Thirty-eight p.c of early voters stated housing affordability influenced their presidential vote. Harris voters (43 p.c) have been extra more likely to care about housing than Trump voters (29 p.c), Redfin stated.
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Thirty-eight p.c of early voters stated housing affordability influenced their vote, in keeping with a survey from Redfin.
Voters who supported Vice President Kamala Harris‘ ticket were more likely (43 percent) than voters who supported former president Donald Trump’s ticket (29 p.c) to say their chosen candidate’s housing insurance policies impacted their vote. Though housing affordability was a part of the highest 14 points on voters’ minds, it nonetheless ranked nicely under different hot-button points together with the economic system (63 p.c), inflation (59 p.c), defending democracy (56 p.c), immigration (55 p.c) and healthcare (52 p.c).
“While voters who have already cast their ballot were more likely to cite issues other than housing affordability, it’s still an important factor for many voters,” the report learn.
Harris and Trump have each supplied plans to enhance affordability and enhance homeownership charges. Harris’s plan is arguably extra complete and contains $25,000 in down-payment help for first-generation homebuyers, a $10,000 tax credit score for middle-income householders, a closing value waiver on refinanced mortgage loans and $1 billion towards reasonably priced housing.
In the meantime, Trump’s housing coverage focuses on reducing constructing rules, reducing power prices and limiting undocumented immigrants’ housing rights, as he blames them for the nation’s housing scarcity.
“It has become much more difficult to afford to buy or rent a home since the pandemic-driven moving boom, which drove up housing costs,” the report learn. “It’s worth noting that homes in traditionally blue parts of the country are typically quite expensive, which is likely one reason Harris voters were more likely to say housing affordability impacted their vote than Trump voters.”
Though housing coverage ranked towards the underside for the presidential race, Redfin’s survey revealed the difficulty had a barely larger influence on voters’ native ballots. Forty p.c of respondents stated housing affordability impacted how they voted for native officers — a 5.26 p.c improve from voters who stated the identical for his or her presidential vote.
Crime and security (50 p.c), the economic system (46 p.c), and inflation (41 p.c) have been the one points to outrank housing affordability on the native stage with healthcare (37 p.c) and defending democracy (36 p.c) rounding out the highest 5 native voting considerations.
Lastly, voters on each ends of the spectrum stated they consider the election’s outcomes will influence mortgage charges.
Thirty-two p.c of Trump voters stated mortgage charges will fall if their candidate will get elected, whereas 23 p.c of Harris voters stated the identical. For many who anticipate charges to rise, Harris voters have been extra possible (32 p.c) to anticipate a bump if their candidate wins in comparison with Trump voters (28 p.c). Roughly a fourth of voters on either side of the spectrum stated they “don’t know” what’s going to occur to charges whereas roughly 20 p.c stated they assume charges will keep the identical.
Redfin stated the Federal Reserve has the largest affect on mortgage charges, as they set the federal funds charge in response to inflation and different macroeconomic tendencies. Nonetheless, the president and Congress can affect the “long-term direction of the economy” by means of coverage adjustments.
