In the midst of the housing crisis residents are experiencing across the United States, homebuyers are experiencing sticker shock as home prices become more unattainable. As prices rise, more people are willing to support policies that affect affordable housing.
According to a Redfin survey of 3,000 U.S. residents who bought or sold their primary residence over the last year or who plan to in the next year, people are nearly twice as likely to support policies designed to keep homes affordable compared to policies that would increase home values. The data shows that 34 percent support affordable housing policies while only 19 percent want to see increased home values. On top of that, over 50 percent of respondents said that rising home prices over the last 10 years have made their live worse.
According to the National Association of Home Builders, 55 percent of homebuyers quit searching for a home after unsuccessfully looking for houses in their price range in the 2nd quarter of 2019.
When respondents were asked how homes could be made more affordable, nearly 75 percent said the government should provide down payment assistance to working-class families.