How the Presidential election really impacts the real estate market

So,
will
the
presidential
election
really
effect
the
US
mortgage
market?

Koorosh
Farzad,
founder
of
Masihi
Financial
Group

“After
a
presidential
election
there’s
uncertainty.
And
when
the
market
has
uncertainty,
you’re
going
to
have
rates
going
up.
People
are
going
to
be
a
little
bit
more
reserved
with
their
next
acquisitions
as
well.
But
regardless
of
whoever
wins
the
president
election,
you’re
going
to
have
uncertainty.
My
belief
is
that
if
Harris
ends
up
winning,
the
uncertainty,
I
believe
will
carry
on
a
lot
further.
Rates
would
stay
higher
for
longer.
With
Trump,
I
believe
the
uncertainty
will
only
be
for
a
couple
months,
and
then
rates
will
be
driven
lower
and
the
economy
would
grow
off
of
that
stability.

“Oddly
enough,
most
people,
if
you
ask
them,
would
say
the
reverse
would
happen,
that
you
would
have
more
certainty
with
Harris
and
uncertainty
with
Trump.
But
I
actually
believe
it’ll
be
vice
versa.”

Crista
Lowrie,
VP
at First
Citizens
Community
Bank

“I
think
I
think
it
does
affect
it.
Unfortunately,
some
years
have
been
better
than
others,
and
interest
rates
have
been
much
lower
in
prior
years.
Right
now,
we
have
a
big
inflation
problem,
and
where
that
actually
comes
from
up
here,
I’m
not
sure.
However,
I’m
looking
for
something
different
to
happen
for
homebuyers
because
income
is
not
going
up
as
much
as
the
home
prices
are.

“Baby
boomers
are
the
biggest
collection
of
homeowners
currently
and
they’re
not
selling
because
there’s
nowhere
for
them
to
go.
So
until
people
die,
and
then
the
family
sells
the
house,
there’s
a
shortage
of
houses
that
are
affordable.
I’m
looking
for
some
sort
of
change,
somehow,
with
whoever
gets
voted
in
this
time.”