Housing is an important topic for presidential candidates to be discussing. It is directly related to some of the biggest issues our nation currently faces. So far, however, it has been surprisingly absent from the presidential debates. Economist Johnathan Smoke offered his critique on this recently and said he hopes this will change after the New Hampshire Housing Summit this Friday where many republican candidates will be in attendance.
Housing is a very important part of our gross domestic product and has the potential to create for us a stronger economy. It affects income inequality by widening the gap in terms of people who can afford homes. When home prices are high it becomes increasingly difficult for the middle class to own and produce wealth. “Everything else, including retirement plans, pales in comparison to the wealth produced from owning,” argues Smoke stating, “homeownership should be championed and supported,” to directly address the issue of income inequality. Another topic being widely discussed by candidates is immigration and Smoke says that this is directly related to housing as well stating that a smart approach to immigration could solve a labor shortage in fields like construction. A field that was traditionally filled by immigrants in our country and will be needed when the demand for housing increases.
We will be eagerly waiting to see if the candidates choose to address this issue in the future and acknowledge its relevance to the issues facing our country.