Trump and Texas Real Estate
Like Trump 👍 or Dis-Like Trump 👎
He is going to be here for a minimum of 4 years.
What is his presidency going to do to our Texas Real Estate Market? Is it going to make it greater than ever before? Donald Trump wants to boost home ownership. This is not a secret. He wants the perceived "American Dream" for families who want to own a home. He wants to deregulate the markets and do away with the Frank-Dodd Act. He wants to make building more affordable by taking away the many housing construction regulations and codes. There is no doubt in my mind that we will see a short-term rise in our local economy. We are already seeing the "Trump Effect" taking place with the rise in the stock market and more people in our area going back to work. With expected tax cuts and national spending on infrastructure and military defense, this will definitely provide a boost this year. I believe that more jobs being created will provide the confidence for local residential and commercial real estate purchases. Even with an expected slight rise in mortgage interest rates, we will see consumer spending on homes increase and our local buyers and sellers will also increase due to the upsizing and downsizing of our local families.
I believe we will see a rise in home sales for many reasons and here they are:
- More Jobs equals more relocation
- More home income will provide more spending for personal needs and advanced wants for the family.
- Proposed reductions in government regulations will allow small business' to spend money on growing the business, increasing local economies.
- Changes to the Frank-Dodd Act will free up lenders to be more aggressive with their loans, allowing them to make more common sense lending decisions. (I just went through this, and it wasn't pretty.) There are better ways to make smarter decisions in the loan processes.
- Potential reductions in local zoning and land use for new construction will save costs for builders, reducing prices on new homes, leading to more sales.
- With the better-perceived values in our area, we are starting to see more people looking to Houston to bring their families and business.
I am from Mississippi and I am proud to say I am now a Texan. Who knows for sure what Trump will bring to Texas Real Estate Market, however, I am ready for the ride.