When it comes to real estate in America Joe Biden and Donald Trump have a different vision for our future. It is one of the starkest choices that will be decided by this election. And it’s one that has a direct effect on average people – unlike a lot of pie in the sky things they talk about. And it’s one we want to take a bit of time to look into.
Here’s a summary of the situation.
If elected Joe Biden wants to be able to use HUD money to build affordable housing near the suburbs. He argues that by making homes people can afford to live in that this will reduce crime, restore hope to poorer communities and help bring back the America we knew in the 1950s. It is a grand vision of expanded housing for people to give them the breath they need to realize their dreams. The addition of more housing would also cause rents overall to drop and bring back a sense of working for yourself rather than working for your landlord.
Trump has exactly the opposite vision.
He wants to completely shut down the spread of affordable housing. He feels that if people work hard enough, they can afford normal priced housing and he points to the suburbs existence as his proof. He also says that affordable housing near the suburbs will spread crime from the cities into our beautiful neighborhoods. He tells parents to worry about the welfare of their children and who might come into their lives if poorer people lived near them. And then he caps it off by saying that the introduction of low income housing into middle and high income areas will lower the property values of everyone who lives there.
We at PropertyRecord.com have looked into this because we honestly care about property values. We want people to get the most value for their money and to live in nice safe neighborhoods. So, we examined the trends over the years with an eye to what happened to property values after low income housing was introduced into a neighborhood.
What we found may surprise you.
Property values were either unaffected or actually went up after low income housing was built. This is because the one indicator of home value that has the strongest effect isn’t how much other people pay for their property. It’s how good the school system is. And that’s something that low income housing has no effect on at all. Good schools are manned by good people and turn out good results. That’s the final word.
In addition, good schools helped the people in low income housing learn skills that kept them away from crime – so crime statistics didn’t go up much either. In effect the addition of low income housing had no effect on property values at all.
That means there is one less thing for you to worry about on Election Day. Your property values are not going to go down if Biden gets elected. Instead they will stay the same as they ever had and might even go up.
Low income housing has no effect on it at all.