People's lives are so busy today that they often don't take the time to consider the impact that decisions made by politicians have on their future and their children's future. Some say they're not interested in politics and others may simply feel that all that is happening within the political arena doesn't concern them and is best left to the politicians. Our government is continuously introducing bills and passing laws that affect each and every one of us, if not directly, at least indirectly. Real estate and transactions involving it are one realm in which government regulation significantly affects us all.
The cost of home ownership is influenced substantially by regulatory agencies. Ordinances and laws passed determine the cost of insurance, taxes, repairs, etc. Interest rates set by the federal reserve may determine mortgage payments. Well I don't own a home, I rent you say. But do you think you're landlord will accept paying more property taxes or insurance without passing at least a portion onto you in higher rent? And what about all of the businesses you make purchases from? They either own or rent the property that houses that business. The cost is reflected in the price you pay for goods and services.
If you're an investor, you're not only subject to all of the above but may be affected by a multitude of laws and regulations concerning auctions, brokering and even mortgages depending upon the type of business you operate. For example, if Senate Bill HR 1728 passes, not only will the investor's creative financing options be diminished but it also legislates how and when a property owner may sell their own property. Regardless of whether you feel the direct impact of government regulation on current issues or not, at some point, they will extend into some area that breeches your right control your life or property. How long before you will take a stand?
Comments(0)