Housing affordability poised to impact federal, state, local elections this fall

In the wake of rapid home-price appreciation during the Covid-19 pandemic, housing is playing a bigger role in how Americans vote — among one demographic in particular.

Ninety-one percent of adult Gen Zers said in a recent Redfin Corp. (Nasdaq: RDFN) survey housing affordability is important when considering whom they will vote for in the presidential election this November. Among a list of nine broad political topics, the subject ranked No. 1 for that generation — ranking even higher than the strength of the overall economy, which was the top priority for millennials, Gen Xers and baby boomers. Housing affordability for Gen Z respondents also outranked issues of education, gun rights and abortion rights.

The Redfin survey defined Gen Z respondents as people ages 18 to 27, with millennials ages 28 to 43, Gen Xers 44 to 59 and baby boomers 60 to 78.

Housing affordability ranked as the No. 3 most-pressing issue among millennials, with 87% of that generation who responded saying it was an important factor to consider in the upcoming election. It ranked No. 4 for Gen Xers, at 83%, and No. 6 for boomers, at 80%. Redfin surveyed about 3,000 homeowners and renters.

https://www.bizjournals.com/seattle/news/2024/06/10/housing-affordability-election-genz.html