While the visibility of rainbow flags has been more pronounced in the past few weeks due to the Pride Month observances, Redfin (NASDAQ:RDFN) polled homebuyers to see whether the presence of a rainbow flag would either enhance or sour their perception of a neighborhood.
For the most part, it made no difference. The survey of 1,256 prospective homebuyers found roughly half (48.2%) stating the presence of rainbow flags in a neighborhood would have no impact on their relocation decision, while nearly one-third said it would make them more likely to place an offer on a home there and less than one-quarter (22.3%) said it would make them less likely to submit an offer.
Results differed by political preference – 41.4% of homebuyers who identified as Democrat said they’d be more likely to make an offer on a home in a neighborhood where they saw a rainbow flag while 34.6% of Republican buyers said seeing a rainbow flag was a deal breaker.
Nearly two of every five (37.9%) Gen Z respondents said they would be more likely to make an offer on a home in a neighborhood where they saw a rainbow flag, compared to 30.9% of millennials, 19.7% of Gen Xers and 17.7% of baby boomers.
“In today’s divided nation, living amongst likeminded people could be considered a neighborhood amenity, just like highly rated schools and walkability,” said Redfin Chief Economist Daryl Fairweather. “Remote work has allowed scores of people to move to new areas and deprioritize proximity to the office. Oftentimes, that means homebuyers self-sort into areas where their neighbors think and vote like them.”
As for homebuyers influenced by what’s flying atop a flagpole, nearly half of the survey respondents (47.7%) said seeing a Confederate flag in a neighborhood would make them less likely to make an offer on a home in that community. Other vexillology-fueled negativity involved pro-life flags (31.1%), anti-gun flags (27.5%) and the “don’t tread on me” Gadsden banner (26.8%).
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These days you can not rely on phone poles, especially on subjects such as race, religion, and gender. As I experienced, more than 96% of participants will not respond accurately because they are unsure what your reaction will be. The majority wants to be politically correct instead of honestly answering the Rainbow flag. For example, Anheuser Bush lost over $26,000,000,000.00 in Bud Light sales in 2 months for using a rainbow spoke person and going broke. As for real estate transactions: Prospects do not care what LGBTQ+ people are doing or their lifestyle. As long as LGBTQ+ people are far away from their children and not in their neighborhood.