Ok people, I need your help!....
This afternoon, I must sit down and write the "Letter from the Editor" for one of our luxury real estate magazines that provides our magazine's opinion on the current and future real estate market.
I'm fairly confident that the stock market will not skyrocket today. Obama has made it clear that he'll increase capital gains taxes and tax big corporations more. That means lower returns for investors. Personally I am not too excited about investing anymore of my hard earned money in Wall Street right now.
Regarding real estate, I have two thoughts....short term and long term. In the short term, we might see a spike in activity as people try to sell off their real estate holdings in order to cash in before any new legislation about higher capital gains taxes kick in sometime during Obama's first year in office. In the long term, I see a potential "buy and hold" scenario shaping up. Real estate investments over the long run are good investments...agreed? Will people buy now, with the purpose of holding for the next 4 to 8 years on the hopes that the Republicans can retake the White House in 2012 or 2016 and return capital gains back to previous levels?
Please share your thoughts...thanks
