How will the real estate market look under President Trump? We’ve got a little preview for you today.
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I’ve been getting asked the same question a lot recently. People want to know how our new president and his policies will affect the real estate market, so I’m here to answer the question today.
No matter your political beliefs, we’re going to see some changes in the housing market. However, you might be surprised with what we are about to experience. There are four main things that I think we will see in the coming years with our new commander in chief. Here they are:
1. President Trump is a believer in real estate. He is a businessman with a business background, which bodes well for our industry. We’ve already seen an increase in the stock market, and most experts are expecting a similar rebound in the housing market.
2. An increase in interest rates. We knew this was coming no matter who was elected. With the Federal Reserve increasing them last year, the trend is expected to continue. The more they increase, the more money banks will have to lend out to buyers in the marketplace.
3. A freer overall market. With a capitalistic environment, we will probably see a decrease in taxes. This will put more money in the hands of the consumer and lead to more buying and selling.
4. Deportation effect. With deportations expected to increase, we may see a decrease in new construction. Many builders and developers rely on immigrant labor to produce the new housing stock.
We’re going to see some changes no matter what.
If you have any questions about the market or if you’re looking to buy or sell in the near future, I’d love to hear from you. Just give me a call or send me an email. I look forward to speaking with you.
