The 2016 Presidential election has made a lot of people guess what effect it will bring to the United States' economy, commerce, and real estate. However, an in-depth analysis suggests that a different path may be revealed as the real estate industry reflects consumer confidence and the US' health economy.
Just like all elections, the Presidential elections mirror the US economy tone and the voters' mood of consumers, ultimately. In an economy that's strong and healthy, voters are more likely to be confident and optimistic, thereby nurturing consumer spending and real estate enthusiasm. Homeowners and potential buyers will want to join the real estate industry while thinking that eventually, the American dream will be achieved.
However, with the present anemic economy where there is a high unemployment rate, stagnant wages, slow economic growth, and low consumer confidence, consumer spending towards homeownership will be pushed near ground level.
A 2016 roadmap may suggest the following:
Sellers often do not have similar goals, and money and price have never been the focal points. Learn that all sellers have different selling reasons like marital changes, trade up, family expansion, education, and job change. So whether the economy is high or low, election period or not, the need to should exist. Always try to settle with the highest price.
Buyers, on the other hand, often feel the same thing. Almost all purchases are personal; however, with varying motivation and timing, the urgency to pursue goals like making renovations, trading up and renting, are not considered urgent matters. With everything, timing is necessary and election is not primetime at all; it should not be made a major factor.
How will this year's Election Day turn things out? Well, we will all have to wait until the United States proclaim the 58th quadrennial election open. For clues on which direction we're heading to, the most recent consumer reports can suffice for now.
