How Will Joe Biden as US President Affect Real Estate
184 Replies
Wale Lawal
Realtor | Buy & Hold Investor from Houston, TX
posted 3 months ago
I will like to know how you guys think his administration will affect Real Estate and Investors.
I have listened to diverse opinion on this from folks that are not investing in Real Estate but I will like to hear from Investors and Real Estate Professionals.
As a Real Estate Agent and Investor from Houston Texas, I have received calls from clients seating on the fence to see who win the election.
How will this affect the General Buying and Selling of Real Estate?
Do you think Joe Bidden will save foreclosures in 2021?
Do you see any big changes in the next few months?
Should New and Experience Investors buy if the number works of wait for few months to see how his policies will affect Real Estate?
Please support your opinion with facts if possible. Appreciate your meaningful contributions.
Thank you
Updated 3 months ago
Joe Biden I meant. Pardon my typo. Thank you
Updated 3 months ago
Joe Biden I meant. Pardon my typo. Thank you
Theresa Harris
replied 3 months ago
I doubt it will be different than with Obama. The biggest problem regardless of who is in charge will be covid.
Derrick Dill
Investor from Hawaiian Gardens, California
replied 3 months ago
Will most likely bring back state and local tax deductions (SALT, property tax deductions) that were taken away
Guy Gimenez
Investor from Corpus Christi, TX
replied 3 months ago
Increased cap. gains tax and higher taxes on all other aspects of our lives. And no, it won't be just on those making over $400K.
Darius Ogloza
Investor from Marin County California
replied 3 months ago
The real action is in the Senate. Assuming Tillis wins in North Carolina, the Republicans will need to win one of the Georgia run-offs (Perdue or Loeffler) in January to control the Senate. If they achieve control, you will likely see few if any changes affecting real estate investors for at least the next two years.
Travis M.
replied 3 months ago
I think the Democrat’s self stated goal of printing as much money as possible will do what we have already seen - increase the value of assets.
Tchaka Owen
Real Estate Agent from Merritt Island, FL
replied 3 months ago
To the level that the vast majority of us operate, you will not see any real change. Biden (just one 'n') has a lot more on his plate than to worry about our segment of real estate. To be fair, I cannot think of any modern President who had a profound difference on real estate investing. So Capital Gains rate goes up a little or down a little or perhaps lending tightens or loosens a bit....so what? Will that make anyone say, "I'm never investing again!"? No. Keep doing what you're doing and don't sweat it.
Mike Dymski
Investor from Greenville, SC
replied 3 months ago
Focus on deal flow and your criteria. Everything else is noise.
Wale Lawal
Realtor | Buy & Hold Investor from Houston, TX
replied 3 months ago
Originally posted by @Theresa Harris :I doubt it will be different than with Obama. The biggest problem regardless of who is in charge will be covid.
I completely agree with you. COVID is a world pandemic and it's killing the world economy.
I am not sure how long the fed can continue to print money to help the economy though. I guess time will tell.
Wale Lawal
Realtor | Buy & Hold Investor from Houston, TX
replied 3 months ago
Originally posted by @Derrick Dill :Will most likely bring back state and local tax deductions (SALT, property tax deductions) that were taken away
This will still be subject to debates on what the majority want.
Wale Lawal
Realtor | Buy & Hold Investor from Houston, TX
replied 3 months ago
Originally posted by @Darius Ogloza :The real action is in the Senate. Assuming Tillis wins in North Carolina, the Republicans will need to win one of the Georgia run-offs (Perdue or Loeffler) in January to control the Senate. If they achieve control, you will likely see few if any changes affecting real estate investors for at least the next two years.
I completely agree with you Senate plays a big role in our economy.
Wale Lawal
Realtor | Buy & Hold Investor from Houston, TX
replied 3 months ago
Originally posted by @Tchaka Owen :To the level that the vast majority of us operate, you will not see any real change. Biden (just one 'n') has a lot more on his plate than to worry about our segment of real estate. To be fair, I cannot think of any modern President who had a profound difference on real estate investing. So Capital Gains rate goes up a little or down a little or perhaps lending tightens or loosens a bit....so what? Will that make anyone say, "I'm never investing again!"? No. Keep doing what you're doing and don't sweat it.
Great point my friend. I guess time will tell. Of course, I am not slowing down at all. I have just seen some people that have been using this as a flimsy excuse not to start investing in Real Estate.
They keep saying AFTER ELECTION I WILL START.
Wale Lawal
Realtor | Buy & Hold Investor from Houston, TX
replied 3 months ago
Originally posted by @Mike Dymski :Focus on deal flow and your criteria. Everything else is noise.
100% makes sense.
Consistent deal flow is the KEY, everything else is a LOUD NOISE.
Thanks Buddy.
Darius Ogloza
Investor from Marin County California
replied 3 months ago
Biden HAS announced that he is going to end the 1031 exchange and the basis step up for inheritances. Changes to those tax laws will have profound impacts on many real estate investors as it will kill deal flow. A lot depends on Georgia.
Sarah Kartsher
Accountant from Grove City, OH
replied 3 months ago
The administration's affect on real estate will depend the unemployment rate and businesses shutting their doors due to COVID. I personally don't see much of a price decrease for homes in 2021. It takes a LONG time for homes to decrease in value. Its not a stock. Look at 2008-2015. Housing market started massive foreclosures in 2007 but the housing market didn't hit rock bottom prices unit 2015 in most areas.
Mark McClure
Rental Property Investor from Jacksonville, FL
replied 3 months ago
@Guy Gimenez and he will take away the 1031 exchange. Also heard he wants to add a federal sales tax on all home sales. Not sure if its gunna fly tho.
Dan Bass
from Kansas City, KS
replied 3 months ago
@Wale Lawal tough to say. As a Trump supporter I will try to keep my response without emotion.
Biden has stated he wants to rid 1031 which directly impacts RE investment.
Biden has said he will listen to scientists and will shut down the economy if they say to do so.
Who knows how he would respond to rent moratoriums and mortgage moratoriums.
Interest rates will stay low per the Fed.
His side of the isles policies would favor the tenant overall so that could be nationwide or per state.
The Senate is our saving grace in hopes it stays red.
Wale Lawal
Realtor | Buy & Hold Investor from Houston, TX
replied 3 months ago
@Dan Bass Great to read your opinion.
The 1031 Exchange is a big one and I hope he re-think in plan on that one.
The Senate definitely has a role to play.
I will just keep my fingers crossed and see how it all plays out in the next few months
Erik B.
Rental Property Investor from Amityville, NY
replied 3 months ago
A lot will depend on if Covid just vanishes in weeks after biden takes office. There will be no more need to politicize it anymore and the media will move on to different topics unless they will be pushing for major vaccine revenue and then there is the possibility of the economy getting shut down again.
Lina Bibikov
Flipper/Rehabber from Danville KY
replied 3 months ago
@Wale Lawal It will be interesting to watch what happens with the rental market as government tries to prevent evictions. Also Biden says he’s trying to increase affordable housing, so he will have to work with investors in order to do that!
Lynnette E.
Rental Property Investor from Tennessee
replied 3 months ago
Originally posted by @Erik B. :A lot will depend on if Covid just vanishes in weeks after biden takes office. There will be no more need to politicize it anymore and the media will move on to different topics unless they will be pushing for major vaccine revenue and then there is the possibility of the economy getting shut down again.
I think they messed up the demand for the vaccine when they started saying that even if you had COVID that you can get it again because the immunity does not seem to last. So if that is true, then why would a vaccine work better? Plus people just do not trust those pushing vaccines along through the process.
So if the big pharms want to sell more vaccines than the government already purchased they will have to scare or try to force people to do it. They have the power to shut down the government again. Heck, Biden may not even remember it was already shut down. Well, at least we won't have to hear, "I shut down the government. It was a big, very big, shut down. The greatest shutdown ever...."