How will the housing market be after the election?

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As the election is fast approaching, I am wondering how ill the housing market be after the election? Does it matter who will be the president?
 
For California, I think Trump's immigration policy is going to reduce the immigration population and therefore decrease the demand for housing?
 
In the near term - no. But I can see a future where building costs go up because of the fewer undocumented workforce in construction.
 
don't think it will make any difference especially for affluent areas like Irvine. Housing price is local and state government probably have more influence than federal.
 
It could. People will sell their homes and move out of country right?

Usually it depends on interest rates as higher rates slows sales and lower rates spurs them. How the prices adjust is usually opposite but never proportional.

Especially this last rise in rates... some places prices continued to rise.

Home prices have too many non-fundamental factors to predict accurately... just got be in your budget, in your timeline and what you desire (location, floorplan, etc).
 
irvinehomeowner said:
It could. People will sell their homes and move out of country right?

Usually it depends on interest rates as higher rates slows sales and lower rates spurs them. How the prices adjust is usually opposite but never proportional.

Especially this last rise in rates... some places prices continued to rise.

Home prices have too many non-fundamental factors to predict accurately... just got be in your budget, in your timeline and what you desire (location, floorplan, etc).
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None of what you said matters which president it is.
 
irvinehomeowner said:
It could. People will sell their homes and move out of country right?

Usually it depends on interest rates as higher rates slows sales and lower rates spurs them. How the prices adjust is usually opposite but never proportional.

Especially this last rise in rates... some places prices continued to rise.

Home prices have too many non-fundamental factors to predict accurately... just got be in your budget, in your timeline and what you desire (location, floorplan, etc).
Click to expand...
It is incidental that I realized that many GP foreign buyers bought the houses after Trump was elected… and some of them never even came to Irvine, for once.
 
The question was what the market would be after the election, not exactly based on who was elected as president.

That's why my first line was a joke (do you really think there will be a mass sell off of homes depending on who is elected?) and the rest of my answer goes to conditions that could affect housing after the election but there are so many variables.

From what I remember... interest rates and other things are not changed drastically prior to an election and then afterwards, depending, changes will happen that could affect economic variables. I remember doing a refi right before the 2016 election and then rates jumped after.

Which is why I said "could"... but if you read my response, I did not say it was predicated on who actually was elected.

So we are saying the same thing.
 
Just to clarify... the event of the election could change things... not exactly who was elected.

But non-fundamental factors can affect housing at a local level so there is no certainty.
 
Nothing is certain except uncertainty.

Prices go down. Home sellers refuse to list. You can't find the house you want.
Prices go up. FCB's flood the zone. You can't find the house you want.

The best plan IMHO is to have a competent Realtor who can find the right home seller and negotiate a fair price relative to the moment, not priced towards an ever changing, yet always unknowable future. @usctrojancpa is a good Agent to work with and get the buying process started.

My favorite perspective on your question is Ecclesiastes 11:4.
 
sgip said:
Nothing is certain except uncertainty.

Prices go down. Home sellers refuse to list. You can't find the house you want.
Prices go up. FCB's flood the zone. You can't find the house you want.

The best plan IMHO is to have a competent Realtor who can find the right home seller and negotiate a fair price relative to the moment, not priced towards an ever changing, yet always unknowable future. @usctrojancpa is a good Agent to work with and get the buying process started.

My favorite perspective on your question is Ecclesiastes 11:4.
Click to expand...
Most honest and accurate advice on this forum
 
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