Consumers tend to hesitate on significant purchases like houses and cars before elections, and resume spending afterward, creating an 'election shopping slump.' This pattern is consistent across recent election cycles.
As we approached the presidential election, wedding planners noted newly engaged couples were distracted and hesitant to book events for the following year, reflecting a broader trend of consumer reluctance before elections.
Financial advisers reported clients were holding off on major investments, keeping their assets in cash, indicating a significant pre-election caution that impacts various sectors including real estate, weddings, and automobiles.
Real estate appraiser Jonathan Miller observed a consistent pattern over the past two decades: home sales dip in the second half of even years, correlating directly with the anxiety surrounding elections.
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