Rent and home prices are through the roof. Harris and Trump each say they have the answer
CNN
Home-building policy, local zoning restrictions and the use of federal lands don’t usually find their way into the world of flashy presidential campaign politics, but both Vice President Kamala Harris and former President Donald Trump have prioritized those topics as the election draws to a close.
Home-building policy, local zoning restrictions and the use of federal lands don’t usually find their way into the world of flashy presidential campaign politics, but both Vice President Kamala Harris and former President Donald Trump have prioritized those topics as the election draws to a close. That’s because housing has emerged as a top concern for voters. Although recent data has painted a picture of a flourishing US economy, housing affordability remains a weak spot, stressing voters and prompting both candidates to spotlight the issue. “It’s not lost on the campaigns the degree to which people are increasingly concerned about the issue,” said Jim Parrott, a nonresident fellow at the Urban Institute and a former senior advisor at the National Economic Council. “Housing affordability has risen as a source of angst for Americans over the last two years.” Twenty-four percent of likely voters who rent their homes said that “the cost of housing” is the most important economic issue they’re considering as they decide their vote, according to a CNN poll conducted by SSRS between September 19 and 22. That’s no surprise: The US is facing a once-in-a-generation housing affordability crisis. In the four years through August 2024, national home prices have risen 45%, according to the S&P CoreLogic Case-Shiller Home Price Index. According to the National Association of Realtors, the median sales price of a home in the US hit a record high this summer and now hovers just below that level. In swing states, median home sale prices have jumped nearly 40% since 2020, an October Redfin analysis found. That includes Arizona, Nevada, Wisconsin, Michigan, Pennsylvania, Georgia and North Carolina.
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