Overhead and ballot box
Housing is one of the most important economic crises in various countries, but the serious fact is that the growth of housing prices and rents in some industrialized countries in the post-coronavirus era has been the main driver of inflation rates. Canada has faced a housing price crisis next to the United States, and some have attributed the growth in immigration as one of the reasons, which may not be a significant reason. In Britain, if the staggering price of housing in London was always a part of London life, it has turned into a reality for British life in the past two to three years. It should be noted from the outset that the increase in interest rates is ultimately influential. High interest rates raise mortgage rates and, on the other hand, make money more expensive, meaning it becomes harder for construction companies to obtain new facilities for project development.
In these circumstances, the housing price, as the main factor, increases other prices in a stair-step or snowball effect that gradually reduces inflation. However, housing prices in the US and several other countries remain high. Given the investment value of housing, it is unlikely that a significant decrease in housing prices can be considered beneficial. Yes, you read it correctly. A significant decrease in housing prices negatively affects a segment of society that has invested in this sector. Apparently, there is no way out for this dilemma, but the current situation in the US shows that there are solutions. The high housing prices are not solely rooted in the aforementioned reasons. Large investment companies in the US have invested in the rental sector, acquiring numerous residential complexes and engineering rental prices based on their interests. This particular point is not the main cause of high rent prices, but it has been very influential. In this year’s competition, Harris plans to confront these companies and programs by integrating and merging companies to create monopolistic investment blocks in the housing sector. She has also promised to provide high credit for first-time homebuyers. Furthermore, she is one of the first candidates to promise extensive housing construction in a British and European style, presenting a plan to build three million homes in her first term. It is important to note here that advisors from the British Labour Party, who have recently won elections in the country, are collaborating with the Democrats’ campaign in the US, and the impacts of this collaboration are becoming evident.
The trend of changes in the American lifestyle has been significantly impacted by the increase in housing prices. Many families have been affected, losing the opportunity to own a home due to rising prices and expensive mortgage loans in recent years. The decrease in mortgage interest rates in the past year is still not enough to compensate for many missed opportunities. These are not points that a significant portion of American society can easily forget, and the efforts of the Biden administration in this regard have not been well perceived or interacted with citizens so they understand that the government is not to blame. Harris and her campaign have seen significant damage in public perception on this issue and will continue to do so without being at fault. A key point in the American electoral process is the polarized state of governance in this country. One issue and one specific promise can hardly have a positive impact on voters. Voters who have specific cultural and racial reasons for their choices strengthen their negative opinions with any negative movement. It should also be emphasized that the impact of destructive events influences the voter’s opinion faster and more strongly. Destruction is easier than construction, and putting brick on brick is not attractive to voters.
