Abstract
This paper examines the impact of unskilled (not college-educated) and skilled (college-educated) immigration on housing prices and rental prices. An instrumental variable approach is employed to investigate causal effects. Results show that an increase in unskilled immigration inflows may lead to a greater rental price appreciation, but an increase in skilled immigration inflows may lead to a lower rental price appreciation. Contrary to previous studies, this study finds that immigration inflows have little housing price effects.
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