According to industry experts, Donald Trump and Kamala Harris both share the same correct diagnosis of the main issues affecting today's housing market: high mortgage rates and a low supply of listings. However, they would take different approaches to addressing these problems, leading to distinct outcomes for the real estate and mortgage markets depending on the election results.
Differences between Democratic and Republican approaches start with the macroeconomic landscape, fiscal policies, leadership changes in housing agencies, government-sponsored enterprises (GSEs), and actions by entities like the Consumer Financial Protection Bureau (CFPB), influencing the future of the housing market.
Tim Rood, a former Fannie Mae executive, cautioned that the current unprecedented times make forecasting based on historical precedents challenging in predicting the housing market under different administrations.
Economic forecasting from Oxford Economics suggests that Kamala Harris is likely to pursue an economic policy agenda similar to Joe Biden's, indicating potential continuity in housing market approaches under a Democratic administration.
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