Real Estate in the New Presidential Era
Donald J. Trump’s election has generated mixed views on how his presidency will affect the U.S. real estate market. Some real estate experts believe Trump’s economic policies will drive job growth and increase real estate demand. Still, there is a feeling of insecurity shared by some Americans because of the changes a shift in the presidency can bring. While the political landscape braces for possible changes as the Trump presidency approaches, there is a shared belief within the real estate industry that nothing much will change.
Outlook of American Consumers Split
Not all Americans share the confident outlook of those within the real estate industry. Consumers have split views on the U.S. housing market under a Trump presidency. This split is along party lines with most Republicans feeling optimistic and most Democrats feeling less enthusiastic. However, such contrasting partisan sentiments are a usual occurrence after presidential elections. Experts also point to the rising inventory in many housing markets as a reason for consumer’s outlooks being slightly brighter as houses could become more affordable. They believe Trump’s policies, such as his plans to lower capital gains taxes and income taxes, could also boost demand for real estate among consumers.
Foreign Investment in South Florida Will Continue
Foreign investment, particularly from South America, continues to be a driving force for South Florida’s real estate market. Though some South American investors were offended by Trump’s anti-immigration campaign rhetoric, South Florida real estate professionals do not expect them to stop buying American real estate. In fact, over the long term, many experts are projecting that his presidency will have a positive impact on the market. Investors from the Caribbean and especially South America still view U.S. real estate as a safe and stable investment away from the social and political turmoil of their home countries. These often wealthy, visa-holding homebuyers will not likely be affected by Trump’s immigration policies, so South Florida homes will remain attractive to them. Some experts believe that Trump, a well-known billionaire real estate developer, will bring an added sense of prestige and security to American real estate and therefore drive growth in the local real estate economy.
Though the result of the presidential election is not seen in the same light by every American, as it is usually the case, the real estate industry does not expect any drastic changes under a Trump presidency. While it is forecasted that South Florida’s real estate market is gradually slowing, it is expected to remain healthy.
If you are interested in buying or selling a home in South Florida, call Stein Posner today. Our team of South Florida real estate professionals have knowledge in all things South Florida real estate.