According to some recently released data, housing prices have been on a notable upward trend between May and July 2012. Across the country, prices of single-family homes (across 20 cities) have shown an annual gain of 1.2 percent in July. In areas such as Massachusetts and Chicago, the housing prices have risen even more than the national average.
Surely, this is some good news that everyone has been waiting for, but will it last? How will it effect the presidential election? I would hypothesize that this data (although July is a couple of months ago) being released will surely give Obama an advantage in the weeks ahead because it is evidence that his economic policy is effective for the country as a whole.
Americans are notorious for thinking about their own wallets when it comes time to cast their votes, and rightfully so. The economy is one of the most important factors in presidential elections. Think: “it’s the economy, stupid.” Based on past events, I would think that the release of this data will be largely advantageous to the Obama campaign, especially as November is not so far away.
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