(Bloomberg) -- Kamala Harris’s promise to take action on housing costs addresses a burden depressing enthusiasm for the presidential campaign among core...
-- Kamala Harris ’s promise to take action on housing costs addresses a burden depressing enthusiasm for the presidential campaign among core Democratic constituencies such as the young, racial minorities and lower-income voters.
The sense that owning a home is becoming unattainable is especially fraught because that life step is so closely tied to notions of the American dream, building wealth and starting a family. It has become an increasingly pressing concern as housing costs skyrocketed and inflation ate away at disposable income.
“They have just at least an opportunity to learn about it a little bit better,” said Diehn, an independent who said he voted for Trump in 2016 and Biden in 2020 but wasn’t enthusiastic about either man this year.But support for Democrats among renters has eroded as the US median asking rent jumped 47% since 2019 as of the second quarter, according to the Census Bureau.
“I have to rent because I can’t buy a house,” Montgomery said. Anything affordable in a safe neighborhood is “so battered and broken that it’s not worth it to try to salvage.” Renters are typically harder to motivate to vote. In the last presidential election, turnout among renters lagged homeowners by 16 percentage points and by 18 percentage points in the 2016 election, according to the Census Bureau.
Joe Biden Donald Trump Presidential Campaign Presidential Election Bloomberg Disposable Income Housing Costs Housing Affordability Housing Units
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