DhimmocRats Create High Housing Prices?
maybe
In Friday’s Best of the Web James Tarranto notes discussion among some on the left about the correlation between Blue States/areas and rising home values. He quotes Mickey Kause who asks the musical question; “Do Democrats produce rising home values or do rising home values make people Democrats? [that last seems implausible]” Got that right, Mickey—but the first may have a ring of truth.
Tarranto offers three theories of his own on the matter: Democrats’ support of regulations that suppress new construction, limit the supply thus driving up the price. Democrats tend to live in older cities where geography limits growth/sprawl, limiting supply which drives up prices. Low housing prices attract Republicans, particularly the new Republican base of young families.
I have another theory to throw into the pot of speculation, based on personal observation. Democrats are willing to spend an inordinate amount on housing, and other consumer durables [and flushables]. People are moving into this area in droves, about one and a half to two and a half hours driving away from a major metro area. Their choices here are between older, post WWII homes in settled neighborhoods in town [2 bed/1 bath - 3 bed/2 bath] for about $500,000. Or they can get one of those brand new slapped-together McMansions with a great room, 2 car garage, 4 beds/office/3 baths, spiffy kitchen/family room, no trees and all the same color and floor plan for about the same amount.
They also seem more than willing to spend on a couple of new cars and piles of other goodies to fill up those houses thus putting themselves in hock until 2050. Over half a million dollars in debt at age thirty-something—that’d give me hives for sure. And this area is definitely Blue as Blue can be…
Seems philosophical outlook to Life effects both political choices and financial decisions.
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