When Republican candidate Donald Trump was elected president last week, experts and analysts in all fields pondered what the near and distant future would entail.
For homebuying, Trump moving into the White House probably won’t affect millions of Americans moving into a new house. Jonathan Smoke, the chief economist of Realtor.com, writes that “two massive demographic waves that will power above-average demand for homes for at least the next 10 years.”
Millennials and Baby Boomers will be entering a stage in life where purchasing a new home is a top goal. They are tired of current homes, they need more space for additional family members, and they want to take advantage of favorable home prices.
Net, net, I’m optimistic about the country’s economic prospects under President Trump—as I would have been under a President Clinton. Millennials and boomers will still be buying homes regardless of what happens.