As the 2024 presidential campaign season heats up, the affordability crisis in the housing market is becoming a major talking point. With mortgage rates on the rise and home prices becoming increasingly out of reach for first-time buyers, the issue has taken center stage in the election discourse.

Key points from the text include:
– President Joe Biden proposed a $10,000 tax credit for first-time buyers and those selling their starter homes to address the affordability crisis.
– Donald Trump criticized Biden, accusing him of impacting home values by expanding affordable housing options.
– The election will likely hinge on swing states like Arizona, Georgia, Michigan, North Carolina, Pennsylvania, and Wisconsin, where housing affordability is a pressing issue for voters.
– The housing market’s affordability crisis is at record levels, with median list prices up 28% since 2021 and the home price-to-income ratio at a historic high of nearly 6-to-1.
– High rental burdens are also a concern, with a significant portion of renters spending more than 30% or even 50% of their income on rent each month.

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