“Hasani Steele challenges Trump’s statement”
Politics aside, many potential buyers and investors have been wondering how the Chicago housing market will react to a Trump presidency. In his latest statement on Chicago, Trump noted that if the city could not solve the “carnage,” “I will send in the feds!”. To prospective buyers and investors from out of state and abroad, this unfairly shines a negative spotlight on what is, for the most part, a safe and prosperous city with a historically stable housing market. Investors from abroad and out of state are particularly important to Chicago according to Business Insider, who notes that “A 2016 study by the National Association of Realtors found that international buyers typically purchase more expensive properties”. This outside investment ensures a stable housing market and consistent new investment, something Trump’s comments could jeopardize.
Hasani Steele challenges Trump’s statement exclaiming, “the carnage of Chicago is isolated. It causes a polarizing view of the city to consumers and forces them to talk to experts and form their own opinions. Steele Consulting Group has always helped people overcome these fears and the negative portrayal of the South Side because we understand that the conflict is present only for specific reasons and only in certain blocks of the city. This is something that residents of the South Side have always understood”.
However, these fears are merely speculation and are being largely offset by optimistic expert opinions. According to Market Watch, a Trump presidency may actually benefit the housing market. Rick Sharga, executive vice president of Ten-X, a real-estate auction site, notes, “I don’t believe that there will be any significant changes to interest rates, at least in the near term, since the underlying fundamentals that have led us into a low-interest-rate environment haven’t changed. He seems committed to bringing regulatory relief — and regulatory certainty — to the financial-services industry, which should make more credit more available to average home buyers who have been locked out of the market by today’s extraordinarily tight credit standards. This is absolutely a seller’s market and has been for quite some time, and we do not feel Donald Trump’s win will negatively affect the market for those looking to sell”. If Sharga is correct, now is an excellent time to sell and invest in Chicago real estate, and Steele Consulting Group has expert insider knowledge of the current Chicago market.
Hasani sees both sides of the coin but remains optimistic, exclaiming, “looking at the market from a broader perspective, typically a fiscally conservative administration like the Trump administration is better for the housing market as a whole because of fewer regulations. I am always cautious of rapid growth, however, because rapid growth fuels a housing bubble and an unsustainable market. Gradual growth is better in the long run for the overall market”.
“Based on Zillow’s survey of more than 100 economic and housing experts, the company thinks home values nationally will grow 3.6 percent in 2017” – Zillow
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