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Divided We Stand

Divided We Stand
New book about the 2020 election.

Sunday, June 16, 2024

Housing Costs in 2024

Our most recent book is titled Divided We Stand: The 2020 Elections and American Politics.  Among other things, it discusses the politics of economic policy

Peder Schaefer at Politico:
By nearly every metric, it’s never been more expensive to buy a home in America.

The average sale price for a home in 2024 is a record high $513,100, the average 30-year fixed rate mortgage is near 7 percent and the ratio of the median single-family home sale price to household income — a good proxy for tracking nationwide home affordability — is 7.68 to 1, an all-time record.

Naturally, housing concerns loom large in the race for the White House: An April Michigan Ross/Financial Times poll showed that 27 percent of Americans assess housing costs as one of their top three economic issues as they make their vote for president, ranking higher than government spending, the national debt, wages or even interest rates.

Younger voters are especially energized around housing issues, the poll showed, with 31 percent of all voters 18-44 marking it as a top economic issue, tied with gas prices and wages.