A recent survey conducted by Redfin revealed that 91% of adult Gen Zers prioritize housing affordability when deciding who to vote for in the upcoming presidential election. This issue outranks other important topics such as the economy, abortion and gun rights, preserving democracy, and foreign wars.
According to Redfin’s senior economist Elijah de la Campa, housing affordability is a crucial factor in this year’s election because despite a strong economy with low unemployment rates and rising wages, many Americans still struggle to afford homeownership. This is especially true for young people who have seen starter home prices rise at twice the rate of their incomes.
While Gen Zers do care about other political issues like immigration and abortion rights, they are more likely to consider affordable mortgages or rents as it directly affects their living situation and ability to build wealth.
Both presumptive Democrat nominee Joe Biden and Republican incumbent Donald Trump have addressed plans on addressing housing costs. However, among different generations (Millennials through Baby Boomers), the strength of the economy remains a top concern while ranking second for Gen Zers.
This post highlights how crucial affordable housing is in this year’s presidential campaign without mentioning any specific organizations or events related Connect CRE or its affiliates.
