Biden-Era Immigration Surge Boosted US Growth, Added to Rent Inflation

New Brookings research quantifies the economic impact of the post-pandemic immigration surge, finding it boosted GDP growth with minimal disruption to native-born workers but contributed to rent inflation. The paper arrives as net migration has fallen to near zero, marking a sharp reversal that could weigh on future growth. This matters because it reframes the immigration debate around measurable economic trade-offs rather than labor-market displacement.