News · CNBC

Midterm elections: How affordability and the economy could impact voters

With the Nov. 3 midterm elections less than a week away, the article says affordability, including housing, groceries and gas, is emerging as a key issue for voters, with 66% of U.S. adults very concerned about housing costs, according to Pew. The median existing-home price was $417,500 in September, up 1.3% from a year earlier and nearly 54% above September 2019, while in 2024 22.7 million renter households (49%) spent more than 30% of their income on rent and utilities. The bipartisan 21st Century ROAD to Housing Act became law without President Trump's signature, and an MIT analysis cited in the article expects only modest short-run effects. Tax changes under the One Big Beautiful Bill Act remain a recurring campaign topic, with the average tax refund at $3,276 as of May 8, up from $2,939 in 2025, yet fewer than 10% of Americans rank taxes as the single most important election issue.

Summary written by Upside AI from the original article. Read the source for full details.

Read the original on CNBC ↗

Keywords

midterm electionshousingtaxescost of living

Open a keyword to see other news on the same topic.

Related news

  • The 5 big voting issues in the midterm elections that will impact your walletMarketWatch·midterm electionscost of livingtaxes
  • Georgia swing voters in Milledgeville weigh 2026 election

    In Milledgeville, Georgia, voters in Baldwin County say the local economy has shifted, citing the loss of major employers including Central State Hospital, Reed Manufacturing and Mohawk. The county was one of only a few in Georgia to vote for Joe Biden in 2020 and Donald Trump in 2024. Voters point to rising property taxes, high diesel prices that have left some truckers idle, and affordability concerns as top issues. Political analyst Cory Ruth says these issues cut across party lines and warns that recent midterm polling has missed rural and working-class voters, so Georgia is not a sure bet for either party.

    kval.com·midterm electionscost of livingfuel prices
  • Taxes and affordability top issues for voters , candidatesthespec.com·taxesmidterm electionscost of living
  • Voters seize the say in key state battles for housing affordability

    Voters in California, Florida and Massachusetts will decide on Nov. 3 measures on zoning, permitting and property taxes tied to housing affordability. In Massachusetts, Question 7 would cap minimum lot sizes at 5,000 square feet and needs more than a simple majority, with Yes votes equal to at least 30% of all ballots cast; supporters have raised more than $1.7 million. Florida requires 60% approval, and Amendment 3 would raise the homestead exemption to $250,000 in 2028, but a University of North Florida poll in July found support falling from 61% to 45% once voters learned the budget impact. In California, Proposition 45 would set deadlines for CEQA environmental reviews and court challenges, but California YIMBY has taken no position.

    housingwire.com·housingmidterm electionscost of living
  • U . S . Senate candidate Peltola calls the economy the only plot line that matters

    Former U.S. Rep. Mary Peltola, a Democrat, has made the economy her top priority in her close race against Republican Sen. Dan Sullivan in Alaska, where spending has topped $100 million. She says rising prices for fuel, food, health insurance, utilities and rent are voters' main concern, and has said the Iran war should not progress in order to ease energy costs. Her proposals include eliminating income taxes for Americans earning less than $92,000 a year by raising taxes on the ultra-wealthy, increasing the Child Tax Credit and making Social Security solvent. Economists say Alaskans are feeling squeezed by record-high diesel and heating fuel prices, and Peltola cited a Selawik household with a $1,500 electric bill. Sullivan, who has backed the president's policies and argues he has cut taxes and expanded oil drilling, has an estimated net worth of $8.2 million, partly from holdings in RPM International.

    adn.com·midterm electionstaxesfuel prices
  • In the weave: A legislative agenda for Trump’s final years – Oneida Dispatch

    In his midterm campaign, President Donald Trump has laid out a legislative agenda for his final two years, much of which would likely face opposition if Democrats win control of one or both chambers. He has urged Senate Majority Leader John Thune to bring the SAVE America Act on elections to the floor and promised that a Republican-run Congress would send $5,000 payments to U.S. adult citizens, with $1 trillion allocated quickly after the Nov. 3 elections. He also wants to make permanent the tax cuts in the 2025 “One Big Beautiful Bill Act,” along with a health care overhaul, a “No Invasion of Our Country Act,” and an end to cash bail. Some GOP lawmakers have bristled at the “Trump dividends,” while House Democratic Conference Chairman Pete Aguilar said the party’s “only real accomplishment” was a tax break for billionaires and cuts to health care and food assistance. GOP strategist Matt Mackowiak argued that any cash infusion into close races would have been more useful months earlier.

    oneidadispatch.com·Donald Trumpmidterm electionstaxes

Related markets

US stocks →

Latest news

  • Robinhood Misses Q3 Earnings as Crypto Revenue Rises and Prediction Market Bets Grow

    Robinhood reported record third-quarter revenue of $1.42 billion, slightly below the roughly $1.43 billion expected, and earnings of $0.51 per share versus $0.55 expected. Event contracts revenue rose to $173 million from $156 million in the prior quarter, while crypto revenue rose to $120 million but fell 55% from a year earlier. Customers traded a record 16.4 billion event contracts, more than seven times a year earlier. Net income was $476 million, down 14% from a year earlier, and the quarter included a $67 million unrealized loss on Robinhood Ventures Fund I. The company narrowed its 2026 adjusted operating expense guidance to $2.675 billion to $2.75 billion, and shares slipped in after-hours trading.

    Decrypt·Robinhoodearningscrypto
  • Treasury's Bessent sees crypto as America's next tool for keeping the U.S. dollar on top

    U.S. Treasury Secretary Scott Bessent, speaking at Ripple's Swell conference, argued that digital assets could reinforce the dollar's global dominance as technological leadership becomes a bigger source of economic influence alongside military strength. He said Treasury could work with the SEC and CFTC to clarify crypto rules after Congress failed to pass the Clarity Act, and set guardrails against banks cutting off crypto businesses. Bessent noted that the GENIUS Act established federal stablecoin rules, that more than 90% of stablecoins are backed by U.S. dollars, and that issuers often hold U.S. government securities as reserves, which could become an important source of funding for the Treasury.

    CoinDesk·▲ DXY▲ BTC/USDTDXYUS dollarstablecoins
  • Amazon has a Muse problem. Is a deal with OpenAI a solution?

    Laura Martin of Needham & Company said Amazon's move to block Meta's Muse shopping agent from its site is a typical defense by an incumbent, since roughly 85% of e-commerce is done on Amazon's website. She suggested Amazon consider a joint venture with OpenAI, owned 50/50, giving OpenAI access to Amazon for purchases while Amazon handles fulfillment, and said Amazon could work with several consumer AI agents rather than only one. Needham rates Meta 'hold', and Martin argued Meta moved first because other AI companies are compute constrained and have no revenue from consumer agents, so they are not yet pursuing the business.

    Yahoo Finance·▲ AMZNAMZNMETAOpenAI
  • Why Royal Caribbean Stock Climbed Today

    Royal Caribbean shares rallied Tuesday after the cruise operator reported higher-than-expected profit and raised its full-year earnings forecast. Third-quarter revenue rose 9% year over year to $5.6 billion. Adjusted net income climbed 12% to $1.8 billion, or $6.57 per share, beating analysts' estimate of $6.38. The company now expects full-year adjusted EPS of $17.85 to $17.95, up from $17.73 to $17.87. In September it agreed to acquire a 50% stake in Sandals and Beaches Resorts, giving access to 18 Caribbean resorts with more under construction. CEO Jason Liberty said 2027 bookings are pacing ahead of historical levels at higher rates.

    Yahoo Finance·Royal Caribbeanearningstourism
  • Warren Buffett's Successor, Greg Abel, Has $114.4 Billion Invested in These 3 Tech Stocks. None Is a Pure-Play Artificial Intelligence (AI) Company.

    Berkshire Hathaway is entering a new chapter after Warren Buffett stepped down as CEO at the end of 2025, with successor Greg Abel reshaping the portfolio. Apple, Alphabet and Bending Spoons together represent about $114.4 billion, or 31.4%, of Berkshire's estimated $364 billion portfolio. None is a pure-play AI company, but each business model could become more valuable as AI adoption accelerates. Berkshire cut its Apple stake heavily in 2024 and 2025 before stabilizing at 227.9 million shares worth $79.1 billion, according to its second-quarter 13F filing. Its Alphabet stake grew to about 106 million shares worth $33.8 billion, while Google Cloud revenue rose 82% year over year to $24.8 billion in the second quarter.

    Yahoo Finance·• AAPLBerkshire HathawayGreg AbelApple
  • Goldman Sachs Sees Investors De-Risking From AI Stocks. At 63, She Finds the Same Crowded Trade Inside Her $900,000 401(k)

    Goldman Sachs said investors are de-risking from a crowded trade in AI, semiconductor and hyperscaler stocks, citing rising capital costs, power constraints and more competition, and that last week saw the largest tech selling ever recorded in its prime brokerage book. Invesco QQQ Trust (NASDAQ:QQQ) is down about 4% over the past month but still up about 16% this year. The article uses a hypothetical 63-year-old with $900,000 across three 401(k) funds that share top holdings such as NVIDIA, Apple and Microsoft: if 40% of her balance ($360,000) tied to AI falls 25%, she loses about $90,000, leaving $810,000. Because she is nearing retirement, it argues the real risk is how much of the account depends on the same stocks, and suggests mapping overlapping holdings, matching exposure to withdrawals over the next three to five years, and rebalancing to a pre-set target.

    Yahoo Finance·▼ QQQ▼ SPYGoldman Sachsartificial intelligencesemiconductors

All news →

Get the briefing on Telegram or Zalo

Join the Upside Telegram channel or Zalo group for the Vietnam stocks and gold briefing at 8:00 and 19:00 (Vietnam time) on trading days, plus a weekly wrap on Saturday morning.