Bloomberg poll favors Harris on housing costs, Trump on investors and crypto

Vice President Kamala Harris is the president-elect when it comes to the US housing shortage, while former President Donald Trump appears more favorable to stock market and cryptocurrency investors. This is according to the results of a recent study conducted by Bloomberg.

Less than a week from Election Day, the presidential race remains too close to call. But if the economy continues to be the “north star” for voters, focusing on economic views shows some differences in their views.

“The stock market, which is up about 22% so far in 2024, is more likely to take a breather under Trump than Harris,” Bloomberg said. “38% of 350 respondents to a Bloomberg Markets Live Pulse poll see faster gains from now under a Republican candidate, compared to 13% under a Democrat.”

There is a caveat. If Harris wins, nearly half of respondents expect the market to maintain its positive momentum over the period. But nearly 60% of respondents think Trump’s victory will also continue at that pace.

But the market for potential homebuyers will be more profitable under a Harris presidency, according to respondents.

“The average rating of [a 30-year, fixed loan] the rate at the end of Harris’ name will be 5.5%, according to poll participants, and 5.9% under Trump,” the story explains.

According to the data at HousingWire‘s Mortgage Center on Wednesday, the 30-year rate stood at 6.75%, entering its highest level since August.

“Many potential buyers have been on the sidelines in recent years waiting for borrowing costs to drop,” Bloomberg said in the survey results. “Sellers with mortgages at 3% or less, at the moment, have been reluctant to move and take on more expensive loans,” he explained as a result of the mortgage rate cap.

Harris and Trump made their closing statements in the final days of the election cycle. The past few days have been marred by controversy, with the Trump campaign indirectly backtracking on comments about Puerto Rico made at a recent New York City rally, and Harris distancing himself from President Joe Biden’s comments about Trump supporters.

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