How will the new administration affect the Hampton Roads market and the national market as a whole? We have to look to the economy as whole to find out.
Buying a Hampton Roads home? Get a full home search
Selling your Hampton Roads home? Get a free Home Price Evaluation
Selling your Hampton Roads home? Get a free Home Price Evaluation
How will the Trump administration affect the real estate market here in Hampton Roads and across the nation? The bigger question is how it will affect the economy.
Basically, the administration is using a lot of economic regulations and talking about cutting taxes. The reason is that without government easement like we saw during the Obama administration with quantitative easement, our population is in a huge lull until around 2023 or 2025 when millennials come into their peak spending years.
So if the government did nothing, our stock market would have crashed and stayed there. The real estate market would have crashed until the mid-2020s. That's why we're seeing low interest rates and all the economic incentives for businesses and stimulation.
The new administration's goal will be to ride out the tide and continue to create new stimulation.
The new administration's goal will be to ride out the tide and continue to create new stimulation until millennials can pick up the slack from the declining baby boomer generation.
For the next year to 18 months, I predict we'll see a very strong real estate market and stock market. We'll also see a stronger economy in general because of all the incentives and government stimulation happening. There's a lot of excitement because it's new and there's a new administration. After that, we don't know whether the economy will remain strong heading into the 2020s.
If you have any questions about how this affects you or our local market, I'm happy to help.
