Bush's Election and Real Estate

On Nov. 3/04 George Bush narrowly avoided a repeat of what happened in the 2000 election and was re-elected as president of the United States. Whether we like George Bush or not, no longer matters because we are stuck with him for another four more years. For those in the real estate industry this might not be a bad thing. One of President Bush's focuses was to make sure that more people could live in their own homes. This will see "...more new home construction" (quote from Boca Raton real estate rep.) and we see policies that keep the US dollar weak and interest rates low. As well, Bush favors lower taxes which means more of the individual's household income can be devoted to home mortgages. Possibly we may see many people carrying larger debt loads which could be dangerous if interest rates were to rise.

Hopefully, we will see a continued real estate boom and continued record low interest rates to support it for the next few years.