How will the election affect homes and real estate in the San Fernando Valley

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?

A Realtor-take on the election

This is my third presidential election as a Realtor. How do these elections effect the market? Like everything else, hope is good and uncertainty is bad, and not just for home prices. No, I don't believe that prices will begin to turn around after tomorrow. But if the general zeitgeist is positive, buyers feel better about purchasing. For this reason and many others, I support Barack Obama. I don't expect his election will bring us rainbows, unicorns, and a Dow at 20,000; the economy is still going to be tough for the foreseeable future. But I think there's no doubt that his message has been one of hope and positive change. And I expect him to continue to deliver that message if he is elected.