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Status:
"I didn't do it, nobody saw me"
(set 17 hours ago)
Location: Ocala, FL
6,484 posts, read 10,357,154 times
Reputation: 7925
I suppose if you were concerned that your job might be negatively effected by a new administration you might wait a while before buying a home. If you need to buy a home ASAP, I don't think it really matters. I don't think sellers stop listing their home during an election year.
It depends on the market. If there are a lot of jobs related to very public policy in some way it could have an effect.
What could happen is actual investors might ease up which could add supply and lower price. But a hot market is hot market which usually means location which is business or weather related in someway. But a cheapER market might hold steady.
I heard the samething last spring. After the tax cuts I knew some sellers that were told to wait a few months see what happens.
If flipping is easing up in your area that could be the biggest issue if it puts a significant number of houses in the local market supply. Or maybe the banks don't want to hold on to their foreclosures as long and they start selling at get rid of it now prices.
Extreme partisanship coupled with overheated mindless rhetoric makes folks uneasy. Uneasy people hesitate.
It ain't the elections. It's about public behaviors by our "leaders."
prices wouldn't be lower unless sales were slower - that is, unless it took longer to sell a home and morer sellers reduced their price.
I completely agree with Mike that there is an unmeasurable subset of people who get wrapped up in elections, and who will put off any buying decision from about August until the new year during a 4 year election cycle.
I will add that I looked at November quarterly sales (so Sept-Nov) in my market for the last 8 years, and there was no correlation in 2012, 2016, or even 2018.
At the same time, our market has been strong enough that buyers couldn't have the "I'll wait for election results, the market will be slow" mindset anyway.
Extreme partisanship coupled with overheated mindless rhetoric makes folks uneasy. Uneasy people hesitate.
It ain't the elections. It's about public behaviors by our "leaders."
This is a wholly non-partisan statement, FWIW.
I was going to say something similar, but Mike said it so well I thought I'd just point out how excellent and accurate his post was. Any time there is uncertainty about the future it makes some people hesitant in all markets (stocks, real estate, etc).
I bet it matters in Houston, or anywhere else people's income depend on the energy sector.
Why? the price of energy is not a Houston or even a Texas thing, the price of energy is global. You have more wind power in Texas than any other state. Houston may be affected by the number of refineries that blow up because of limited regulations. The only way housing is affected if your job is dependent on the party in power.
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