Government Lending

Support for affordable housing policies growing

Housing affordability is a struggle across the board

As home values become more unattainable, more homebuyers say they are willing to support policies that impact affordable housing.

Redfin surveyed more than 3,000 U.S. residents who bought or sold a primary residence in the last year or plan to in the next year. The survey found that people are nearly twice as likely to support policies designed to keep homes affordable compared to policies that would strengthen home values.

In fact, 34% of those surveyed said they support policies designed to keep homes more affordable, while 19% said they prefer policies meant to strengthen home values.

Meanwhile, more than a third of respondents actually supported both types of policies.

Almost half of those who responded said that rising home prices over the last decade have made their life worse. Conversely, 16% said rising home prices made their lives better.

Last month, a study from the National Association of Home Builders said that 55% of home shoppers found the experience unsuccessful, and couldn’t find a home in their price range.

Beyond that, a study from Freedom Debt Relief said that a quarter of homeowners wish they were renting instead of owning.

As for how housing could be made more affordable, nearly two-thirds of those surveyed said that the government should provide down payment assistance to working-class families with buying their first home.

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