Immigration changes could hurt sector, but reduced financial regulation could help it
By Laura Kusisto | The Wall Street Journal
Before the presidential election, economists anticipated the housing market would continue its steady recovery in 2017. Growth in home prices and sales likely would slow after a four-year run-up, but new construction likely would pick up, bringing relief to those struggling to find affordable homes.
Most economists still hold to those predictions, but they now say Donald Trump’s victory could upend the market. As investors bet on faster growth—tied to tax cuts and higher infrastructure spending—mortgage rates have risen to 4.16% from 3.54% before the election, figures from mortgage giant Freddie Mac show.
