The United States is in the middle of a fervently contested Presidential election. Much has been talked about who would be a better President, Donald Trump or Hillary Clinton. If you are looking to sell your property in the US, you would be more concerned about who would be the better President for the US property market, Clinton or Trump.
This was a question put by the U.S. property portal, Zillow, to realty experts across the United States in the comprehensive Home Price Expectations Survey. Many housing experts predict that regardless of who won the election in November, 2016, the property market in the country is set to grow by 4 percent this year.
The housing market has been helped by the stability in the U.S. stock market, rebounding oil prices, lower interest rates and other factors. Who becomes the U.S. President will have a huge impact on home prices in the U.S. as well.
Over 100 housing experts were asked who was the best candidate for the U.S. housing market - Senator Ted Cruz, Governor John Kasich, Senator Bernie Sanders or the leading contenders Secretary Hillary Clinton and billionaire businessman Donald Trump.
The survey was conducted before Sen. Cruz and Gov. Kasich suspended their campaigns. By now it is clear that Trump is the presumptive nominee for the Republicans and Clinton is way ahead or Bernie Sanders in the race for the nomination as the presidential candidate of the Democratic Party.
Most respondents viewed both Sanders and Trump unfavourably. They didn’t like Sanders ideas of a democratic socialism that prioritized wealth redistribution over economic growth. They were equally perplexed with Trump’s unpredictability and have no clue as to what to expect from him.
Sen. Cruz was viewed negatively as well, but surprisingly, most housing experts were positive about John Kasich. They were appreciative of his tenure as the Governor of Ohio, where the property market has never been healthier than it is today.
Many respondents were positive about Hillary Clinton and say that she would be good for the health of the housing market in the country. 45% of respondents said that a Trump presidency would affect the real estate sector in the US either “very negatively” or “somewhat negatively,” only 16% felt the same way about Clinton. Over 35% had positive expectations from a Clinton Presidency. Others chose to remain neutral.
Aaron Terrazas, senior economist at Zillow says, “Overall the panellists viewed Secretary Clinton as slightly positive for the outlook for housing finance reform, and Mr. Trump as negative. Some respondents were hopeful about Secretary Clinton’s proposals to continue federal government support to the GSEs while others worried that her plans place too strong an emphasis on homeownership which could lead to unsustainable credit policies.
“Although Mr. Trump is well known as a real estate developer and, presumably, understands housing issues very will from his decades of experience in the real estate sector, he has not taken a clear stance on housing finance reform or the appropriate role that the federal government should or should not play in housing markets,” Mr. Terrazas added.
So what’s going to happen in the Presidential election of November, 2016? If opinion polls are to be believed, Hillary Clinton holds a significant advantage over Donald Trump and is the favourite to win the presidency. However, her ratings have shrunk recently and Trump is catching up fast. Both candidates have a high unfavourability rating with the American public. Senator Bernie Sanders, it seems, is out of the picture, barring a miracle.