Meanwhile, nearly two-thirds of respondents to a new Redfin survey say housing affordability makes them feel negative about the economy.
More than half (53.2%) of U.S. homeowners and renters say housing affordability is impacting who they plan to vote for in the upcoming presidential election. That’s according to a Redfin-commissioned survey conducted by Qualtrics in February 2024. The nationally representative survey was fielded to roughly 3,000 U.S. homeowners and renters.
“Housing affordability is top of mind for voters because elevated mortgage rates and home prices, along with an acute housing shortage, have pushed the dream of homeownership out of reach for many Americans,” said Redfin Chief Economist Daryl Fairweather. “While the economy is strong on paper, a lot of families aren’t feeling the benefits because they’re struggling to afford the house they want or already live in. As a result, many feel stuck, unable to make their desired moves and life upgrades.”
Nearly two-thirds (64.2%) of homeowners and renters say housing affordability makes them feel negative about the economy.
President Biden last week unveiled a number of initiatives aimed at making housing more affordable. His proposal includes tax credits for first-time buyers and sellers of starter homes, along with a plan to build more than 2 million new homes.
