With the topic of the government shutdown all over CNN, MSNBC, the local news and even Facebook, it’s showing to be the trending topic of people of all ages.
The shutdown affects national parks and monuments, food and meal plans for seniors and young children, federal workers’ employment and even research into life-threatening diseases, but what does it mean for U.S. real estate?
In a recent article for the National Association of Realtors by Brian Summerfield, “Would a Gov’t Shutdown Affect Foreign Investors’ View of U.S. Real Estate?,” he goes over the potential stoppage in services that affect foreign individuals and companies’ views of investing in U.S. real estate:
“Of course, if visa and passport processing cease for any amount of time, that could put a dent in real estate investment from smaller-scale foreign buyers. And overseas institutions with less knowledge of the inner workings of the U.S. government may become wary of property purchases. But the real danger for U.S. real estate markets and the broader economy lies in a protracted dispute over funding federal programs.”
It’s definitely worth a few minutes of reading time. Check it out!
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Denise DeChaine is special projects editor of Institutional Real Estate, Inc.
