In keeping with the survey, roughly 41.6 % of U.S. owners imagine that Donald Trump is finest suited to keep up excessive dwelling values, whereas 35.3 % favor Kamala Harris for this position. Though owners usually see excessive dwelling values as useful since a lot of their wealth is tied to dwelling fairness, one-third of People 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 owners and renters concerning candidates and key points affecting housing.
The survey, centered on 805 owners out of 1,802 respondents aged 18-65, requested contributors: No matter who you propose on voting for, which candidate do you assume might be finest for retaining dwelling values excessive?
In keeping with the survey, roughly 41.6 % of U.S. owners imagine that Donald Trump is finest suited to keep up excessive dwelling values, whereas 35.3 % favor Kamala Harris for this position.
Though owners usually see excessive dwelling values as useful since a lot of their wealth is tied to dwelling fairness, one-third of People don’t personal their properties. Roughly 49 % of renters surveyed imagine Kamala Harris could be higher for housing affordability, in comparison with 31 % for Donald Trump.
Moreover, 30 % of renters listed housing affordability as a top-three situation influencing their presidential selection, in comparison with solely 17 % of house owners. Owners had 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. owners and 894 U.S. renters to rank an inventory of 14 points to find out: “How vital will every of those points be in your selection of which candidate to help.” The survey’s findings spotlight that the financial system is the main situation 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 attributable to low mortgage charges, others had been priced out as housing costs soared. In keeping with 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 yr, they continue to be above pre-pandemic ranges.
This rising concern is mirrored in purchaser conduct, 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 might be enacted earlier than making their buy, in response to 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 owners 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 situation in comparison with 20.4 % of Trump supporters. This development might 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 impression of migration on the 2024 presidential election. Danielle Hale, chief economist at Realtor.com, notes that shifting populations may reshape voting habits, notably in swing states the place even minor adjustments in demographics can affect outcomes.
“The affect of migration on election outcomes is a compelling matter of dialogue, sparking curiosity in how shifting populations may reshape the political panorama, ” stated Hale. “As extra folks transfer throughout state strains, their voting habits may have the potential to sway election outcomes, particularly in essential swing states, the place even small adjustments within the citizens can tip the scales. This dynamic raises vital questions on how migration tendencies may affect the way forward for American politics this yr and past.”
Key findings on migration embody potential tendencies for varied states within the upcoming election:
4 blue states (Connecticut, Delaware, Washington, D.C. and Maine) may development bluer.
Seven blue states (California, Colorado, Illinois, Minnesota, New York, Oregon and Washington) may development redder.
Three purple states (Alaska, Florida and Ohio) may shift bluer.
Twelve purple states (Kansas, Kentucky, Louisiana, Missouri, Nebraska, North Dakota, South Carolina, South Dakota, Tennessee, Texas, Utah and Wyoming) may development redder.
Three swing states (Arizona, Georgia and North Carolina) may development redder, whereas two swing states (Wisconsin and Nevada) may shift bluer.
Michigan and Pennsylvania present blended shifts with no clear course.
New Jersey exhibits the most important distinction favoring blue customers, whereas Tennessee is the best choice for purple consumers. Florida, Texas and North Carolina are among the many main locations for each blue and purple homeshoppers, possible attributable to their comparatively reasonably priced housing markets and favorable climates.
As voters put together for the upcoming election, the connection between housing tendencies and political preferences continues to evolve. With important consideration on housing affordability, opinions on candidate housing coverage may considerably impression voter turnout and decision-making within the 2024 presidential election.
E mail Richelle Hammiel
