We have just been through what I would have to call, the strangest political experience of my lifetime. That includes any of the really strange political experiences in the "Magic City of Miami" that I hail from.
One of the biggest questions on the minds of Agents is "How will this election affect us in the next couple of years?" As was told to me many times as a younger man, "Only time will tell". There were many editorials published within the last year trying to explain that no matter who was elected there would be a change to our economy and also to the Real Estate market.
In one such article, the author, Alexandra Pacurar, cites NAI Global Chief Economist Peter Linneman in his effort to explain the outcome and what factors may be relevant, https://www.cpexecutive.com/post/how-the-presidential-election-will-shape-u-s-real-estate/.
One of the remarks in the article concerning Real Estate dealt with the impact on the election of Donald Trump.
"The real issue is linked to the long-term effects of the 2016 presidential vote. Donald Trump’s involvement in the real estate business will trigger an overexposure of tax regulations’ impact on real estate in the next three months, according to Linneman. Though there are uncertainties about what the tax situation will look like post-election, any real effects will be visible only starting in 2018, as 2017 will be a “window year,” with many adjustments taking place and new policies being implemented. Small businesses will be hit hardest, as many of them lack the financial resources to hire tax specialists that can help them adapt to any new regulations.
New rules will also affect developments underway, particularly office projects since they take longer to build."
We will have to wait and see exactly what is going to happen. The economy itself is growing, slowly. Will the economic structure fare better now that a Pro Market candidate has been elected into the big Office. Again it will be decided by time.
One of the issues covered was a brief nod to the fact that employment rates for over 65 yoa person is higher now than since the end of WW II. Possibly because they can no longer afford to live on their Pensions or Social Security or possibly because they want to live on their own and fend for themselves so they continue working passed their Retirement Age.
So being positive that I will be one of those employed at 65, only 2 years away, I feel the only way to answer the original question is the Standard of that great American philosopher, Alfred E. Neuman, "What Me Worry?"
Author:Deirdre Lucey-Humphries Phone: 863-557-8851 Dated: November 14th 2016 Views: 245 About Deirdre: Deirdre is a Broker and co-owner, with her husband Steve, of EXIT Realty Champions in Davenport - th...
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