Americans are divided into housing effects of immigration, rates
At the same time, 38.5% of the respondents of the survey expressed the opposite position – that fewer immigrants would lower the demand for housing, making houses more affordable.
The survey conducted by Redfin between 28 March and 28 April – 4,000 homeowners and tenants nationally interviewed.
Political connection has strongly influenced the reactions. About 67.1% of the Democrats agreed that lower immigration levels can lead to fewer houses and higher prices compared to only 38.7% of Republicans.
Respondents were divided in the same way between the role of rates in shaping the housing market.
Almost 68% agreed that rates contribute to the appreciation of the home prize and help keep the interest rates high-up can suppress the activities of housing construction. But about 35% believed that rates could stimulate the economy and help more Americans to pay themselves houses.
Again, reactions were split past festive lines. A majority of Republicans (55.3%) said they believe that rates will strengthen the economy and improve affordability, but only 23.9% of the Democrats said the same.
Redfin has previously reported on how economic uncertainty – including concerns about the rate policy – shape the behavior of consumers.
In April, the company noted that almost one in four Americans had canceled plans to make a large purchase – such as buying a house or a car – because of the newly set rates of President Donald Trump.
The last survey suggests that rates remain a source of fear for many.
About 43.1% of the respondents said that they were very or somewhat worried about the potential impact of rates on their local housing market and real estate values. Only 33.1% said they were hopeful.
In immigration, the figures came to optimism somewhat. About 40.7% of the respondents said they were hopeful about the broader economic effects of reduced immigration or deportations. In the meantime, 26.3% reported to worry.
