According to the National Association of Realtors’ Housing Affordability Index, just three years ago, a homebuyer could afford a median-priced home on a $58,000 income. To afford the median home today, a household needs to earn $108,000, about 46% more.
But has the surge of immigration of the Biden-Harris administration affected housing affordability? According to economist Amy Nixon, a Dallas housing analyst, the supply and demand considerations are cut and dried.
Nixon’s likely low estimate of 4 million new illegal immigrants since 2021 (a Yale and MIT study found there were already as many as 22 million illegal immigrants in the U.S. in 2018) could actually conceal the extent of the demand pressures of immigration on the housing market.
