A recent poll of likely voters in 2012 offers a stern warning to lawmakers who are seeking to dismantle the nation’s long-standing commitment to housing.
Conducted on behalf of the National Association of Home Builders, the survey found that 73 percent of American voters – both owners and renters – believe the federal government should provide tax incentives to promote homeownership. This support for housing runs strong among all party affiliations, with 79 percent of Democrats, 71 percent of Republicans and 68 percent of Independents agreeing with this statement.
The nationwide poll conducted by the Republican and Democratic polling firms of Public Opinion Strategies and Lake Research Partners found a significant disconnect between American voters and Washington policymakers who are considering changes to our national housing policy and programs that could make it tougher for a working American family to own a home.
The polling revealed that more than seven out of 10 voters oppose proposals to eliminate the mortgage interest deduction and 63 percent oppose efforts to reduce it. By a more than two-to-one margin (57 percent to 26 percent), the American electorate said they would be less likely to vote for a candidate who supports eliminating the mortgage interest deduction.
These figures held firm across partisan and regional lines, with a majority of Republicans, Democrats, Independents and tea party supporters saying they would be less likely to support a candidate who favored killing the deduction.
An overwhelming 75 percent of the people who were polled said that owning a home is worth the risk of the fluctuations in the market and respondents added that saving for a downpayment and closing costs is the biggest barrier to homeownership.
When it comes to the public’s attitude toward housing, voters are voicing strong opinions. They believe housing must remain an important part of the American Dream and they support policies to encourage the goal of homeownership and to keep housing affordable.
But is this message falling on deaf ears in Washington?
Proposals to eliminate or reduce the mortgage interest deduction, remove government support for the housing finance system, and tighten lending requirements to the point where millions of credit-worthy buyers would be unable to qualify for a mortgage are now being debated in the Administration and Congress.
The consequences of such a radical policy shift are enormous and would harm working families here and in every community across the land. Millions of first-time home buyers and middle-class households would be left out in the cold with only the faintest hope of ever owning a home.
Despite the ups and downs of the housing market, the survey shows that a whopping 95 percent of American home owners are happy with their decision to own a home and that 73 percent of renters aspire to one day own a home of their own. (For more information on the polling, go to www.nahb.org/voterpoll.)
Clearly, homeownership is a core value for American voters. If Congress fails to heed this lesson, lawmakers could be in for a rude awakening in the 2012 elections.
Concerned citizens can make their voice heard by visiting www.SaveMyMid.com and urging their congressman to support House resolution H.Res.25, which calls on Congress to prevent the mortgage interest deduction from being cut or eliminated.
