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47 Comments on In Honor of Tonight's Debate: Do Elections Affect Real Estate?
It's to me all about consumer confidence. :)
Here's to hope!
Laura
After the debates, it looks like things are definitely going to a new administration but with way, people do get spooked by the elections and what they mean to economic stability.
I feel that presidential elections most definitely do affect the real estate market. Real estate is a huge investment and many people want to know in which direction the country is headed before they make that kind of commitment.
I'm not sure that very many buyers make politics a big part of their purchase formula. But it is enough to affect the market slightly and we usually see a small surge after the election.
Do the elections affect the economy? Do elections affect the economy? I think they do. Without serious debt and deficit reduction interest rates will rise as our borrowing continues unabated. Raising capital gains tax rates will reduce the attractiveness of real estate investments.
Absolutely...
BTW... Awesome job incorporating the video with the blog. You do it really well and the way it should be done.
Clear, concise, short and to the point.
Good Job!
Great video. You look so professional and at ease. I think the election is having a bit of an impact on slowing down decisions. For my industry, things have definitely slowed down...and this is our busy season. I have been extremely busy on appts, but the lower close rate, and it seems that people are taking longer to decide and many choosing not to do anything yet. This seems to be consistent w/ many I've spoken to over the last 2 weeks. And, as I said, this is usually our busy season and it's been slower than July/Aug and every other yesr, it's been the opposite.
Hell yah! We gotta put this country back to the way the extremely smart founding fathers intended it to be - capitalism, free economy, small government and for heavens sake: stop spending money we don't have!!!!
If I want distribution of wealth, I can just move back to my country in Europe. All the suggestions this administration brings forth is hurting the economy and therefore real estate....we need change from the change....and fast!
I love this post along with all the informed and intelligent responses; we definitely need a new administration, it's time to take back America!
Ilyce, I think the election does affect the real estate industry. People are waiting to see how the election will impact the economy and jobs situation.
Good awareness post on two important subject matters....Banks care who may become the next president and we will find out soon enough how it affects us too. So much is hidden from the "people" that by the time we find out its too late
I think it puts apprehension into people's decision making. Yes, there always does seem to be a slowdown.
Ilyce,
I believe politics do impact the housing market during election years regardless of which party you support.
BTW, fabulous video. Do you have a journalism background? I could watch you on the news! Nice job.
Judy
Hey Ilyce: Probably in Chicago. But not in California where the state religion is housing. We're a little country on to ourselves. In debt up to our eyeballs, too many people.
Thanks for all the great feedback about the video and the topic.
First, some background: Yes, I am a real estate journalist and have been one for the past 20-odd years! And, yes, I've been on television - I was a television reporter/producer for WGN-TV for 8 years or so, from the late-1990s until about 2008. I did a segment on the morning show on Tuesdays and then added in Thursday nights and Sundays. It was a lot of fun to do TV and it really helped my presentation skills. Today, I'm on CNN, Fox and other local TV outlets several times a year. It's still fun!
Some of you who are based in Atlanta know that I'm on the radio there, on Newstalk 750 WSB on Sundays noon to 2p. (You can find all of our shows on iTunes or at ThinkGlink.com/audio.) I've been hosting my own show for a dozen years (I've lost count) and have been Clark Howard's fill-in for about 15 years. Prior to that (and hopefully in the near future), I hosted my own real estate radio talk show that was syndicated to 65 markets plus a real estate minute that was syndicated to 95 markets.
We're planning to make a series of Real Estate Minute videos that will be available to you - either sponsored or perhaps as a licensing deal. You'll be able to use them on your websites and in your newsletters to help keep your customers more informed. We also are building a written content package to go along with this - so if you're interested, please email me at ilyce@thinkglink.com and we will get you on the list for when they're ready.
I love hearing feedback, and am glad you like these videos. I have another 300+ videos at my YouTube.com channel. Visit www.youtube.com/expertrealestatetips to see more of them. As you can tell, we make videos in a number of areas. We've just opened up a TV studio called Breaking Wave Media, and do custom videos as well. If we can help you out, let us know.
For those of you in the Chicago area, we're holding a BWM open house on October 18, after work. If you're interested in a tour of the studio and want to meet me and our producers in person, shoot me an email and I'll make sure you get an invitation.
And, don't forget to visit ThinkGlink.com and sign up for our free weekly newsletter for all the best information on real estate.
Again, thanks for the feedback - enjoy!
Our local market was having gains the last 4-5 months but we were actually down in september and expect that to be the case this month as well.
I thought it was interesting that Biden claimed to help millions of homeowners refinance their homes, when everyone in the industry knows that's not true.
I think that one of the primary reasons why elections is being watched after by homebuyers is the fact that a new president may have new views regarding the existing policies ruling the real estate industry.
Nice video too!
Ilyce, Dallas is seeing a slight pull back in contracts. In my opinion, the pending election is a factor.