Ready or not the Donald is our next president. How was this possible you may ask? I think a series of media dismissal, a deep rooted need for an economic turn-around and a feeling that government is getting out of control, all conspired to keep Donald Trump on the short list. There were whispers from the Trump campaign that there was a legion of closet supporters. They would not admit supporting Trump in polite company, but would vote Trump on election day. So now we have probably the most famous real estate investor siting in the White House.
Since Mr. Trump has spent his entire adult life in some form of real estate investment, I think it is safe to say that there will be considerable impact in the real estate market overall. It would be outstanding to see an incentive package created for those struggling to invest in property, reversing an increasing trend to limit access to the market by increasing fee’s, down payments and other restrictive terms. Helping those who could manage properties effectively instead of bailing out those who could not, might be a better stimulus moving forward. Couple this with an economic plan to reverse the job drain and corporate tax accountability and we may have a brighter future then we think. Say what you might about Mr. Trumps overall character, he is prone to taking on tasks with the goal of completing them on time and under budget.
My rental properties have been geared toward middle class 40-60K income earners. The units are all above average and in the past I had no problems filling each unit with a suitable rental party. In the past few years the middle class applicants have all but disappeared. Down sized incomes, under-employment and applicants with a heavy debt load have all conspired to thin out the perspective ‘perfect’ rental applicants. I would love to return to the days that I had multiple great applicants to pick from, when one of my units became vacant.
I had neither front runners bumper stickers on my car, my guy bailed a few months back. I feel a little discomfort when the person in charge of our nuclear arsenal can’t even pronounce nuclear correctly. I hope the next president will not suffer from verbal diarrhea and is truly committed to serving the needs of all Americans. We all have personal hopes and dreams for the way this country is heading in the near future and collectively they can’t all be realized. I just don’t want to see a future America that looks back fondly on its glory days…