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After his announcement, Biden endorsed Vice President Kamala Harris for the Democratic Party nomination.
However, despite Bidens endorsement, Kamala Harris is not yet the definitive Democratic nominee.
It is commonly believed that the housing market suffers during election years.
This means that while uncertainty can be stressful, it is not categorically bad for housing costs.
Here are 3 ways Bidens withdrawal could affect the housing market.
Conversely, higher interest rates can increase borrowing costs, dampening homebuyer enthusiasm and slowing price growth.
Reducing this deduction might lead to higher after-tax costs for homeowners, potentially cooling demand and affecting home prices.
Similarly, changes tocapital gains taxeson the sale of real estate can influence investment decisions.
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