The 3 Best Stocks to Buy for a Biden Bull Market

A new presidential administration brings change, and with it, new opportunities for investors.

President Joe Biden has laid out plansto make housing more affordable for Americans, combat climate change, and position the U.S. as a leader in electric-vehicle production.

Here's how you can profit from the coming bull markets in each of these soon-to-be booming investment sectors, including three stocks you might want to consider buying.

1. Redfin

Biden's housing plan calls for a new tax credit of up to $15,000 for first-time homebuyers. By helping to offset the costs of buying a home, Biden's plan could ignite a housing boom, particularly as the economy recovers once the pandemic subsides.

Redfin(NASDAQ: $(RDFN)$)is an excellent way for investors to profit from a surge in new home sales. The tech-powered real estate services company is rapidly increasing its share of the $80 billion U.S. brokerage market, thanks to the large savings it often provides to home sellers.

By paying its agents a salary, rather than commissions, Redfin can sell homes for fees as low as 1%. Compared to the typical agent commission of 2.5%-3%, Redfin can save home sellers as much as $5,000 on a $250,000 home.

Together with its fast-growing mortgage, title, andiBuyingbusinesses, Redfin's rapidly expanding brokerage operations give investors many ways to win.

2. Brookfield Renewable

Biden believes climate change is the "No. 1 issue facing humanity." He wants the U.S. to generate more energy fromrenewablesources to achieve net-zero emissions by 2050. And he's willing to invest $2trillionin clean energy projects to reach that goal.

Biden's climate plan would be a boon forBrookfield Renewable(NYSE: BEP)(NYSE: $(BEPC)$). Brookfield owns a wide array of renewable energy investments, including hydroelectric, wind, and solar projects.

Brookfield passes the profits it generates from these projects on to its investors via a rising cashdividend. And with Biden's plan likely to create more investment opportunities in green energy projects, Brookfield Renewable is set to reward its investors with even larger cash returns in the years ahead.

3. Tesla

In addition to clean energy, Biden wants the U.S. to be the global leader in electric vehicles (EVs). His auto industry plan calls for the government to incentivize the purchase of EVs for federal, state, and local fleets. Biden also wants to install 500,000 charging stations across the country.

Biden's plan is likely to accelerateTesla's(NASDAQ: $(TSLA)$)growth. The EV leader's sales are already growing rapidly, and Biden's intentions to boost American demand for clean vehicles could turbocharge Tesla's profit generation over the next decade.

Due in part to the Biden administration's support, Wedbush analyst Daniel Ives predicts that EVs could account for 10% of global auto sales by 2025, up from 3% today. In turn, he believes Tesla could deliver 5 million EVs annually by 2030, up from just under 500,000 in 2020.

If Ives is correct, Tesla's vehicle sales could rise tenfold over the coming decade, while creating fortunes for investors along the way.