Want affordable housing
I let other pundits speculate about the political motivations that ran inside but real estate numbers say the voters that made Donald Trump president elect enjoy comparatively affordable housing.
My trusty spreadsheet tells me the financial pain of putting a roof over one head is decidedly lower in the 30 states that went for Trump compared to where Hillary Clinton won.
Trump support was concentrated in Midwestern and Southern states where housing has long been more affordable. But Californians should take serious note of this trend, and not simply for relocation ideas.
These housing/voting patterns suggests to me there little hope for any major housing affordability efforts out of the new administration. Not that real estate issues were much of a campaign topic.
Look, voters in already have housing affordability. And Republican Trump, who highly values loyalty, might not go out of his way cheap jerseys to help the high cost states where Democrat Hillary Clinton won.
That isn insignificant. Real estate recovery, housing in particular, has benefited from plenty of federal help from loan repairs for troubled borrowers to cheap homes loans to government mortgage buying to continued tax breaks. Dept. of Housing and Urban Development and the National Low Income Housing Coalition tallied up the cost of shelter in the states Trump won vs. Clinton country.
Owning looks like a bargain in Trumpland.
Trulia average listing price in early November in the states Trump won was $236,177 ranging from $403,333 in Utah to $168,876 in West Virginia. Meanwhile in states Clinton won, prices averaged $410,572 from a high of $980,731 in Hawaii to $241,779 in New Mexico. (California was $630,218.)
Translation? Homes for sales in Trumpland run 42 percent cheaper.
Yes, Clinton states pay better. But. (California? $72,682.)
Comparatively, pay in Trump states ran $62,773 ranging from $86,917 in Alaska to $49,227 in Mississippi.
Yes, that 22 percent more in blue states. However, there the that pay hike doesn make up for housing higher price tag.
With that kind of cost advantage, is it any surprise more folks own in Trumpland?
Census data shows home ownership rates in states that went red averaged 67 percent in the third quarter ranging from 75 percent in West Virginia to 61 percent in North Dakota. (California? 54 percent.)
Can buy? Being a tenant is cheaper, too, in Trumpland.
The average monthly rent for two bedroom units last year in states the Republican won was $807 ranging from $1,209 in Alaska to $685 in West Virginia.
Compare that to states that went to the Democrat where rents average $1,195 ranging from Hawaii $1,780 at the top to $835 in New Mexico. (California? $1,487.)
So Trump apartment dwellers typically http://www.cheapjerseys11.com/ save 32 percent.
Bottom line is that housing costs hurt more in Clinton states.
My rough estimate of housing slice of your pay combining owning and renting costs plus ownership rates showed blue state households paying an average of 26 percent of their income for shelter. That ran from 51 percent in Hawaii to 18 percent in Minnesota. (California? 38 percent.)
That real money. My guess is that savings on housing in Trumpland average about $7,500 a year. And remember in politics, it the economy, stupid.