I’m an Economist: 5 Types of Cities I Wouldn’t Buy a House in if Trump Is Reelected
America’s 2024 presidential election is about more than ideological issues that capture the headlines. Housing, retirement and jobs and economy are also topics voters are invested in when heading to the polls in November.
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Cheyenne Hunt, a Gen Z economic expert and attorney, said some of former President Trump’s policies could affect the housing market in cities that are “unfriendly” to younger and women voters, as well as voters from traditionally marginalized communities. Some examples include Florida cities like Miami and Jacksonville.
If Trump were reelected, Hunt suggested it “would embolden local lawmakers to continue cracking down in ways that are economically disadvantageous.”
A such, here are some cities to consider not buying a house in if Trump is reelected.
Green Energy Hubs
Trump has championed fossil fuel production, and has been adamant that he would eliminate President Biden’s green and renewable energy initiatives if re-elected. The following cities could lose the most in federal funding, reducing the available money for public services and programs.
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San Diego, California received nearly $1.2 million in June alone to launch home electrification projects in low-to-moderate income households. In addition, the San Diego area is considered one of the top five overrated housing areas in the country because they require a payment-to-income ratio of nearly 74% higher than the national rate of 39.8%.
Houston, Texas obtained more than $2 million from the Biden Administration to install solar panels at a municipal facility in a disadvantaged community, establish a revolving loan fund for municipal sustainability projects, update energy codes, and invest in efforts to increase energy compliance.
Chicago, Illinois was awarded more than $2.2 million for energy efficient projects like public education and outreach to citizens, establishing a fleet of electrification for government vehicles, installing public electric vehicle charging stations, and conducting energy assessments in municipal buildings, among other projects.
Sanctuary Cities
Trump’s comprehensive immigration plan includes withholding federal funding from cities that refuse to cooperate with federal immigration authorities in limiting the number of undocumented immigrants in the United States. He could be likely to do so during a second term.
Philadelphia, Pennsylvania declared itself a “sanctuary city” for undocumented immigrants in 2016 and said the city had the largest number of them in the Northeast. Former president Trump withheld millions of dollars from the “City of Brotherly Love.” The U.S. Justice Department overturned the decision in 2021. But that policy decision could change under a Trump administration.
New York, New York led six states in suing the Trump Administration for a total of $250 million the federal government withheld in a crackdown on illegal immigration. The Trump Administration could reinstate federal withholding if he’s reelected. NYC also received more than $5.88 billion in direct aid to cope with COVID under Biden-era initiatives which could be eradicated if Trump is reelected.
Limited Spending
Former President Trump consistently criticized “wasteful” government spending. For example, he could redirect the Biden-era “American Rescue Plan Act” (ARPA) to projects more aligned with his administration’s priorities.
“We haven’t seen Republicans invest in affordable housing over the past four or five years,” Hunt said. “A continued refusal to invest in affordable housing will also affect trends.”
Los Angeles, California was allocated $1.28 billion from the federal government that was used for public health initiatives, economic recovery, and small business support.
San Francisco, California received about $624 million through ARPA funds for public health initiatives, economic support for local businesses, and housing projects. The city has also been resistant to President Trump’s social and economic policies.
Ideological Battlegrounds
Trump has supported certain policies that have curbed teachers and students from discussing gender identity and sexual orientation, as well as the U.S. Supreme Court’s decision to overturn Roe v. Wade, governing access to abortion, which has in turn affected some consumers’ housing decisions, Hunt suggested.
“We’re seeing flight and a mass exodus of teachers in states like Florida due to the ‘Don’t Say Gay’ and other economic policies that are unfriendly to women and oppressed minorities,” Hunt said. “One multinational client in Houston pulled out of [the city].”
Wildcard
Detroit, Michigan is a wildcard. Former President Trump promised to revive the city’s flailing automotive industry by using trade tariffs to implement 100% tariffs on Chinese vehicles. However, any policies that don’t boost manufacturing overall could further impact the city’s growth.
Editor’s note on election coverage: GOBankingRates is nonpartisan and strives to cover all aspects of the economy objectively and present balanced reports on politically focused finance stories. You can find more coverage of this topic on GOBankingRates.com.
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This article originally appeared on GOBankingRates.com: I’m an Economist: 5 Types of Cities I Wouldn’t Buy a House in if Trump Is Reelected
