About 41.6% of U.S. homeowners think Donald Trump is the best person to maintain high home values, according to the survey, and 35.3% support Kamala Harris in this role. . Homeowners generally believe that high home values are beneficial because so much of their wealth is tied up in home equity, yet one-third of Americans do not own a home.
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As the 2024 presidential election approaches, a Redfin-commissioned survey conducted by Ipsos last month found significant differences in priorities between homeowners and renters when it comes to candidates and key issues affecting housing. One thing became clear.
investigationfocused on 805 homeowners out of 1,802 respondents aged 18 to 65 and asked participants the following questions: Regardless of who you plan to vote for, which candidate do you think is best for keeping home values high?
About 41.6% of U.S. homeowners think Donald Trump is the best person to maintain high home values, according to the survey, and 35.3% support Kamala Harris in this role. .
Homeowners generally believe that high home values are beneficial because so much of their wealth is tied up in home equity, yet one-third of Americans do not own a home. Some 49% of renters surveyed think Kamala Harris is better at housing affordability, compared to 31% for Donald Trump.
Additionally, 30% of renters cited housing affordability as a top three issue influencing their presidential choice, compared to just 17% of homeowners. Homeowners were more likely to list the economy as their top concern.
In another part of the investigation, A group of 804 US homeowners and 894 US renters. Rank the list of 14 questions to determine:How important will each of these issues be when choosing which candidate to support? ” The survey results highlight that the economy is a key issue overall, with 46% of respondents citing the economy as their top concern, followed by inflation (40.4%), health care (26.3%) and Housing affordability (25.1%) followed by crime and crime. Safety (23.5%).
home ownership patterns
The pandemic has affected home ownership patterns. Many people were able to buy homes thanks to low mortgage interest rates, but others saw their prices drop due to soaring home prices. According to Redfin’s Chief Economist Darryl Fairweatherhigh mortgage rates are making affordability even more difficult for first-time buyers, and renters are making housing affordability a priority this election cycle. While starter home prices are down from last year, they are still above pre-pandemic levels.
This growing concern is reflected in buyer behavior, with one survey showing that 23% of prospective first-time buyers expressed doubts that Harris’ housing affordability plan or Trump’s proposed policies would come to fruition. Some respondents said they would wait until after the election to decide whether to purchase the product. Redfin Report.
Economically, 52.1% of homeowners feel they are better off than they were four years ago, compared to 44.2% of renters. This disparity is largely due to rising home prices, which have helped homeowners build significant equity.
Among voters, Kamala Harris supporters are slightly more likely to prioritize housing affordability, with 25.1% citing it as a top priority compared to 20.4% of Trump supporters. This trend may reflect the fact that Democrats tend to live in more expensive coastal and urban areas.
Demographic changes will reshape voting habits
a Report from Realtor.com We also explore how immigration will affect the 2024 presidential election. Daniel Hale, chief economist at Realtor.com, said demographic changes could change voting habits, especially in battleground states where even small changes in demographics can affect the outcome.
“The influence of immigration on election outcomes is a controversial topic, raising interest in how population movements reshape the political landscape.” Hale. “As more people move across state lines, their voting habits can determine election outcomes, especially in key battleground states, and even small changes in the electorate can tip the scales. The move raises important questions about how immigration trends are likely to affect the future of American politics this year and beyond.
Key findings on immigration include potential trends for different states in the upcoming elections.
- The four blue states (Connecticut, Delaware, Washington, D.C., and Maine) may be trending more blue.
- Seven blue states (California, Colorado, Illinois, Minnesota, New York, Oregon, and Washington) may be trending toward red.
- Three red states (Alaska, Florida, and Ohio) could move more blue.
- The 12 red states (Kansas, Kentucky, Louisiana, Missouri, Nebraska, North Dakota, South Carolina, South Dakota, Tennessee, Texas, Utah, and Wyoming) could be trending even redder.
- Three battleground states (Arizona, Georgia, and North Carolina) are likely to trend more red, and two battleground states (Wisconsin and Nevada) could trend more blue.
- Michigan and Pennsylvania are seeing mixed changes with no clear direction.
New Jersey saw the biggest difference for blue buyers, while Tennessee was the top choice for red buyers. Florida, Texas, and North Carolina are prime destinations for blue and red homebuyers due to their relatively affordable housing markets and favorable climates.
The relationship between housing trends and political preferences continues to evolve as voters prepare for the next election. With housing affordability in the spotlight, candidates’ opinions on housing policy could have a significant impact on turnout and decision-making in the 2024 presidential election.
Email Richelle Hamiel
