As a follow-up to last week’s post about what a Trump presidency will mean for mortgage rates, I wanted to come back to this with a post by Lawrence Yun on Forbes.com. Lawrence is the Chief Economist for the National Association of Realtors, and a man infinitely more qualified than I to pontificate about all of this. But it’s my blog, and I can use the word pontificate here.
Read Lawrence’s opinion here. It’s long, but good. If you want the bullet points:
- There will be a short-term stimulus.
- The trade deficit will rise.
- The stock market will gyrate. (now I just envision a dancing stock market)
- Dodd-Frank will be revised, opening up loan options for local development. This could be a huge boon for the New River Valley real estate market, which is slated for significant growth in the next two decades.
- Fannie Mae and Freddie Mac could be finished.
There are more, but those were my big takeaways.
Here’s the long and short of it all. No one knows. Part of what creates all of this uncertainty is that President-elect Trump has not provided much of anything in the way of a coherent policy, so much of what we’re seeing now is a best-guess shot in the dark. Expect to continue to see things settle as the Trump team prepares for the transition, and I suspect as we get closer to Inauguration Day, we’ll have a clearer idea of things to come.
Isn’t this fun?
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