US housing market heats up ahead of election but not all feel the glow | Malay Mail

Friday, 23 Oct 2020 11:37 PM MYT

But as with so much else going on in the recovery, the benefits are far from evenly distributed — and sentiment heading into the election will vary based on how individual voters are faring, offering no clear lift to the incumbent Republican over his Democratic challenger, Joe Biden. “I don’t think there’s any question that we’ve seen significant improvement,” said Jim Baird, chief investment officer for Plante Moran Financial Advisors.

But the gains in home sales were concentrated in the higher end of the market, which is fine for people with stable jobs who have been able to snag houses, but first-time buyers or those looking for affordable homes may be priced out of the market. That outsized gains for pricier homes is another sign the crisis is falling harder on lower-income households, Baird said.

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