Yahoo Finance Why You May See More Republicans Buying Houses Next Year
The old saw about real estate holds that it’s all about “location, location, location.” In 2017, it might be about party affiliation as well.
Just as the election of Donald Trump has made it harder to predict what will happen next in the job market or on Wall Street, he’s also shaken up the country’s outlook on housing. A survey from real estate website Trulia, taken just after the election, found that Republicans, who had overwhelmingly been pessimistic about the housing market, had turned optimistic. Democrats had done the opposite.
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Before the election, Republicans were more pessimistic when it came to buying a home in 2017, with pessimists outweighing optimists by 9 percentage points. After the election, Republicans were more optimistic by 17 points -- a 26-point swing.
“Clearly Republicans have moved from being bearish on the housing market before the election to outright bullish afterward,” Trulia Chief Economist Ralph McLaughlin wrote in a post about the findings.
By contrast, Democrats were more optimistic about buying a home next year by a margin of 13 points, and after the election that changed to more pessimistic by 10 points. Similar trends appeared when Democrats were asked about other housing actions as well, including selling a house, getting a mortgage and renting.
Separately, the survey found that home ownership remains an important part of the American dream for the majority of Americans (72 percent), but for a smaller share than last year (75percent).
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