Survey: Housing Affordability Is Gen Z’s Top Voting Issue

According to a recent survey, a large chunk of Gen-Z voters are concerned about housing affordability heading into the General Election.

Just over 90% of those ages 18-27 say housing affordability is what's most important to them come November when they'll be casting their vote in the presidential election.

Economist Vance Ginn, Ph.D., told KTRH Wednesday that that number comes as no surprise to him.

"We've seen this across the country, whether it be in Texas, California or New York," he said. "After covid, we had a situation in the housing market that contributed to housing prices."

Ginn said there are multiple contributing factors that go into Gen Z folks feeling the way they do about the housing market.

During the time of covid a few years ago, Ginn said there were not as many houses being built and more people were hesitant to move. Demand rose and supply couldn't keep up.

Interest rates have also gone up significantly. Inflation has put a damper in purchasing power for individuals, especially for young people, too.

"All of thEse things have combined to make it very costly to get a house, to rent, just to have housing affordability in general," said Ginn.

Ginn expects housing affordability to be a lingering issue for "a while."

"Given that inflation remains pretty heated, we're likely to see interest rates remain higher for longer which will contribute to making it more costly to get a home and a mortgage and pay for that on a monthly basis."

There's also an issue in the housing market with people not selling their homes. According to Ginn, people aren't wanting to sell their home and get rid of their lower interest rate in order to downsize.

The other four of the top five concerns for Gen Zers expecting to vote later this year are strength of the overall economy (82%), education (82%), gun rights (75%) and abortion rights (75%).