{"id":126030,"date":"2024-11-15T06:47:25","date_gmt":"2024-11-14T23:47:25","guid":{"rendered":"https:\/\/hotvideos24.online\/?p=126030"},"modified":"2024-11-15T06:47:25","modified_gmt":"2024-11-14T23:47:25","slug":"top-real-estate-ceo-suggests-young-people-voted-for-trump-because-theyre-sick-of-living-in-their-parents-basements","status":"publish","type":"post","link":"https:\/\/hotvideos24.online\/?p=126030","title":{"rendered":"Top real-estate CEO suggests young people voted for Trump because they\u2019re sick of living in their parents\u2019 basements"},"content":{"rendered":"<p> <script async src=\"https:\/\/pagead2.googlesyndication.com\/pagead\/js\/adsbygoogle.js?client=ca-pub-3711241968723425\"\r\n     crossorigin=\"anonymous\"><\/script>\r\n<ins class=\"adsbygoogle\"\r\n     style=\"display:block\"\r\n     data-ad-format=\"fluid\"\r\n     data-ad-layout-key=\"-fb+5w+4e-db+86\"\r\n     data-ad-client=\"ca-pub-3711241968723425\"\r\n     data-ad-slot=\"7910942971\"><\/ins>\r\n<script>\r\n     (adsbygoogle = window.adsbygoogle || []).push({});\r\n<\/script><br \/>\n<\/p>\n<p>Donald Trump will be president <a href=\"https:\/\/fortune.com\/2024\/11\/06\/trump-tariffs-trade-taxes-economy\/\" target=\"_self\" class=\"sc-93594058-0 fowfrQ  \" aria-label=\"Go to https:\/\/fortune.com\/2024\/11\/06\/trump-tariffs-trade-taxes-economy\/\" rel=\"noopener\">once again<\/a>, having convinced voters he was the man to solve it all: the economy, inflation, housing, and more. But come January, Trump has some promises to keep, promises that may have attracted a certain kind of voter.\u00a0<\/p>\n<div>\n<p>\u201cThe young voters who, after years living in their parents\u2019 basement, swung right in this election, will expect President Trump to act as America\u2019s real estate developer in chief, and build the housing that they need,\u201d Redfin chief executive Glenn Kelman wrote Wednesday in <a href=\"https:\/\/www.redfin.com\/news\/what-trump-reelection-could-mean-for-housing\/\" target=\"_blank\" class=\"sc-93594058-0 fowfrQ  \" aria-label=\"Go to https:\/\/www.redfin.com\/news\/what-trump-reelection-could-mean-for-housing\/\" rel=\"noopener\">a note<\/a> titled: \u201cWay-Too-Early Take: What Trump\u2019s Re-Election Could Mean for Housing.\u201d<\/p>\n<p>In <a href=\"https:\/\/fortune.com\/2024\/04\/17\/housing-market-economy-booming-housing-recession-redfin-ceo\/\" target=\"_self\" class=\"sc-93594058-0 fowfrQ  \" aria-label=\"Go to https:\/\/fortune.com\/2024\/04\/17\/housing-market-economy-booming-housing-recession-redfin-ceo\/\" rel=\"noopener\">a prior interview<\/a>, Kelman told me, \u201cBiden\u2019s basic problem with millennials is how optimistic can you be about the economy from your parents\u2019 basement?\u201d That was, of course, before President Joe Biden dropped out of this year\u2019s race, before Vice President Kamala Harris became the Democratic Party\u2019s candidate, and before Trump won it all.\u00a0<\/p>\n<p>Home prices soared during the pandemic because people could work and live from anywhere, and <a href=\"https:\/\/fred.stlouisfed.org\/series\/MORTGAGE30US\" target=\"_blank\" class=\"sc-93594058-0 fowfrQ  \" aria-label=\"Go to https:\/\/fred.stlouisfed.org\/series\/MORTGAGE30US\" rel=\"noopener\">mortgage rates<\/a> were lower than they\u2019d ever been. When inflation became a real hot problem, the Federal Reserve raised interest rates, indirectly lifting mortgage rates. Americans were left with high home prices and high mortgage rates\u2014and still are, to an extent. Some people can\u2019t buy homes, and others won\u2019t sell them and lose their low mortgage rate: That\u2019s why sales are depressed. Also, after years of underbuilding\u2014and in some cases, <a href=\"https:\/\/fortune.com\/2023\/12\/16\/california-housing-crisis-policy-failure-threaten-rest-of-the-country\/\" target=\"_self\" class=\"sc-93594058-0 fowfrQ  \" aria-label=\"Go to https:\/\/fortune.com\/2023\/12\/16\/california-housing-crisis-policy-failure-threaten-rest-of-the-country\/\" rel=\"noopener\">decades of policy failure<\/a>\u2014there aren\u2019t enough homes to go around.\u00a0<\/p>\n<p>But Trump can maybe fix that, according to Kelman, by \u201csetting aside well-meaning regulations on home-building that limit construction and make housing less affordable,\u201d he said, partly referring to \u201cenvironmental reviews in already well-settled areas, and limits on apartment buildings in neighborhoods of single-family homes.\u201d<\/p>\n<p>It isn\u2019t up to the federal government, though; it\u2019s all up to states and localities, who pretty much control development via land-use regulations, but Trump could create incentives for them to get housing built. \u201cMany of America\u2019s problems are hard to solve, but this one isn\u2019t, especially for a president who loves construction,\u201d Kelman said. Trump was once a real-estate scion, after all.\u00a0\u00a0<\/p>\n<p>So far, in the week since the former president has become the president-elect, demand in the housing world has leaped by one measure: Demand from home-buyers requesting service through Redfin\u2019s site was about 25% higher this weekend than the same weekend last year, the largest year-over-year jump since things started to go south two years ago. \u201cSome buyers are undoubtedly enthusiastic about a Trump economy; others may have been waiting to make major decisions until after the election,\u201d Kelman said.\u00a0<\/p>\n<p>Mortgage rates, which had been falling for a bit on chatter of a Fed cut, rose in anticipation of another Trump presidency. Before the election, two prominent economists <a href=\"https:\/\/fortune.com\/2024\/11\/01\/donald-trump-mortgage-rates-harris-inflation-election\/\" target=\"_self\" class=\"sc-93594058-0 fowfrQ  \" aria-label=\"Go to https:\/\/fortune.com\/2024\/11\/01\/donald-trump-mortgage-rates-harris-inflation-election\/\" rel=\"noopener\">told me<\/a> the \u201cTrump trade\u201d was sending mortgage rates soaring. Kelman echoed that in his note, saying higher tariffs, and therefore higher consumer prices associated with Trump, were being priced in. Mortgage rates higher than what people had become accustomed to pushed the housing market to a standstill, one that saw existing home sales fall to their <a href=\"https:\/\/fortune.com\/2024\/01\/19\/housing-market-2023-existing-home-sales-lowest-since-1995\/\" target=\"_self\" class=\"sc-93594058-0 fowfrQ  \" aria-label=\"Go to https:\/\/fortune.com\/2024\/01\/19\/housing-market-2023-existing-home-sales-lowest-since-1995\/\" rel=\"noopener\">lowest point<\/a> in almost three decades last year\u2014and potentially another historical low this year.\u00a0<\/p>\n<p>On the other hand, it is way too early to tell if demand is better under Trump 2.0 as mortgage rates are still elevated. But the \u201cbizarre pairing could set up a major challenge for a president elected to beat inflation,\u201d he said. It seems home prices would only continue to rise, as they have done, even if it\u2019s at a slower pace. Fed chair Jerome Powell has already admitted that housing is <a href=\"https:\/\/fortune.com\/2024\/09\/19\/jerome-powell-fed-cant-fix-housing-crisis-mortgage-rates\/\" target=\"_self\" class=\"sc-93594058-0 fowfrQ  \" aria-label=\"Go to https:\/\/fortune.com\/2024\/09\/19\/jerome-powell-fed-cant-fix-housing-crisis-mortgage-rates\/\" rel=\"noopener\">not something the central bank can fix<\/a>.<\/p>\n<p>Home prices almost never fall. You can only pinpoint two eras in our recent history when home prices declined: a short-lived recession in the early 90s, and the Great Financial Crisis of the early 2000s, as I <a href=\"https:\/\/fortune.com\/2024\/09\/13\/will-home-prices-go-down\/\" target=\"_self\" class=\"sc-93594058-0 fowfrQ  \" aria-label=\"Go to https:\/\/fortune.com\/2024\/09\/13\/will-home-prices-go-down\/\" rel=\"noopener\">previously wrote<\/a>. This time around, we\u2019re missing millions of homes, and that\u2019s keeping prices from dropping\u2014not to mention, our 30-year fixed mortgage keeps everyone with a low interest rate <a href=\"https:\/\/fortune.com\/2024\/06\/17\/lock-in-effect-mortgage-rates-interest-housing-market\/\" target=\"_self\" class=\"sc-93594058-0 fowfrQ  \" aria-label=\"Go to https:\/\/fortune.com\/2024\/06\/17\/lock-in-effect-mortgage-rates-interest-housing-market\/\" rel=\"noopener\">locked-in<\/a>, exacerbating our very prevalent supply problem and, again, keeping prices high.\u00a0<\/p>\n<p>We\u2019ll see what another Trump presidency means for the housing world soon. In the meantime, we know his <a href=\"https:\/\/fortune.com\/2024\/08\/21\/donald-trump-kamala-harris-housing-policy-comparison\/\" target=\"_self\" class=\"sc-93594058-0 fowfrQ  \" aria-label=\"Go to https:\/\/fortune.com\/2024\/08\/21\/donald-trump-kamala-harris-housing-policy-comparison\/\" rel=\"noopener\">housing policy<\/a> revolves around mass deportation of illegal immigrants and either deregulation or more regulation (he has hinted at both on different occasions).\u00a0<\/p>\n<\/div>\n<div data-cy=\"subscriptionPlea\"><b>How many degrees of separation are you from the globe&#8217;s most powerful business leaders? <\/b>Explore who made our brand-new list of the <a href=\"https:\/\/fortune.com\/ranking\/most-powerful-people\/?&amp;itm_source=fortune&amp;itm_medium=article_tout\" target=\"_self\" class=\"sc-93594058-0 fowfrQ  \" aria-label=\"Go to https:\/\/fortune.com\/ranking\/most-powerful-people\/?&amp;itm_source=fortune&amp;itm_medium=article_tout\" rel=\"noopener\">100 Most Powerful People in Business<\/a>. Plus, learn about the metrics we used to make it.<\/div>\n<p><script async src=\"https:\/\/pagead2.googlesyndication.com\/pagead\/js\/adsbygoogle.js?client=ca-pub-3711241968723425\"\r\n     crossorigin=\"anonymous\"><\/script>\r\n<ins class=\"adsbygoogle\"\r\n     style=\"display:block\"\r\n     data-ad-format=\"fluid\"\r\n     data-ad-layout-key=\"-fb+5w+4e-db+86\"\r\n     data-ad-client=\"ca-pub-3711241968723425\"\r\n     data-ad-slot=\"7910942971\"><\/ins>\r\n<script>\r\n     (adsbygoogle = window.adsbygoogle || []).push({});\r\n<\/script><br \/>\n<br \/><div data-type=\"_mgwidget\" data-widget-id=\"1660802\">\r\n<\/div>\r\n<script>(function(w,q){w[q]=w[q]||[];w[q].push([\"_mgc.load\"])})(window,\"_mgq\");\r\n<\/script>\r\n<br \/>\n<br \/><a href=\"https:\/\/fortune.com\/2024\/11\/14\/housing-market-election-trump-redfin-ceo\/\">Source link <\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Donald Trump will be president once again, having convinced voters he was the man to solve it all: the economy, inflation, housing, and more. But come January, Trump has some &hellip; <a href=\"https:\/\/hotvideos24.online\/?p=126030\" class=\"more-link\">Read More<\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5],"tags":[],"class_list":["post-126030","post","type-post","status-publish","format-standard","hentry","category-business","entry"],"_links":{"self":[{"href":"https:\/\/hotvideos24.online\/index.php?rest_route=\/wp\/v2\/posts\/126030","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/hotvideos24.online\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/hotvideos24.online\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/hotvideos24.online\/index.php?rest_route=\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/hotvideos24.online\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=126030"}],"version-history":[{"count":0,"href":"https:\/\/hotvideos24.online\/index.php?rest_route=\/wp\/v2\/posts\/126030\/revisions"}],"wp:attachment":[{"href":"https:\/\/hotvideos24.online\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=126030"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/hotvideos24.online\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=126030"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/hotvideos24.online\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=126030"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}