Based on the survey, roughly 41.6 % of U.S. householders imagine that Donald Trump is finest suited to keep up excessive dwelling values, whereas 35.3 % favor Kamala Harris for this function. Though householders usually see excessive dwelling values as useful since a lot of their wealth is tied to dwelling fairness, one-third of Individuals don’t personal.
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Because the 2024 presidential election approaches, a Redfin-commissioned survey carried out by Ipsos final month reveals notable variations in priorities between householders and renters concerning candidates and key points affecting housing.
The survey, centered on 805 householders out of 1,802 respondents aged 18-65, requested members: No matter who you intend on voting for, which candidate do you assume can be finest for maintaining dwelling values excessive?
Based on the survey, roughly 41.6 % of U.S. householders imagine that Donald Trump is finest suited to keep up excessive dwelling values, whereas 35.3 % favor Kamala Harris for this function.
Though householders usually see excessive dwelling values as useful since a lot of their wealth is tied to dwelling fairness, one-third of Individuals don’t personal their properties. Roughly 49 % of renters surveyed imagine Kamala Harris can be higher for housing affordability, in comparison with 31 % for Donald Trump.
Moreover, 30 % of renters listed housing affordability as a top-three concern influencing their presidential alternative, in comparison with solely 17 % of house owners. Owners have been extra prone to cite the financial system as a high concern.
A separate a part of the survey requested a group of 804 U.S. householders and 894 U.S. renters to rank a listing of 14 points to find out: “How important will each of these issues be in your choice of which candidate to support.” The survey’s findings spotlight that the financial system is the main concern general, with 46 % of respondents rating it as a high concern, adopted by inflation (40.4 %), well being care (26.3 %), housing affordability (25.1 %), and crime and security (23.5 %).
Homeownership patterns
The pandemic influenced homeownership patterns; whereas many achieved homeownership as a result of low mortgage charges, others have been priced out as housing costs soared. Based on Redfin Chief Economist Daryl Fairweather, excessive mortgage charges are additional complicating affordability for first-time consumers, prompting renters to prioritize housing affordability this election cycle. Though starter-home costs are down from final 12 months, they continue to be above pre-pandemic ranges.
This rising concern is mirrored in purchaser habits, with 23 % of potential first-time consumers indicating they’re ready till after the election to see whether or not Harris’ housing affordability plan or Trump’s proposed insurance policies can be enacted earlier than making their buy, in accordance with a Redfin report.
Financially, 52.1 % of house owners reported feeling higher off than 4 years in the past, in comparison with 44.2 % of renters. This disparity is essentially attributed to rising housing costs, which have helped householders construct important fairness.
Amongst voters, these supporting Kamala Harris are barely extra prone to prioritize housing affordability, with 25.1 % rating it as a high concern in comparison with 20.4 % of Trump supporters. This pattern could mirror the truth that Democrats are likely to reside in dearer coastal and concrete areas.
Shifting populations reshaping voting habits
A report from Realtor.com additionally explores the influence of migration on the 2024 presidential election. Danielle Hale, chief economist at Realtor.com, notes that shifting populations might reshape voting habits, significantly in swing states the place even minor adjustments in demographics can affect outcomes.
“The influence of migration on election outcomes is a compelling topic of discussion, sparking interest in how shifting populations might reshape the political landscape, ” mentioned Hale. “As more people move across state lines, their voting habits could have the potential to sway election outcomes, especially in crucial swing states, where even small changes in the electorate can tip the scales. This dynamic raises important questions about how migration trends could influence the future of American politics this year and beyond.”
Key findings on migration embrace potential developments for varied states within the upcoming election:
- 4 blue states (Connecticut, Delaware, Washington, D.C. and Maine) might pattern bluer.
- Seven blue states (California, Colorado, Illinois, Minnesota, New York, Oregon and Washington) might pattern redder.
- Three crimson states (Alaska, Florida and Ohio) might shift bluer.
- Twelve crimson states (Kansas, Kentucky, Louisiana, Missouri, Nebraska, North Dakota, South Carolina, South Dakota, Tennessee, Texas, Utah and Wyoming) might pattern redder.
- Three swing states (Arizona, Georgia and North Carolina) might pattern redder, whereas two swing states (Wisconsin and Nevada) may shift bluer.
- Michigan and Pennsylvania present combined shifts with no clear course.
New Jersey reveals the biggest distinction favoring blue consumers, whereas Tennessee is the best choice for crimson consumers. Florida, Texas and North Carolina are among the many main locations for each blue and crimson homeshoppers, doubtless as a result of their comparatively inexpensive housing markets and favorable climates.
As voters put together for the upcoming election, the connection between housing developments and political preferences continues to evolve. With important consideration on housing affordability, opinions on candidate housing coverage might considerably influence voter turnout and decision-making within the 2024 presidential election.
