Elections and Real Estate

The elections are over and the results are mostly in. What affect will the results have on real estate? Great question. Some believe that the newly elected officials will radically change how the Government deals with Fannie Mae and Freddie Mac, two of the biggest lenders on the block. They believe it spells doom for them. Perhaps.

Some believe that the lawsuit into foreclosures brought forth by the 50 State Attorneys General could become derailed. Half of the executive committee, 6 out of the 12, lost their bid for re-election. I imagine it will depend on how the newly elected officials decide to pursue the interests of the voters.

What do I think you ask? Well you know I will share that with you. I believe it will help real estate. The American population was not happy with what was happening and sent a strong message. That message was, We want to feel safe in our pursuit of happiness. We want to know that our way of life is not going to collapse. We want to be reassured that those things we hold dear will be there tomorrow. Like the job we love or hate will still be there tomorrow. We want to know that our homes will not be worthless. That we made good decisions, certain members of our government were not and we wanted to let them know how unhappy we the American people were about it. And boy howdy did the voters let them know.

I can feel it starting. The swell that will lift us out of the worst we have seen in over 70 years if ya listen to Butch. I have been saying that the worst of it is over in real estate. Prices are low yet homes are selling. A local economist announced Thursday at the Boise Chamber of Commerce breakfast, the recession is over. It will be a slow road back he said. Of course, I say, it should be a slow road to recovery. Fine wines, aged beef, relationships, love are all better when time is taken. The people have sent a message, the elected officials need to hear it, respect it and pursue it with a passion. So yeah, I believe it will help real estate.

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One Response to “Elections and Real Estate”

  1. dianadynamics Says:

    I enjoyed this post and I hope that with the results of the election the people can feel more comfortable with the future of their lives. Although I am not convinced that the worst of the housing economy is behind is and I feel it will be stagnant for a while after it bottoms out, there is still alot of opportunity in the real estate market for those who can leverage and be creative!

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