Quote:
Originally Posted by Sundancer320
Bernie will crash the economy and the property prices will drop like a stone so you can then step in a pickup a great property.
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What I find interesting, and frustrating, is the astronomical deficits that President Trump and the Republicans (who had a majority in the House and Senate for two years) have created. We will have to deal with it - and the economy will suffer at some point.
My guess is that island, and waterfront property in general, will be largely unaffected. There is a core population that is doing very well and is well positioned to weather an economic downturn. Those who are overextended and unable to make ends meet will have to sell at a loss, but my guess is that will be the exception rather than the rule. Even if people are forced to sell, I think there will be more buyers than property available, keeping prices where they are.
As for Bernie, like him or not, at least we know where he stands. Do I like what he stands for? Not really...
Bottom line, IMHO, is property values on the water will remain consistent and/or continue to rise. There is not going to be a dramatic decline in prices regardless of who is in power. If I'm wrong, I'm well positioned to step in and buy, but I'm not willing at current prices. I'm happy with what I have. I don't view my property as an investment to cash in, but instead a lifestyle choice to enjoy.