The Dealmaker: 11/10/2016

Industry experts forecast economy and housing market under Trump.  Redfin’s Chief Economist Nela Richardson, Realtor.com’s Jonathan Smoke, Trulia’s Ralph McLaughlin, Windermere’s Chief Economist Matthew Gardner and others — see what they have to say to Inman in the wake of the election “shockwave [that] resonated around the world,” and if there’s any reason for freaking out. In a RELATED Wall Street Journal piece: ‘YOU’RE FIRED… UP!’ – Donald Trump’s plans fire up construction stocks. “[E]lection-night focus on boosting spending on domestic infrastructure drove a rally in construction-related stocks Wednesday…” Access both reports here—> http://bit.ly/2fohmU2

Worst day for mortgage rates in more than 3 years.“Over the past decade, you can count single-day eighth-point moves without using any toes. Some lenders were a quarter point higher, which has only happened a few times, ever. The source of the drama is the market’s paradoxical reaction to Trump’s victory.” Best-Execution Rates, Ongoing Lock/Float Considerations, plus Loan Originators talk about being blindsided by the Trump victory, and whether or not “the broader uptrend in rates will continue” — in Mortgage News Daily. http://bit.ly/2foh5Rf

What’s hampering buyer, seller confidence. “[T]he net share of consumers expecting home prices to rise in the next year decreased… Americans who say mortgage rates will drop and those who are confident about not losing their job both showed decreases…” More on these and the other recent “findings from Fannie Mae’s HPSI,” at REALTORMag—> http://bit.ly/2g1o9H3

Young, first-time home buyers will drive 2017 existing-home sales.“[B]ut,” according to this MarketWatch report featuring forecasts from NAR’s chief economist, Lawrence Yun, “a shortage of new entry-level homes will keep inventory tight and prices high…” Further details here: http://bit.ly/2eNT5IS

Dealmaker Continuing Election Coverage:

DITCHING: SCHOOL, TRUMP – Protests, other reactions to Tuesday’s election. AZCentral reports on the “[h]undreds of Phoenix high school students [who] walked out of class Wednesday to protest the election of Republican President-elect Donald Trump, [and the] thousands of students in California, Colorado, Washington and Iowa who did the same.” http://bit.ly/2fFuiWz

Maricopa County Recorder Helen Purcell staying close to challenger.Head to KTAR to the latest returns from her race against Democratic challenger, Adrian Fontes. http://bit.ly/2fonoUE

Pinal County Sheriff Paul Babeu mum on plans after leaving office.“While Babeu doesn’t know — or isn’t saying — what his plans are [after losing a congressional bid and leaving office as sheriff], he would seem to have some options.” See what those options are, here: http://bit.ly/2fAK18W

Arizona AG to investigate spending by minimum-wage advocates Yes on 206. “[The] complaint [alleges Yes on 206] illegally spent money campaigning for and against specific legislative candidates as well as supporting Prop. 206.” But is “a ballot measure committee [limited to] spend[ing] money [only] on that ballot measure and [not] on candidates”? Click through to AZCentral to see what both sides have to say, and to find out how much it could cost Yes on 206 if it, in fact, it did violate a law. (Hint: Under the state’s new minimum, Yes on 206 would have to work 10,000 hours to come up with enough to pay the fine.] http://bit.ly/2fARaX7

Giant desert development on hold in Arizona. “In a narrowly defined ruling, the Arizona Court of Appeals on Tuesday vacated and remanded the Arizona Department of Water Resources approval of [Pueblo del Sol]… a 6,900-home development in Sierra Vista, near the last free-flowing river in Southern Arizona…. The narrow ruling, though, certainly gives the developers [Castle & Cooke] hope.” Find out why, in this report brought to you by Courthouse News Service. http://bit.ly/2fFy2ro

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