How Will Trumps Victory Affect Real Estate
By Kurt Real Estate Nov 23, 2019
Now that election day has come to a close and the initial shock of the outcome is beginning to sink in, questions regarding its effects begin to surface. While many are buzzing over hot topics such as immigration reform and taxes, the housing market is asking a few questions of its own. Considering the president-elect is a real estate mogul, what implications will this have on the housing market?
We know that he wants to limit the restrictions of the federal government and potentially do away with Fannie Mae and Freddie Mac, claiming them to be corrupt. However, any official replacement or plan for this is still unknown. While he does propose to cut taxes putting more spending money in buyers’ pockets, these changes could also lead to larger down payments or higher interest rates, ultimately hurting home buyers.
Other potential limitations that have been vocalized are the repeal of the Dodd Frank Wall Street Reform (which provided more oversight of financial institutions during the recession) and the elimination of the Consumer Financial Protection Bureau created through Dodd Frank to protect consumers against the malpractice of financial institutions.
Though all of this leaves us a bit hazy, this state of uncertainty is only temporary and the forecast tells us that the current demand from home buyers won’t be dying down anytime soon.
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