Thursday, October 21, 2004

Is the real estate market influenced by politics?

According to Nathan Kelly, an assistant professor of political science at the University at Buffalo, YES! He says buyers are influenced by the political signs they see in a neighborhood, feeling that political views are a sign of similar values.

An article in CNN online details how signs posted in a neighborhood have had an affect on buyer's decisions. Of course, other buyers don't care. But it is an interesting premise, none the less.

It is our feeling that the election has contributed to the slow down in our market. Consciously or not, buyers may be waiting to see the outcome of the election, then will use their judgment to guess what that affect that outcome will have on interest rates and the housing market. Then, a buyer will either jump back in and buy, or may decide that they should wait based on who is elected.

To read the online article, go here.

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