That impact Biden and Trump had on home prices

TheStreet’s Conway Gittens brings you the biggest news of the day, including what investors are watching and how BYD bested Tesla for the first time.

Transcript

00:00I'm Conway Gittens, reporting from the New York Stock Exchange. Here's what we're watching

00:03on the street today. Markets ended a dark week with a note of optimism. Amazon gave

00:09investors what they wanted with better-than-expected third-quarter results. It was a different

00:14story for Apple. iPhone sales were the best ever for a September quarter, but revenue

00:19from its services business was disappointing. Looking now at the intersection of money and

00:25politics, if you bought a home during the Biden years, you're better off than those

00:29who bought in the Trump years. Under Biden's watch, median home values jumped by more than

00:35$106,000 from 2020 to 2024, compared to the more than $72,000 gain when Trump was in the

00:44White House from 2016 to 2020. According to data by the National Association of Realtors

00:50and analyzed by USA Today, the growth in home equity is more stark for those who live in

00:56many of the so-called political swing states. Home ownership wealth in Arizona, North Carolina,

01:02Nevada, Georgia and Wisconsin all exceeded the national median during Biden's presidency.

01:09The biggest spike in home equity came in North Carolina. Housing wealth grew in that state

01:14by 60 percent, nearly double the 34 percent median gain across the country. Meanwhile,

01:21the median national home price hit $416,700 in August. Two swing states, Arizona and

01:28Nevada, topped that. Arizona came in at just under $449,000, while Nevada came in at $447,000.

01:37Talking home prices around the election can be a two-edged sword, according to economists

01:42and political experts. Americans who don't own a home are likely to view home price gains

01:48soberly and tend to lean toward a change in the White House. On the other hand, homeowners

01:55are likely to feel more financially secure and tend to vote for the party in power.

02:01That'll do it for your daily briefing from the New York Stock Exchange. I'm Conway Gittins

02:04with The Street.