Wednesday, December 06, 2023

Stable housing could provide a public that is more optimistic about the American economy.

With the US economy seeming to do well, many economists are scratching their heads as to why many people say we are in bad economic times and Biden's popularity is soft.

It might make a big difference if one has affordable housing or not. Many economists might be long term homeowners who have been somewhat sheltered from the spiraling cost of renting, or first time home purchase. This could skew their perception. The high cost leaves less money for other things like food which has also gone up in cost, but still not as much as housing. Maybe this situation is under the radar for most economists.

I heard some on NPR discussing this very situation today.

Where someone is in their lifespan can make a difference. Younger people often struggle more trying to rent or pay newer mortgages. This could mean that the voting trends, among younger people, are less predictable.

The millennial generation now struggling with young families and the cost of establishing a home, plus having to make payments on student debt again after pandemic relief may not be able to be counted on for Biden. Of course Trump is worse, but voter apathy sometimes determines an election.

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