Halloween has FALLen to the quickly changing weather, Thanksgiving is calling, Christmas in sight, and President Elect Donald Trump has won the election. Whether your vote went Republican or Democrat, there will be changes in the housing market impacted by the recent election. The National Association of Home Builders (NAHB) indicates that the 2016 election brought new leaders to the table, but “plenty of unfinished housing business” is left to work on. Government regulation, tax reform and incentives such as mortgage interest deduction, and Low Income Housing Tax Credit will be on the table for further discussion. Nonetheless, little has been on the political platform as to what President Elect Donald Trump will do with the housing market.
Trump=Real Estate Mogul —>Trump Towers<— but, according to the Washington Post, Trump’s campaign has not been forthcoming about what is in store for the housing market. However, Trump’s background, should that be an indicator of future events, does have quite a breadth and depth in investing, real estate, and business–will this provide what the housing market needs? Additionally, the Washington Post indicates a volatile market creates uncertainty and that, in this presidential election time period, mortgage backed securities have been the investment of choice–as a result, mortgage interest rates have continued to remain low, so take advantage of the home purchase or remodel you have been wanting.
But…The Washington Post suggests that where one lives may have different impacts on the economy as “buyers in economically healthy blue states are more likely to be rattled by the election outcome and concerned about the future of the economy and may put off making a large purchase, such as a home.” Utah, following the NAHB chart nicely represents Utah as a strong Republican hold, indicating that home building, remodels, and new home sales may remain the same or even excel–YES…American Heritage Homes does all of that and is eager to assist in any way.
The National Mortgage News supports the Washington Post’s comments about President Elect Donald Trump’s campaign not discussing much in the way of housing. However, and I find this intriguing, the National Mortgage News speculates that, because there is not currently a housing crisis, there was not much attention given to such a pivotal foundation in global economy. This leaves, following what appears to be recurring news, much speculation to what will happen when President Elect Donald Trump signs into office. {{{CRISIS}}} Fannie Mae and Freddie Mac remain in a conservatorship, before Obama’s election and after the 2008 housing collapse of the subprime market. As a result, the National Mortgage News seems to think that a bipartisan stance will be needed for housing attention as there is little to form a firm foundation. Trump does have ties to the real estate industry, however, there is much to be speculated without knowledge of what Trump has planned .
And…interest rates were projected to take a hike in December, although small and steady, but the Business Insider speculates that the Fed is likely to delay this as there is global economic turmoil—->A WIN for the short-term for both home purchases and refinances!!
What does this mean when :::BUILDING::: a relationship with American Heritage Homes? As previously blogged, we strive to meet regulations provided by the Housing and Urban Development practice guidelines and building your dreams does not matter who is in the White House. American Heritage Homes offers new home building, sales, and remodels<—check out our Remodel and Design link. With holidays upon us, remember that working with American Heritage Homes is like waking up on Christmas morning {{{Exciting, Memorable, Magical}}}
Happy Holiday Season from American Heritage Homes!!
