While 2020 has been a crazy year one industry that was saved was real estate. There are so many extenuating circumstances that are affecting our markets. We see everything from the work at home tech movement to the person taking advantage of low interest rates. No matter what the reason the truth is real estate is busy and prices are climbing. The real question is what changes are in store with Joe Biden’s possible future presidency.

With COVID-19 and everything that has happened this year it is hard to deny we are on an upward trajectory in very tough times. The upcoming winter will have long lasting effects on all our lives. If we do go into a full lock down typically real estate still trades, understanding that there is no pause button on life. Just like eating food we need housing as humans. The questionable thing is who can afford to buy in those times. Well it seems no matter who runs the ship they will need to stimulate the economy to keep the country on the good course it is on. I believe the place they will work to keep stimulated is the real estate world. 

Real estate is a major job and growth provider for the country and something everyone needs is a place to live. When people buy homes they spend all sorts of money on goods and services for their homes. Joe and Donald may not be able to agree often but they both understand the critical need for affordable housing. The only difference is their opinion of how to get it done. No matter what I think a needed stimulus will continue to happen. 

2021 is going to be a great year in residential real estate and a tough year for some segments of commercial. Industrial warehousing space is on the rise with the constant growth of E-commerce. Interest rates will be no more than high threes but more likely in the high 2’s. If you are thinking of buying, selling, or getting into real estate reach out to us. Please make sure to check out our Podcast, Facebook Group, and Newsletter called Homeownership. If you have any questions or comments please leave them below.