Blomquist pointed out that the upcoming elections might result in a 'Trump bump,' where low mortgage rates and fewer regulations could invigorate housing market activity, though it may face challenges from seasonality.
He elaborated that while there are concerns about tariffs and immigration potentially triggering an economic downturn, the immediate impact of a Trump-led administration may be a rise in housing sales due to regulatory ease.
Discussing foreclosure trends, Blomquist indicated that easier regulatory conditions would lead to a resurgence of distressed properties entering the market, particularly projected for early 2025, enhancing sales opportunities.
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