The housing market was pretty much ignored by both major party campaigns. Still, our local and national housing affordability crisis personally affects a large number of voters, and we are all affected in one way or another by home and rental prices.
Because the candidates (at least on the national scale) did not address affordable housing during the campaigns, we really do not know what will happen with a new president. We do know that the Republican platform has mentioned repealing the Dodd-Frank Act and deregulation. The deregulation seems to be by boosting demand side policies such as financial deregulation, which could help if mortgage standards for first-time and credit-challenged buyers are eased. Easing credit standards could be really helpful to millennial homebuyers, many of whom are currently making timely rent payments that are more than they would be paying for a mortgage, yet they are unable to qualify for a loan due to certain credit standards.
The real estate industry is concerned that only the demand side is being addressed without really addressing supply. In housing, it is important to address both sides, as easing the demand side only can create a spike in prices. Many parts of the country, including our local market, have experienced the effects of high demand and low supply.
One piece of good news is that the expected December rate hike by the Federal Reserve will likely not happen—at least that seems to be the consensus of most mortgage and real estate bloggers.
Housing Round-Up
« LOW
63260 Wishing Well Ln., Bend, OR 97701
3 beds, 2 baths, 1,006 square feet, .16 acre lot
Built in 1994
$245,000
Listed by Harcourts The Garner Group Real Estate
« MID
20564 Jacklight Ln., Bend, OR 97702
3 beds, 2.5 baths, 2,305 square feet, .13 acre lot
Built in 2005
$365,000
Listed by Bend Premier Real Estate
« HIGH
2618 NW Three Sisters Dr., Bend, OR 97703
3 beds, 3 baths, 3,275 square feet, 1.33 acre lot
Built in 1996
$887,000
Listed by Strategic Realty LLC
