For the past several months, one of the big questions surrounding the future of real estate in America was who would be elected. Well, now we have our answer. So, what does this mean? Jeff Kolko, Chief Economist with Trulia put out a fantastic article discussing different areas that home buyers and home owners should be aware of. Here are some of the key points:
- There is still a big push to help people refinance their homes at low interest rates (which also helps potential home buyers). Lower payments means more money for home owners to spend on other things, which helps drive the economy.
- We can expect new mortgage regulations from the Consumer Financial Protection Bureau created by Frank-Dodd. There is still uncertainty as to what those will be, so stay tuned!
- Mortgage Interest Deductions remain.
Click here for the full article from Trulia!