Housing to Be Key Factor in 2012 Election

 A consumer website for the National Association of Realtors® has released the results from their latest survey. They found that when it comes to the upcoming 2012 election, jobs and housing are at the forefront of voters' minds.

The research indicates that almost one-third of those surveyed reveal housing is the top issue. It's no wonder why. Homeowners across the country are currently in foreclosure or are at risk of entering this state. Many others have experienced a dramatic loss of equity in their homes as prices shrank back to 2003 levels.

One of the biggest issues is the large number of homeowners who are now upside down in their mortgages, meaning they owe more to the bank than their home is currently worth. What should be one of their biggest assets is now one of their biggest liabilities. Many don't have the option to sell or move if the need arises.  Many homeowners may have to forgo a move in order to keep good credit and a roof over their heads.

 NAR reports that housing makes up more than 15 percent of the GDP (gross domestic product). Research has shown it is a "key driver of the national economy." It works like a snowball effect. A healthy and progressing housing market means jobs. NAR estimates for every 2 homes sold, one job is created. Homeowners also invigorate the economy in other sectors, such as retail, through decorating and upgrades. 

Respondents were asked in a survey: "What issue area will have the greatest impact on your vote in 2012?" National security, healthcare, and energy/environment trailed housing and unemployment by wide margins:

1. Jobs/unemployment – 54 percent
2. Housing – 27 percent
3. National security – 8 percent
4. Healthcare – 4 percent
5. Energy/Environment – 2 percent
6. Other – 4 percent

NAR's other recent stats indicate the economy may be attempting a rebound. Pending home sales rose in October and unemployment rates dropped slightly for the month. Next year's voters will have a lot to say about candidate's plans for overhauling current programs, as well as plans for helping housing get back on its feet.

The Market is looking a lot better than it was a year ago. We are heading in the right direction..