Our friends at Calculated Risk have a blog post about how the election will affect the financial markets. But how will it affect real estate in Burbank, Studio City and the San Fernando Valley?
Here's my non-economist guess-of-an-answer: it won't affect it much. On the federal side, Fannie Mae and Freddie Mac aren't going away any time soon, no matter what party controls Congress (it would be a major-league game-changer if they did). The banks have all the incentives in the world to keep loaning money to people for houses, so that won't change. Of course, good financial news, such as employment going down, will have a positive effect, but I don't think just one house in one branch of government is going to be able to do much there either. In California, there may be more government oversight of the foreclosure process, which isn't such a guess since it has started already. The government in Sacramento will be working faster, now that a supermajority is no longer needed to pass a budget or much other spending except for tax increases.
How do you think the election will affect real estate?
Judy Graff's sublime-to-the-ridiculous (well, mostly ridiculous) take on real estate for east San Fernando Valley and North Los Angeles communities. This includes Hollywood Hills, Burbank, Studio City and Toluca Lake real estate and homes for sale, and also covers Valley Village, North Hollywood, Glendale, Atwater, Highland Park, Silverlake, Sherman Oaks and other L.A. areas too. General news and musings as well.
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