By the time you read this the mid-term elections will have been decided. The people have spoken and we will all live with the verdict whether we agree or not. That is what we do in a democracy. The question remaining is how it will affect our lives, our businesses, our investments and our fortunes. I remember when we watched the election of Jimmy Carter as the 39th president of the United States and how I was surrounded that night in 1977 by friends from Georgia who were elated and how my hopes had been dashed followed by a mild but short depression. As it turned out I was right- they were wrong but we all survived those years. I am confident we will do the same this time regardless of the outcome.
How this election will affect real estate values and the broader real estate market is the bigger question? We have grown use to a booming economy over the past 2 years and many have grown complacent and forgot the lost jobs, stagnant wages, closed factories re-opening overseas, the cost of illegal emigration and the suffocating regulations. One of the truly adverse effects of this economy and resulting stock market boom has been individuals reluctant to take money out of the market and buy homes or invest in other forms of real estate. However as we see the stock market continue to experience wildly fluctuating swings that will quickly change.
As one stock broker recently told me remember the market is fickle and often irrational in what it does. After many years watching the real estate market I have seen many fortunes made and unlike the stock market, few fortunes lost. This is why I am betting that whichever way the wind blows in this election the stock market will react with continued ups and downs and the real estate market will continue to be a stable and dependable alternative.
ON THE LOCAL SCENE
The 12 acres fronting HARVESTER DRIVE, MONROE has been sold for $100,000 to an out of town investor with plans for a subsidized subdivision. The property sold for $8,333 per acre.
The former UNITED HOME HEALTH BUILDING 213 Expo Circle, West Monroe sold for $1,750,000. The 16,000sf building sold for $109 psf.
***PUBLISHED in the Ouachita Citizen on November 8, 2018***