Which Political Party is Better for Housing?

Mar 16, 2020 by Aly J. Yale

The majority of Americans don't consider themselves well-studied on the housing or real estate investment markets. As a result, a large chunk aren't quite sure whether President Trump or the soon-to-be Democratic nominee would be best for either industry.

Of those who do have an opinion, though? According to a recent survey by YouGov, Trump wins by a small margin.

About 24% of our respondents think Republican presidents are better for housing, versus 20% in favor of Democrats, and a quarter say the GOP is better for real estate investing, too, versus 16% in favor of Democrats.

The margins are wider when you're talking about the stocks and bonds markets, still favoring Republicans in both cases -- 30% versus 15% and 23% versus 14%, respectively.

Younger Americans, minorities think Democratic presidents are better for housing

It appears Democrats are only the preferred candidate for YouGov's younger respondents and a select number of minorities. Democratic leaders win out in both the housing and real estate investing categories with those 37 and under, and at the generational level, both millennials and Gen Zers (the demographic cohort following millennials) say Democratic presidents are better for housing than Republicans.

With Gen Zers, the difference is stark, too: 26% said Democrats are best for housing, while just 12% said Republicans are. It's a tighter margin at 21% (D) and 18% (R) for millennials.

Millennials also prefer Democratic leaders when talking about the real estate investing market, at 22% versus 18%. Oddly enough, Gen Zers lean toward Republican presidents in this category.

Though opinions don't vary much by region -- Republicans still win out for both housing and real estate investing in all areas -- there are some big differences among racial groups. Black respondents, for example, say Democratic presidents are better for housing by a wide margin, at 38% versus 6%. Hispanic respondents preferred Democrats as well, at 19% versus 13%.

Both groups also preferred Democrats for the real estate investing market, too, though in much smaller numbers.

Single respondents, those making under $40,000, renters, and those living in urban areas were also more likely to lean Democrat when talking real estate investing and housing. Republicans were the preferred leader among most other cohorts -- including those who say they're actually familiar with the housing and investment markets.

The bottom line

This survey didn't reveal any slam-dunk winners. While Republican presidents seem to be viewed as slightly better for housing and real estate investing than Democratic ones, most respondents admitted they weren't too familiar with either market. About half said they weren't in tune with the housing market, while more than a third said the same about investing.

Clearly, both 2020 candidates have an opportunity to make housing a more prominent part of their campaigns going forward.

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