Home prices have increased at a slightly higher rate during years when Republicans were in office
A familiar pattern has established itself over the last 50 years: Newly elected presidents experience the ramifications of the previous regime’s housing and economic policies.
HomeUnion reports that home prices have increased an average of 4.5 percent during years when a Republican was president. Prices rose 3.8 percent during Democratic presidencies.
That doesn’t tell the whole story, though. As the site explains, presidents from both parties oversaw housing market swings and enacted different economic policies. The effects of those actions impacted subsequent presidencies. For instance, Bill Clinton’s repeal of Glass-Steagall legislation fueled the housing boom and bust, which George W. Bush took credit and blame for.
With unfavorability ratings above 50 percent for both candidates, this election has many voters feeling like they’re in a no-win situation. In fact, a recession in a few years, downward pressure on home prices in some areas, and rising borrowing costs could make the party that loses this election the real winner. They may be able to nominate a more desirable candidate to run against an aging president grappling with an economic downturn.