In somewhat ironic news, real-estate-magnate-turned-presidential-hopeful Donald Trump would be bad for the housing market if he won the election, according to a new report. The same goes for a potential President Bernie Sanders.
Zillow, a real estate company, and Pulsenomics, an economics research firm, surveyed more than 100 housing experts on how the presidential candidates would affect the housing market if elected. The consensus was that a President Trump or President Sanders would negatively impact home value forecasts, housing finance reform and the U.S. economic outlook overall.
Pulsenomics questioned 107 experts between April 25 and May 5, a period in which Sen. Ted Cruz (R-Texas) and Gov. John Kasich (R-Ohio) suspended their campaigns for the White House. Still, the economists considered what both candidates could have done for the housing market and came to the conclusion that, had either been elected president, Cruz would have had a negative effect and Kasich a positive one.
With Kasich, economists’ most favored candidate, out of the race, the presidential hopeful with the next-best economic outlook was Hillary Clinton. The panelists generally viewed a Clinton presidency as one that would positively affect forecasted home values and housing finance reform, and have a neutral impact on the economy overall.
The report didn’t offer much detail on the reasons for the economists’ assessments, nor did it explain how the economists were selected for the survey.
“The results from this survey show us that, from these economists’ standpoint, the more centrist candidates from either party would be best for the economy and housing market,” Svenja Gudell, Zillow chief economist, said in a press release. “Respondents saw the more polarizing political leanings of Donald Trump and Sen. Sanders as having a negative effect.”
Some panelists said Trump’s “inconsistency on policy, unpredictability as a candidate and lack of political experience” drove them to say he’d negatively impact the housing market as president. Panelists looked even less favorably on Sanders, whom 59% believed would somewhat or very negatively influence home value forecasts. (Forty-nine percent said the same of Trump, and 29% felt that way about Clinton.)
Election years always bring on feelings of uncertainty, which is why homeowners should keep tabs on their estimated home value, no matter who’s running the country. Home value can affect your property tax bill, which in turn can impact your housing budget, your ability to pay back your mortgage, and your credit score. (You can view your free credit report summary, updated monthly, on Credit.com. And, if your credit is in rough shape, you can potentially improve your score by disputing errors on your credit report, paying down high credit card balances and limiting inquiries in the short-term.)
Property value is also important to monitor if you consider selling your home — and plan a move to Canada in November.
More on Mortgages & Homebuying:
- Why You Should Check Your Credit Before Buying a Home
- How to Find & Choose a Mortgage Lender
- How to Refinance Your Home Loan With Bad Credit