The 2012 Presidential Election is approaching quickly. Thanks to a survey conducted by the National Association of Home Builders (NAHB), we know what the current concerns of voters are. There are many concerns, from education, to jobs to eco-friendly topics. But, according to the poll, the number one concern of the American voters is homeownership.
Number 1 Voter Concern: Homeownership
Homeownership is at the top of the list of concerns US voters currently have. Voters are seriously concerned with how hard it is to obtain these days. We still put a high value on homeownership, and truly appreciate the mortgage interest deductions. We would like for the federal government to continue their efforts to help those who can qualify for 30-year mortgages that they can afford.
Home ownership is still considered to be the “American Dream” that we all wish to achieve. Helping us with this accomplishment will help to maintain a flourishing middle class economy. It will also help to get our housing market, as well as our economy as a whole, back on the successful track we’re used to.
The Housing Market Ripple Effect
As we have seen from past experience, the housing market can have a ripple effect. This results in a direct effect on the nation’s economy. The housing market stimulates many other industries, including construction, remodeling, even the retail sales of home improvement and decorating goods. The more we spend, the more jobs there are. More jobs not only means a better economy, but it also means more home buyers.
Here are some of the results of the NAHB survey:
75 percent US voters would like to see more tax incentives for homeowners.
Two-thirds of the voters want the feds make 30-year fixed-rate mortgages more affordable.
73 percent of American voters are opposed to getting rid of the mortgage interest tax deduction.
96 percent of homeowners are more than satisfied with their choice to own vs renting.
Builder Confidence on the Rise Again
Builder confidence began to decrease during the ARMs and other real estate crisis of 2007. According to the poll, this began to change in January, 2012. Builder confidence is currently at its highest levels since the housing crisis began in 2007, for the fourth month in a row.
Now that consumers are showing more interest in home ownership again, builders are preparing for a spike in sales. This means an increase in the demand for new home construction projects. This is sparked by an increase in the sales of single-family homes nationwide. Proof of this can be found in the stats of the Market Index.
Although builders have great reason to begin to feel confident again, there is still some cause for concern. They still worry about potential home buyers being able to qualify for mortgage loans. As of today, the number of applications for mortgage loans have increased for two weeks in a row. This may indicate that buyer confidence is also on the rise, as fears are subsiding in this buyer’s market.
What 2012 Candidates Should Be Concerned With
Now that the 2012 election is getting closer, it only makes sense that candidates would address the issue of home ownership. White House and Congress candidates need to take heed of US voters’ deep need to achieve the American Dream. They need to support legislation that encourages home ownership and oppose policies that make it next to impossible for the middle class. And, more than anything, they need to ensure that mortgage interest rates will not be rising anytime soon.
Looking to buy your first house, your dream house, or scale down for retirement, Lipply Real Estate is well experienced on any front ~ let’s keep the American Dream alive! Give us a call, we are Tampa Realtors here to help. 888-423-5775.