.
One of those is a plan.
The other is a scam.
Turner said it plainly at that state fair.
Four years of Biden policy proved exactly what happens when Washington decides otherwise.
Sources:
- Staff, "Biden's Illegal Immigration Surge Caused Higher Rent and Home Prices, Fed Study Finds," Fox News, July 2026.
- Staff, "Biden-Era Illegal Immigration Drove Up Housing Costs, Fed Economists Find," Fox Business, July 2026.
- Amanda Macias, "HUD Secretary Says Illegal Immigration Drove Housing Prices Up," Fox News, July 9, 2026.
- Staff, "Former Acting ICE Director Reveals Biggest Issue With Biden Policy That Made Americans Losers in Housing," Fox Business, July 2026.
- Staff, "Secretary Scott Turner Applauds President Trump for Cutting Red Tape, Restoring Housing Affordability," HUD.gov, March 2026.
- Scott Turner, Statement Before the House Appropriations Subcommittee on THUD, HUD.gov, May 12, 2026.
- Staff, "Illegal Immigration Made the Average New House $30K More Expensive Under Biden," The Federalist, July 2026.
- Staff, "Fed Working Paper Links Surge in Illegal Immigration to Higher Home, Rent Prices," TNND/ABC News 4, July 2026.
