The morning after the election, our inbox was filled with inquiries from foreign investors, second home buyers and international clients, inquiring as to what the impact of the election of Trump as the 45th President of the United States might have on Real Estate Trends.
We wanted to share one email … along with our thoughts in response”
“Dear Vicki and Alexandra, Finally America has elected and has chosen the 45th President of America.
It was an amazing election that the whole world has followed and has held their breath.
We also have followed closely the American polls till the end and we witnessed the result very early in the morning in Asia.
We don’t know if it is good to have Donald Trump as a President but what we can say is that we wish America all the Best
It’s time to show to everybody the end of the establishment and the it’s legacy.
We hope the economy of America will be maintained, with stability and growth. God bless America!
We would also be grateful if you could give us your opinion about the consequences for the real estate in Miami. What trends do you foresee and expect?”
Our thoughts in response:
“While the stock markets reeled on election night with the uncertainty of change and the surprising election results, that bauble or drop was due in part to “nerves” of the unknown …
What the more “long term” impact will be, we will have to wait and see … over time.
Change could well prove to be a good thing. Real estate tends to be consistent, and generally follows a basic pattern of rises and falls.
We will likely see some wobbles and concerns in the condo markets in three particular areas of Miami: Miami Beach, Downtown Miami and in the Brickell area… due though primarily to/and because of the fact that there is a vast amount of new construction projected for those areas, both pre-construction and currently under construction … And that is something that will continue over the many months (and years). For the most part, real estate is historically one of the safest and strongest long-term investments.
The country seems to be accepting the results of the election … and the genuine heartfelt personal acceptance, concession and olive branch speeches from Trump, Clinton, and Obama seem to have had a calming and unifying effect on the country as a whole. I (and the world news!) will update you with any perceived changes … I firmly believe that the elections will, in no way, deter investors and second home buyers from continuing to invest in Miami. Miami has long been a desired destination, and the global economy will continue to see South Florida that way. I am optimistic and hopeful about the real estate market.
Regards, Vicki Restivo and Alexandra Hechtman – EWM Realty International – RestivoMiami@gmail.com -MiamiRealEstateCafe.com”