BEST OPPORTUNITIES TRUMP ADMIN BRINGS TO HOUSING
According to Gary Acosta, co-founder of National Association of Hispanicd Real Estate Professionals, for the first time in history the US has elected a president without any political or military experience. For some, this means a promising departure from the status quo and the rapidly increasing feelings of disenfranchisement from our political system. For others, a Trump presidency encourages apprehension, as his directives are considerably less predictable than those of a seasoned politician. However, the new president’s lifelong career as a builder and real estate investor could provide some fresh prospects for a growing, but fragile, housing industry. While his promise of mass deportations would cause major setbacks to the housing market, there are other opportunities that may exist. Trump likes to build things, and if you ask real estate agents what is the one thing that would help them sell more homes, the most common answer would be increasing the available housing inventory. New home construction was almost non-existent between 2008 and 2013. During that same time period the country added nearly five million new households. The net result of this housing shortage has been a sharp increase in home prices and a decrease in affordability, leaving millions of would-be homeowners on the sidelines. Trump could, by providing solutions to our housing industry challenges, inject a powerful boost to the business and reverse the trend of decreasing home ownership rates across the country. For example, members of the new administration have promised and already begun an overhaul of our financial regulations.