Democratic-leaning markets have lower affordability, greater income inequality

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October 28, 2014

Trulia Chief Economist Jed Kolko reports that though the housing crisis and recovery affected red and blue markets similarly, today’s pressing housing issues are more severe in blue markets.
These issues include expensive home prices, low homeownership rates, and a bigger income gap between the rich and the poor. Trulia’s data show that none of the reddest markets (including Knoxville, Tenn., Tulsa, Okla., and Greenville, S.C.) had a median asking price per square foot above $130 in Sept. 2014. , whereas dark-blue markets have housing cost double the amount of that in red markets.
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