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A Tale of Two Nations

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This nation is divided. We see it everywhere we look.

We’re less than 10 days away from what is expected to be a close presidential race, regardless which candidate wins.

Depending on where you live, home prices either continue to increase, becoming ever more unaffordable for many Americans, or you’re seeing home price declines as homes sit on the market longer.

If you own assets like stocks, houses, crypto etc…you’re seeing prices hit all time highs almost every month. Meanwhile, hundreds of thousands of people have been laid off and are struggling to find work.

We’re obviously focused on the housing market but it’s all related. You can’t ignore the big picture.

You want to see the data? Sure. Look at the housing data below. The colors just so happen to be in red and blue, but this is by no means political.

housing market data

Generally speaking, many counties in the Northeast and Midwest continue to experience home price growth, as supply is still limited. You’ll note that in many areas of the south and southwest, such as cities in Texas, Florida, Alabama, home prices are in decline.

We’re not macro economists or experts on all things markets so we can’t have an informed opinion on where things are headed next, but generally speaking, it feels like the gap between the haves and have nots is getting wider.

We’ve seen a stark contrast between people from the same family, sometimes even the same household!

  • One family member will vote for Trump while the other is voting for Kamala, and expecting a Civil war in the country should the other candidate win.
  • One family member owns assets and has seen their net worth increase, while the other is unemployed and struggling to make ends meet.
  • One family member’s home equity continues to appreciate, while the other can’t afford to buy a home and feels like they never will.

It’s a weird dynamic. Usually, most people are affected equally by things such as unemployment, inflation, the stock market, real estate market, AI etc…but that doesn’t appear to be the case nowadays. Select groups of people are doing really well, while others are falling further behind.

We don’t know who is going to win the election next week, nor do we know how it will affect the markets. We do know that about half of this country will not like the outcome either way, and that people who own assets (homes, stocks, bonds) will continue to progress.