Friday, 4 November 2016

Wonkbook: Trump succeeds in neighborhoods burdened by heavy mortgages, report says

By Max Ehrenfreund An updated analysis from Gallup this week has revealed another factor that could be behind Republican presidential nominee Donald Trump's popularity: expensive mortgage-interest payments. According to the analysis, respondents in hundreds of surveys were more likely to view Trump favorably if they lived in Zip codes with heavy mortgage-interest burdens relative to local incomes, after taking into account a range …
 
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A campaign sign for Donald Trump and Mike Pence stands outside a home in Princeton, Ill. on Oct. 26. Photographer: Daniel Acker/Bloomberg

A campaign sign for Donald Trump and Mike Pence stands outside a home in Princeton, Ill. on Oct. 26. Photographer: Daniel Acker/Bloomberg

By Max Ehrenfreund

An updated analysis from Gallup this week has revealed another factor that could be behind Republican presidential nominee Donald Trump's popularity: expensive mortgage-interest payments.

According to the analysis, respondents in hundreds of surveys were more likely to view Trump favorably if they lived in Zip codes with heavy mortgage-interest burdens relative to local incomes, after taking into account a range of socioeconomic factors.

"The increasing unaffordability of housing is a major macroeconomic problem in the United States," said Gallup economist Jonathan Rothwell. "The sort of long-term financial stress wrought through housing, and the way it plays out in people's lives, could translate into political frustration with the status quo."

The respondents also were more likely to view Trump favorably if they lived in Zip codes where more of their neighbors received the Earned Income Tax Credit, which the government pays to low-wage workers, or where a greater share of income came in the form of checks from Social Security for the elderly or disabled.

By contrast, those who lived in Zip codes where more income came from stocks and other investments — markers of affluence — were less favorably disposed toward the New York businessman.

Read the rest on Wonkblog.


 

Number of the day

161,000.

That is the number of positions that employers added to payrolls in October, according to the monthly survey from the Bureau of Labor Statistics. Ana Swanson has more.

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