Thirty-eight p.c of early voters stated housing affordability influenced their presidential vote. Harris voters (43 p.c) had been extra prone 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 line with a survey from Redfin.
Voters who supported Vice President Kamala Harris‘ ticket had been extra doubtless (43 p.c) 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 properly beneath 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).
“Whereas voters who’ve already forged their poll had been extra prone to cite points apart from housing affordability, it’s nonetheless an essential issue for a lot of voters,” the report learn.
Harris and Trump have each provided 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 inexpensive housing.
In the meantime, Trump’s housing coverage focuses on chopping constructing rules, decreasing power prices and limiting undocumented immigrants’ housing rights, as he blames them for the nation’s housing scarcity.
“It has develop into rather more tough to afford to purchase or lease a house for the reason that pandemic-driven transferring growth, which drove up housing prices,” the report learn. “It’s price noting that properties in historically blue components of the nation are sometimes fairly costly, which is probably going one purpose Harris voters had been extra prone 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 problem had a barely higher impression 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) had been the one points to outrank housing affordability on the native degree 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 imagine the election’s outcomes will impression 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 had been extra doubtless (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 price in response to inflation and different macroeconomic tendencies. Nonetheless, the president and Congress can affect the “long-term route of the economic system” via coverage adjustments.
