Apartments, Condos, and a New President
Historically, markets tend to get jittery when a new president is elected, particularly when the incoming president represents a different party than the outgoing one.
Real estate markets are not immune to this sense of disquiet and unease. When faced with the unknown, people are much more likely to stay put rather than make large investments or make profound changes to their situations.
This is a real challenge for HOAs and property management companies. Filling vacancies and making sure there are enough homeowners to keep an association strong are concerns even in the best of economic times.
As it happens, though, the real estate market is not feeling any sense of pessimism, solely because of the incoming president himself. The election may have been divisive and president-elect Trump may have his detractors, but he is first and foremost a businessman who made his fortune in real estate.
According to recent polls, those in the real estate market firmly believe that Trump will act with their best interests at heart, since their best interests are ultimately his best interests. Whether the renters or buyers will move forward with the same level of optimism remains to be seen.
But one thing is certain – come January, there will be a real estate mogul in the White House, and for those in the real estate sector, that appears to be good news.
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