The two presidential candidates, the upcoming election, and the housing market are all key variables that will affect the state of the economy over the next few months.
With, November 2008 right around the corner, many homeowners are thinking about the current real estate market and what solutions each candidate poses. Today, real estate is a key driver in our national, state, and local economy. So, we can assume both presendial candidates will be proposing new ways to support the real estate industry.
Becuase real estate is such an imporant factor in our economy, it will be a major topic of discussion in the campaign. Both Obama and McCain have recognized the existing housing problems in the country. Both have acknowledged a need for some type of reform. They also disagree on how much government should be involved and in which aspects. How the market will unfold after the election remains unknown.
How do you think the 2008 Presidential election will affect the real estate market?
The world is monitoring our Presidential Election and outcome and either candidate will have both a negative and positive effects on the global markets based on what they represent. In my humble opinion the public will wait and see if the new President delivers on campaign platforms. Couple that with our 10.5 trillion dollar debt, volatility on Wall Street, the impact that volatility has on individuals and credit markets, rising unemployment and our war obligations…. consumers will be slow to make major moves relative to housing unless necessary. We have to get through Christmas, the upcoming OPEC meetings and the outcome and effect at the gas pump and the election first. When the press makes numerous analogies to the Depression of 1929, people run for Pepto Bismol vs. an Open House. We all have to raise the bar professionally. If MLS takes 9 photos for a listing, make them excellent and upload 9. Stage homes; attend all showings representing your seller. Logic dictates, if the buying public is skittish at best, we better be the quintessential professionals!
Comment by kcrosthwaite — October 21, 2008 @ 11:49 am