Opinion - Young Americans call for solutions to the affordability crisis

The dream of financial stability is increasingly out of reach for young Americans, who are grappling with soaring expenses for essentials like housing and groceries. A recent survey conducted by Rasmussen Reports and the Heartland Institute highlights that many young voters are feeling a genuine financial strain, prompting them to consider proposals from political figures like New York City mayor-elect Zohran Mamdani.

The poll surveyed 1,496 likely voters aged 18 to 39 from across the United States, uncovering striking insights about the priorities of young Americans. A key finding is that 74 percent of respondents believe housing costs have escalated to a crisis level. This concern is widespread, affecting not only urban residents but also those in suburban and rural areas. Young people from diverse backgroundsincluding high earners, graduate degree holders, and self-identified conservativesshare this sentiment.

For renters, the statistics are particularly sobering. According to the U.S. Census Bureau, over 21 million renter households in 2023 spent more than 30 percent of their income on housing, nearly half of all renter households nationwide. Homeowners face similar pressures due to rising property taxes, insurance, and other hidden expenses.

Recognizing a societal problem is the first step toward solving it. Dismissing the real struggles of Americans, as some officials did during the inflation spike in 2021, only fuels frustration and mistrust. Mamdani focused his campaign on affordability, emphasizing efforts to lower living costs in New York City. However, his proposed measures, such as rent freezes and expanding government housing, may exacerbate the issue in the long run.

The survey reveals that these proposals have strong appeal among young voters: over half support a nationwide rent freeze and expanded government housing, including 56 percent of self-identified conservatives. While these ideas may sound attractive on the surface, they reflect a simplistic approach rather than sustainable solutions.

Market-driven policies could more effectively address the housing affordability crisis. Reforms could include revising zoning and environmental regulations, streamlining permitting processes, and reducing property taxes. Implementing such measures at local, state, and federal levels could provide meaningful relief.

Looking ahead to the 2028 election, the survey shows that young voters are pragmatic. While 51 percent expressed interest in a democratic socialist candidate, 42 percent of Democrats and 45 percent of Republicans indicated they would support candidates from the opposite party if they offered the most effective plan to reduce housing costs. This demonstrates that many young Americans prioritize practical solutions over strict ideological allegiance.

Ultimately, there is hope that young voters will choose policies that genuinely tackle the affordability crisis rather than defaulting to populist promises. A significant portion of the generation remains open to evaluating candidates based on the effectiveness of their proposals, signaling that informed, market-based solutions can still win support.

Author: Ethan Caldwell