The US election is still going on. If Biden is elected, what will happen to the real estate market?
Today we will take everyone to take a look,The possible impact of the election results on the US housing market:
The Biden team released a very detailed$6,400 billion "small housing goal".
Although many of the ideas in this plan are quite ideal, they at least reveal the direction of his policy.
One of Biden’s most popular policies is forFirst-time home buyers offer a down payment reduction policy of up to $15,000.
Considering the soaring housing prices in recent years, this is indeed a big help for many people.But some people worry that the timing of this plan is not right.
Danielle Hale, chief economist at Realtor.com, mentioned: "The idea of a down payment tax credit is great, but it may not be the most'correct' plan in the market right now."
"The biggest problem in the real estate market right now is that there are too few houses that everyone can afford. There is no shortage of buyers in the market, but there are not enough houses."
Biden’s housing plan also includesTeachers, first responders and public servants of other countriesProvide down payment assistance and lower prices.But the embarrassing thing is that because of income restrictions, they can only choose to buy communities with lower incomes or expensive communities with no affordable housing at all.
Change racial discrimination in housing
Biden promised that if elected, he would helpEliminate the racial housing gap.
The racial housing gap leads to low housing ownership rates in communities of color (thus resulting in less household wealth).
He proposedEstablish a nationally unified housing evaluation standard to ensure that the evaluation value of houses in communities of different colors will not be lower than similar houses in white communities.
In addition, he proposedCreate a public credit agency to help improve the scores of minority home buyers by considering the records of paying rent, utilities and other items on time.
This helps more home buyers obtain mortgage loans at lower costs and interest rates.
However, for the above proposals, we have no way of knowing which plans will be passed in the future and when.
So if you are a "wait-and-see" buyer, then we suggest youThink about the purpose of buying a house :
Owner-home buyers, if the economic conditions are right and the price range allows, they will buy it steadily.
The only thing you need to consider clearly is the type, location, and size of the house you want to buy, not whether or not this year is an election year.
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2020/11/18 周三 7:00-8:30 pm
2020/11/21 周六 7:00-8:30 pm
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Whether you want to learn about the housing market during the epidemic, plan to buy your first house in your life, or plan to replace an old house with a new one, or you are interested in the direction of the housing marketInteresting, you can get the most practical and accurate information in the lectures, and you can also conduct one-on-one Q&A consultations with customer consultants!
Flyhomes company introduction
(I.e.Founded in 2015, Flyhomes has developed rapidly and has successfully obtained three rounds of financing.Currently, it provides intermediary services for buying and selling houses in 5 areas: Boston, Seattle, Bay Area, Southern California and Portland.
In the past whole year of 2019👇
●Flyhomes helped customers buy and sell houses with a transaction volume of more than 12 billion US dollars and more than 1500 customers.
●The team has grown to nearly 200 full-time employees, and the office dog family has added more than 10 new members.
●Completed the B round of financing of 2100 million US dollars, the venture capital company Canvas Ventures led the investment, and Andreessen Horowitz (a16z) followed the investment.
●Complete capital cooperation projects, build a US$1.2 million capital pool, and further expand the scale of Flyhomes All Cash Offer and Trade Up product projects.
Last month, Flyhomes was named the top 2020 startup companies in Washington State by The Tech Tribune.For more information, please poke 👉 American technology real estate agency – Flyhomes
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https://www.realtor.com/news/trends/trump-vs-biden-housing-plans/
(For specific tax policy details, please consult relevant professionals)
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