Election and Real Estate

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It’s November 3rd and the elections are over.  How will the results effect the Las Vegas Real Estate market?Of course, the answer to that questions probably depends on who you ask, what you believe, and who you voted for.  With the results we have in, it is clear the Senate will be held by the Democrats, while the House overwhelmingly went Republican.  Traditionally, Republican control has garnered less restraints on lending and sometimes the red tape that holds things up.  This may lead to a faster release of the properties that have been foreclosed on which may cause a drop in prices for a short period of time, but may end the housing crises a little quicker.  Democratic control has tended to slow the process causing a trickling of foreclosed property to hit the Las Vegas housing market.  This may lesson the impact of the crises in the short term, but is likely to extend the length of our troubles.

So, what about a split government?  Will the put their partisanship aside and work to use the best of both worlds and give consumers a chance to recover from the last 6 or so years?  Let’s get real, this is the government we are talking about.  Splitting the government may have been the worst of the three possible outcomes.  Now, instead of being able to forge ahead with one plan, right or left, we will have 2 years of ‘discussion’ over whose plan is going to work to best benefit the American people.  Yeah! We won!