Buyers Are More Pessimistic About the Election
Homebuyers hit a gloomy note last month when we asked about the presidential election, with nearly 27 percent saying it will make the housing market worse.
That doesn’t sound like much, but it’s almost double the negative response we got in February. Far fewer buyers said the election would have no effect on housing and the share who think it will make the market better inched down.
What’s going on? More than 200 survey respondents elaborated on their answer. Most said the direction of the housing market will depend on who wins in November. No surprise there.
Regardless of who does move into the White House, though, he or she might be unable to accomplish much, others said.
“With all the political in-fighting the country has had in the past, it is unlikely the new president will be able to soothe both sides immediately and that may cause instability to the market,” a first-time buyer in Virginia wrote.
And many said our current crop of candidates and the political discord in Washington might give buyers second thoughts going into Election Day.
“This election is a true embarrassment and a circus,” said a buyer in Atlanta who said she’d seriously consider leaving the country if her candidate loses.
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