Welcome to the Pocket List, investors 👋

Let’s make some money today, shall we?

First, let’s check in on mortgage rates…

The 411 on rates… Rates dropped back below 6.5% after consumer price index data indicated that the Fed was getting inflation under control (well, more under control than it has been). That sent a message to investors that J-Poww and the Central Bank are likely to cut rates in September.

THE LEAD

Will the election impact real estate investors?

(A note from Mr. Pocket Listing: I can’t believe I need to say this, but let’s all be adults here. I don’t care who you’re voting for, nor do I want you to convince me who I need to vote for. I only care about one thing: how the next President could impact our real estate businesses.)

Housing is actually one thing both Presidential candidates see eye to eye on (well, kind of). They both agree there is a major housing affordability issue in the US of A. Their proposed fixes differ (obviously)…

Let’s dive into the details of what a Harris or Trump administration could mean for real estate…

Trump…

• It probably shouldn’t come as a surprise that a Republican could work to reduce taxes on homeowners. Think: increasing the standard deduction.

• We could (this one’s a bit of a stretch) see a national standard for building codes that removes specific (and onerous) state and local regulations

• Rural areas could get some love. A Trump White House might explore ways to provide tax credits, financing assistance, or other incentives for building and buying homes in these areas.

Kamala…

• While Trump may focus more on rural and suburban areas, it’s likely Kamala would hone in on more affordable housing in big cities

• No surprise here, but a Harris administration would probably prioritize sustainable/green building. Think: stricter energy efficiency standards.

• The biggest winners could be renters who would be likely to get more eviction protections. We might also see more policy that limits rent increases.

• Harris has said she’d fight to remove tax breaks for Wall Street firms buying up residential property en masse and go after landlords using price-setting software

Fun fact: no matter who wins, home prices are likely going to be higher next year, simply because the election took place.

Historically, we’ve seen higher prices in the year following presidential elections as investors take a ‘wait and see approach’ in the lead-up to an election.

💭 Mr. Pocket Listing says… Friendly reminder: it’s really hard to get things done in DC. Plus, most of this stuff would require buy-in from Congress.

Not to mention, the platform a Presidential candidate runs on can shift pretty, pretty quickly once they arrive at the White House.

WHAT ELSE?

More industry headlines I’m keeping an eye on…

• Mortgage refinancing surges 35% in one week, as interest rates hit lowest level in over a year (Read)

• It’s unclear whether ADUs bring down housing costs (Read)

• Our Midyear Real Estate Forecast Reveals Major Change for Homebuyers—Here’s What’s in Store (Read)

• Demand For Section 8 Housing Will Remain High—Here’s Why (Read)

• New Survey Captures a Surge in Renters Planning to Move (Read)

• Almost half of listing inquiries don’t receive a response from an agent (Read)

• Home insurance is spiking—and landlords plan to pass on some costs to renters (Read)

• Real-estate stocks are bouncing back. Is the commercial property rout over? (Read)

• Multifamily Developers Become More Pessimistic in Q2 (Read)

• Annual inflation rate slows to 2.9% in July, lowest since 2021 (Read)

• Gen Zers are happy to give up sex if it means meeting this one huge life goal: survey (Read)

DIY

Let’s get tactical…

• Rate Cuts Could See Commercial Real Estate Rebound. Take a Deeper Look At These Investments. (Read)

• What is the most annoying part of owning investment properties? (Read)

• Even If the Fed Cuts Rates, Homes Will Still Be Just as Expensive (Read)

• To sue or not to sue: How buyer’s agents should prepare for commission disputes with clients (Read)

• Here’s what you can — and can’t — do under new NAR rules (Read)

• Over 50% of Homeowners Regret Their Home Projects — 5 Ways To Avoid Similar Mistakes (Read)

• 6 Home Upgrades That Are Worth the Money, According To Rachel Cruze (Read)

Mr. Pocket Listing’s favorite property of the week (a guy can dream, can’t he?)…

PROPERTY TOUR

It’s time to get a pulse on markets around the country…

(1) San Jose, California’s Median Home Price Hits $2 Million—a First for a U.S. Metro (Read)

(2) Top 10 Opportunity Zones Where Median Home Price Nearly Doubled Quarterly (Read)

(3) 10 Housing Markets That Will Plummet in Value Before the End of 2024 (Read)

SURVEYING

Here’s today’s question…

We haven’t done this in a bit, so…

Reply to this email and say “LIST.” This tells the email gods that we’re actually friends and helps me land in your inbox.

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One last thing…