Transcript:
Conway Gittens: I’m Conway Gittens reporting from the New York Stock Exchange. Here’s what we’re watching on TheStreet today.
Markets ended a dark week with a note of optimism. Amazon gave investors what they wanted with better-than-expected third-quarter results. It was a different story for Apple. iPhone sales were the best ever for a September quarter but revenue from its services business was disappointing.
Related: Housing affordability may see major changes in 2025
Looking at the intersection of money and politics, if you bought a home during the Biden years you’re better off than those who bought in the Trump years.
Under Biden’s watch, median home values jumped by more than $106,000 from 2020-2024, compared to the more than $72,000 gain when Trump was in the White House from 2016-2020.
According to data by the National Association of Realtors and analyzed by USA Today, the growth in home equity is more stark for those who live in many of the so-called political swing states. Homeownership wealth in Arizona, North Carolina, Nevada, Georgia, and Wisconsin all exceeded the national median during Biden’s presidency. The biggest spike in home equity came in North Carolina. Housing wealth grew in that state by 60 percent, nearly double the 34 percent median gain across the country.
Meanwhile, the median national home price hit $416,700 in August, two swing states: Arizona and Nevada - topped that. Arizona came in at just under $449,000, while Nevada came in at $447,000.
Talking home prices around the election can be a two-edged sword, according to economists and political experts. Americans who don’t own a home are likely to view home price gains soberly, and tend to lean toward a change in the White House. On the other hand, homeowners are likely to feel more financially secure, and tend to vote for the party in power.
That’ll do it for your Daily Briefing. From the New York Stock Exchange, I’m Conway Gittens with TheStreet.
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