The inauguration is almost here – Trump will be your president on Friday!
How will he affect our local real estate market?
His detractors are aghast over his tweets, but Trump keeps them coming. In spite of their bombastic nature, I think we are already numb to his tweets, or at least getting used to them being part of the landscape.
At this point, I don’t think the Trump Effect will have much, if any, impact on us – positive or negative. If rates stay under 5% (today’s 30Y is 4.12%), buyers should shrug it off and keep buying.
I also think sellers and agents are getting smarter about price, which will help tremendously. As you saw in the previous post, they might screw it up a bit once they hit the market, but eventually buyers and sellers should both be happy with a modest appreciation rate of 2% to 4% this year.
The #1 thing that should keep our market stable is the buyers’ focus on getting the right house for the long-term. Before the 2007 downturn, buyers thought they could always sell for a gain, and, as a result, any house would work for the short-term. But after our so-called ‘crisis’, we recognize prices can go down – but it only hurts if you sell.
Sales and prices may bounce around, but with the focus on the long-term as a foundation, our market should keep cooking.
Re: Rerouting of Del Mar trains…
“Trains have hit 12 trespassers in North County over the last year and killed multiple people in Del Mar.”
Trump might say…
That’s not a bug. That’s a feature.
Skip the 1.3 billion reroute. Rename the track “Darwin Junction,” to remind people they’re a part of physics, and move on.
Hear that! We have a “right” to get to the ocean! It’s in the Constitution somewhere! 🙂
No impact Jim …..
Roll ’em back.
This should be the real test of the Trump commitment to the regular folk. If he really cares about doing something for everyone, he will reverse his reversal of the FHA insurance premium.
If he is just about sticking it to Obama and Washington elite, then he will let his reversal ride and he’ll be cooked within 6 months.
I think he will reverse his reversal, and back-pedal on other issues too.
Unfortunately, Alec is already on to him, which will make it harder for Trump’s ego: https://youtu.be/JUWSLlz0Fdo
As bad as this decision is, I would rather he not “reverse his reversible” as that shows a lack of vision, understanding, and planning, basically being a flip flopper.
One day in office, and he has already gone from calling Hillary “crooked” over the past year to praising her with a round of applause. Naw that doesn’t sound wishy washy…flip flopping.
No effect? This just in….