A recent survey by Houselogic.com, the consumer website from the National Association of REALTORS®, finds that jobs and the housing market will be two of the most important issues for voters in the 2012 election. Nearly one-third of respondents said housing will be the top issue on their mind when they head to the polls next November.
Respondents were asked “What issue area will have the greatest impact on your vote in 2012?” National security, health care, and energy/environment trailed housing and unemployment by wide margins. Here are the results:
Jobs/Unemployment – 54 percent
Housing – 27 percent
National Security – 8 percent
Health Care – 4 percent
Energy/Environment – 2 percent
Other – 4 percent
With unemployment still high, it is easy to see why so many Americans are concerned about the job market. However, employment and the housing market are inextricably linked because economic growth and job creation cannot occur without a housing recovery.
Housing accounts for more than 15 percent of the U.S. Gross Domestic Product, a key driver of the national economy. Home sales generate jobs. NAR estimates that for every two homes sold, one job is created. New spending on homebuilding products, furniture, and other residential investments also have a significant economic impact.
Some recent indicators show that the economy might be starting to rebound, with pending home sales rising strongly in October, according to NAR’s Pending Home Sales Index. However, any changes to current programs or incentives must not jeopardize a housing and economic recovery. Unemployment, consumer confidence and consumer spending will not rebound until a number of issues are addressed.
This HouseLogic survey shows Americans understand that a housing recovery is essential to the nation’s economic recovery, and many of those housing-related issues will be on the minds of voters in 2012.
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