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Will the recent midterm elections have a positive or negative effect on real estate?
Happy post Veterans Day and all that they have done for our country!Now that the midterm elections have concluded and we have a divided government, the house controlled by the Democrats and the Senate dominated by the Republicans, what effect will future decisions, have on real estate going forward.
For sure, interest rates have gone up and will increase again in December ( and possibly two-three more times in 2019) and it appears Trump is not happy about it, whatsoever, and I am sure no realtor is either.
This is only making the cost of housing that much more out of reach for the current typical purchaser. The down payment is higher, since prices are still higher, although increases should be considerably less, maybe 3-4 percent per annum, unless demand increases going forward into the spring.
However, the higher rates really reflect the monthly cost of housing and I am seeing more people putting off their search due to these costs!
Although inventory is up ever so slightly from 2017 year over year at this time; it is still much lower than normal and choices at this time of the year are so thin, as another reason buyers are sitting on the sidelines and saving ... more
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