I was wrong.

 

I said the election would come and go and wouldn’t make any difference. Nope.

 

Let me say first, frankly, I feel silly talking about the effects of this election on the housing market when there are so many more direct and personal effects that so many of us are still feeling and fearing. The country just became less safe for a lot of people. Still, the multi-decade fight for equity, equality, and a just society continues, and I will continue to donate, advocate, and vote accordingly. 

 

But I’m here to share thoughts on housing, as I do, so here goes.

 

The new administration has been very clear that they plan to take a bat to financial, trade, and immigration institutions. Tariffs, trade wars, deportation. It’s going to be a mess.

 

As a result, there is broad consensus that the next four years might be wildly inflationary. That’s right - be prepared for more inflation.

 

Now, this might seem ironic, as campaigning on the damaging effects of the last four years of inflation is what got these guys elected…but hey, these are weird times.

 

Of course, this inflation might include housing inflation, which we call “appreciation.” In other words, with inflation, home values are likely to rise.

 

It’s hard to imagine right now in what is, for all intents and purposes, a “buyer’s market.” Homes that would have sold with 10-15 offers in spring now sell with one offer, if any. Houses sit on the market for 60 days plus and for the first time in five years, we get more calls to sell homes than buy them.

 

Until next Friday,