Politics of Real Estate: Bryan Ellis Interview
There are a lot of people in the real estate investing “expert” business, but none of them have the depth of knowledge about the economy and political issues as the infamous Bryan Ellis.
Over and over again, Bryan’s name was mentioned to me due to his unusual mix of expertise in the areas I’m specifically interested in: Real Estate, the Economy and Politics. With yesterday’s elections, I had to seek out his thoughts about the immediate future of the real estate industry.
Question: How will Barack Obama’s ascension to the White House change the U.S. real estate market?
Bryan Ellis: My hope is for a minimal effect, but my brain doesn’t expect that to happen. Obama has raised taxes at every opportunity he’s had, and he’s already promised to double capital gains tax rates. None of these are good for the real estate market.
Question: How quickly will these changes have actual ramifications in the real estate market?
Bryan Ellis: Look for increased real estate sales in the waning weeks of this year as investors sell off their assets in anticipation of an Obama tax penalty against successful real estate investors.
Question: That’s an incredibly immediate effect!
Bryan Ellis: It’s pure math. With his promise to double capital gains taxes, Obama is giving strong incentive to investors to unload their assets right now. This will, of course, further depress real estate prices.
More of this interview with Bryan Ellis in the next installment. Check out Bryan Ellis’ videos at http://www.youtube.com/BryanEllisVideos
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