National CRE News In Your Inbox.
Sign up for Connect emails to stay informed with CRE stories that are 150 words or less.
Gen Z Rates Housing Affordability as Top Campaign Issue
Ninety-one percent of adult Gen Zers say housing affordability is the most important issue when considering who to vote for in the upcoming presidential election, according to a survey conducted for Redfin. Gen Zers were more likely to rate affordable mortgages or rents as an important factor in their vote than any other issue they were asked about, including the economy, abortion and gun rights, preserving democracy and foreign wars.
“Housing affordability is a cornerstone of this year’s presidential election because even though the economy is fairly strong, unemployment is low and wages are rising, buying a home feels impossible for many Americans,” said Redfin senior economist Elijah de la Campa. “This is particularly the case for young people, who have seen the cost of starter homes increase twice as fast as incomes.
“Young people care about other political issues, like immigration and abortion rights, but they’re more likely to cite housing affordability as a factor in their vote because it directly impacts the roof over their head, their lifestyle and their ability to build wealth,” he continued.
Presumptive Democrat presidential nominee Joe Biden has released a plan to address housing costs. On the Republican side, Donald Trump has said he has a strategy.
Gen Zers ranked the strength of the economy as the second most important issue. For Millennials, Gen Xers and Baby Boomers, the economy ranked first.
- ◦Economy
- ◦Policy/Gov't
