That explains migration within a country which doesn’t change population counts. Unless you’re claiming that white people are moving out of America because it’s too expensive and simultaneously Hispanics are moving into a higher COL area (even if not high COL cities, America as a whole is going to be higher COL than Latin America).

Based on the news I’ve been following, a more likely explanation is that Biden’s immigration policy has been more welcoming on the southern border at the same time as Latin America destabilizing quite a bit politically and generating a lot of refugee migration.

I just don’t see how high COL or lack of housing being built explains the population growth being dominated by Hispanics.