Young Americans from Generation Z who will vote in a presidential election for the first time are grappling with issues that affect them in unique ways. The Duty met with them in several states to explore the issues that motivate them to go to the polls in November.
One only has to set foot in downtown Richmond, the capital of Virginia, to grasp the full meaning of ” Virginia is for lovers “, the motto of the state’s license plates.
The capital appeals to history buffs, thanks to its central role in many major historical events, as well as young families and students, drawn to its vibrant campuses, trendy neighborhoods and expanses of green space.
With 230,000 residents, Richmond offers small-town charm while still being close to Washington, D.C., said Duke Hawkins, a 28-year-old resident outside his apartment complex on the city’s outskirts.
Growing up in Fredericksburg, an hour north of Richmond, he moved to the capital city to study. Since then, he has worked as an insurance agent while continuing his studies in college. And now, he dreams of being able to make a life there with his fiancée and raise children in a charming little house in a few years — a natural progression for the young couple who are about to get married.
After five years in their small apartment, they are determined to find a new place to call home. They have a combined annual income of $130,000, a down payment and good credit, which until recently would have made them ideal candidates for first-time homebuyers.
But once they began exploring the market, they quickly ran into the reality of the city’s major housing crisis. They couldn’t find a property that fit their $300,000 budget.
“I can guarantee you that houses in this price range do not exist here. They are all beyond our budget,” Duke laments.
As of July, the median sale price of a home in Richmond was US$387,000, according to the Richmond Realtors Association — the equivalent of CA$525,000.
And good deals don’t stay on the market long: on average, homes show “sold” in just 12 days. For comparison, a single-family home in Montreal sold in 58 days, on average, in the second quarter of 2024.
Richmond’s real estate and rent prices have risen dramatically in recent years due to a housing shortage, but also with the arrival of workers from larger cities like Washington DC, a two-hour drive away, who enjoy higher wages.
“I know several people who bought a house in Richmond while still having their jobs based in Washington. Thanks to telecommuting, they only have to go there once or twice a week,” Duke said.
Another aggravating factor: many owners, who are still benefiting from the low interest rates obtained a few years ago, are reluctant to sell.
Unable to find an option within their budget, Duke and his fiancée decided to remain renters, at least for another year, hoping the market would stabilize.
“It’s frustrating to continue paying rent, which will continue to be higher, and to have less savings. We feel like we missed the perfect moment to buy,” he says.
Have to be creative
In the sleek, glass-enclosed offices of Joyner Fine Properties, one of Richmond’s leading real estate agencies, Henri Mayes is browsing the latest listings in the area. The 23-year-old broker sighs: As always, supply is extremely limited.
She demonstrates this at Duty : On its real estate platform, it examines the purchasing possibilities for a couple who want to buy in Henrico County, which extends around the city of Richmond. Result: 17 available homes — grouping together houses, apartments and semi-detached homes.
“I constantly see the same people coming to the open houses that I have been organizing since the beginning of the year. And they are still looking,” she says.
I know several people who bought a house in Richmond while still having their jobs based in Washington. Thanks to telecommuting, they only have to travel there once or twice a week.
The broker herself has just gone through this process. A few months ago, she became a co-owner of a townhouse with her co-worker.
“My situation didn’t allow me to buy alone, and neither did he. We don’t plan on being a couple in the next few years, so we said to ourselves: why not buy together?” she explains.
With a bit of luck, and thanks to their experience in the field, the two colleagues finally bought their house for $320,000 in Henrico, a suburb of the city.
“Today, Gen Z has no choice but to be creative. You have to buy with a friend, ask your parents to co-sign or co-borrow, or learn how to renovate to restore an old house,” she gives as examples.
Promises, expectations
In a charming little community café south of the James River, a few minutes from downtown, Gaëlle Emmanuelle enjoys the calm surroundings before picking up her daughter from daycare.
The 30-year-old mother, who has been living in Richmond since 2021 — the year she bought her first home with her ex-husband — recently had to sell her house and move back into an apartment following a separation. Despite her $98,000 salary, she is also struggling to find a home she can afford.
“The American dream, as it’s sold to us, is not real. It seems almost impossible to succeed, unless your life corresponds to what the current system privileges, which is families and couples,” she confides.
As the presidential election approaches, former President Donald Trump and Vice President Kamala Harris have both promised action to address the country’s housing crisis.
Kamala Harris is proposing a $25,000 grant to help first-time buyers get into the market — a measure that many economists say could push home prices even higher.
“Currently, first-time buyers in Richmond receive $5,000 in assistance. By increasing it to $25,000, I’m afraid prices will explode,” also estimates broker Henri Mayes.
Former President Donald Trump, meanwhile, has been more muted on the issue. If elected, he will “end the unsustainable invasion of illegal immigrants that is driving up housing costs,” his campaign said this summer.
Still undecided about her choice in November, Gaëlle believes that a set of measures addressing the cost of living will be needed to ease the burden on young buyers.
“When I think about housing, I consider it in a broader context, which also includes the costs [élevés] for childcare and cost of living. I [vais pencher] to the government that will invest the most in the safety nets that should exist, but are often absent,” she said.