REAL ESTATE TRENDS, AS DOES THE STATE OF THE ECONOMY IN GENERAL, Impact Presidential Choice!

By
Real Estate Agent with Dean's Team - Keller Williams Realty Partners Chicago IL

You folks reading from outside of the U.S. might think us either crazy, or demented, after you view a few of our political ads on TV or on the Internet!  Thankfully - they will all be history soon, as will this historic election.

We all know the U.S. Economy has become the key issue on most voters' minds.  Unemployment rates are up in many areas, income stagnant versus price inflation, and home prices have declined.

One measure of comparative housing prices comes from the Office of Federal Housing Enterprise Oversight (OFHEO), which tracks data by state for homes backed by a Fannie Mae or Freddie Mac-guaranteed mortgage loan.

OFHEO Data indicate that Democrat IL Senator Barack Obama leads in all but two states which show price declines between the end of the Second Quarter, 2007, and the Second Quarter of this year, the latest period for which their statistics are available.  The exception states, in which Republican AZ Senator John McCain leads - his home state of Arizona, and the home state of running mate and Vice Presidential Candidate AK Governor Sarah Palin - Alaska.

Here is the OFHEO Chart comparing home sales data, unemployment rates, and changes in personal income for every state.  It was posted in the Wall Street Journal Real Time Economics Blog by Reporter Phil Izzo yesterday.

See, as well, our post this afternoon via BlogChicagoHomes.com.

DEAN & DEAN'S TEAM CHICAGO

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Rainmaker
207,250
Pat Tasker
Shorewest Realtors - Germantown, WI
Your Milwaukee Metro Area Agent (WI)

Tuesday it will be over....but I bet it will takes days to know the exact numbers, so if it is the landslide they are predicting we will know...BUT if it is close, we might have to wait for days....Please put us out of our misery....oh, maybe the misery starts on WEd!  We will see....One thing keeps going through my mind..."be careful what you wish for!"

Nov 02, 2008 12:20 PM #1
Rainmaker
487,190
TIM MONCRIEF
Tim Monciref - Austin, TX
Over 2,000 homes sold…..

It is pretty scary to see what causes the public to believe in what they believe in.  You would think that reality would play some part of belief.  Drive around and you will see who is voting and that is a great wake up call to reality.  Most voters are either not knowledgeable, not educated, or not intelligent.  Thus, emotion drives votes.

Nov 02, 2008 12:22 PM #2
Rainmaker
368,263
Dean Moss
Dean's Team - Keller Williams Realty Partners Chicago IL - Chicago, IL
Dean's Team Chicago IL Real Estate Team

Hey, folks -

Thanks for the comments!

Indeed, emotion does drive votes.  My own mother called me the other night - 82 years old, and asked me if Mr. Obama is a Socialist!

This is sad, isn't it?

DEAN & DEAN'S TEAM CHICAGO

Nov 02, 2008 12:27 PM #3
Rainmaker
1,936,482
Tom Braatz Waukesha County Real Estate 262-377-1459
Coldwell Banker - Oconomowoc, WI
Waukesha County Realtor Real Estate agent. SOLD!

Dean

No matter what come Wednesday it will be show time.

Sincerely

Tom Braatz

Nov 02, 2008 12:34 PM #4
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Rainmaker
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Dean Moss

Dean's Team Chicago IL Real Estate Team
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