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I've always considered such things as elections but have noticed over the last 24 years of buying and selling that the general public really cares less about who's in office and do not base buying/selling on such issues.
The president does NOT have a giant lever in the oval office that controls the economy and has congress to deal with (if he/she follows the constitution) so I'd expect no rapid changes no matter who gets elected.
Long term? Yes, there'll be changes but a person who's attentive should see 'em coming before they hit.
I don't see a spike in interest rates until well after the election no matter who gets elected. There is/going to be too much other stuff going on.
something else to consider is the potential for banking reform. one of the first things the govt. did in the last crisis was suspend traditional accounting practices so that banks did not have to mark assets to market. this allows them to carry assets (hide losses) on their books. they may be forced to dump property to stabilize the banking system if (heavens forbid) we go back to common sense financial reporting. We may get another govt "Resolution Trust" to take and liquidate property like in the 80's. Not to mention we are already seeing wall street shenanigans with mortgage products again.
people will always need homes and everything is location specific. one area may improve while others decline.
I've always considered such things as elections but have noticed over the last 24 years of buying and selling that the general public really cares less about who's in office and do not base buying/selling on such issues.
The president does NOT have a giant lever in the oval office that controls the economy and has congress to deal with (if he/she follows the constitution) so I'd expect no rapid changes no matter who gets elected.
Long term? Yes, there'll be changes but a person who's attentive should see 'em coming before they hit.
I don't see a spike in interest rates until well after the election no matter who gets elected. There is/going to be too much other stuff going on.
+1
If I was in the OP's shoes, I'd sell at the best time of year for selling, but not worry about the elections while deciding on when to sell.
I've searched to find threads but couldn't see many about this. We would prefer to list our house next spring, but are being told by people (many are Realtors) that we should list it before labor day this year to sell before the election, because if Trump wins, prices could fall.....and people won't be buying.....
Really??
If we sell now, we'd have to rent for about 9 months, which is a pain.
The other question for us is we will be needing to pay the loan back in full in a year, converting the money back to British Pounds Sterling from US $'s. If the Pound strengthens over the next year, we'd have to pay back more than we borrow....difficult to predict perhaps.
Thanks!
Q: Crystal Ball, should I sell now or later?
Q; Crystal Ball, will the dollar get stronger or weaker against the pound?
Q: Crystal Ball, when is the right time to buy?
I think you'd be better off asking the crystal ball what is the next Amazon or Apple stock.
Whom ever is election President isn't going to have any control on the interest rate that the Federal Reserve sets. The Federal Reserve isn't controlled by the government it is controlled by the banks. The Federal Reserve isn't federal anymore than Federal Express is federal. Most people assume that the federal reserve is a government agency but they are wrong.
Whom ever is election President isn't going to have any control on the interest rate that the Federal Reserve sets. The Federal Reserve isn't controlled by the government it is controlled by the banks. The Federal Reserve isn't federal anymore than Federal Express is federal. Most people assume that the federal reserve is a government agency but they are wrong.
I've searched to find threads but couldn't see many about this. We would prefer to list our house next spring, but are being told by people (many are Realtors) that we should list it before labor day this year to sell before the election, because if Trump wins, prices could fall.....and people won't be buying.....
Really??
If we sell now, we'd have to rent for about 9 months, which is a pain.
The other question for us is we will be needing to pay the loan back in full in a year, converting the money back to British Pounds Sterling from US $'s. If the Pound strengthens over the next year, we'd have to pay back more than we borrow....difficult to predict perhaps.
Thanks!
I think a bigger concern would be an interest rate hike, which is likely later this year I've read, now that the jobs rate has picked up more. It will be small, and so the effect may be small, but there will probably be some effect on sales or prices.
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Hmm...
