In the past, whenever spending outpaced revenue, Congress has agreed to raise the debt ceiling. Although it is likely that this will be agreed to again by the August 2nd deadline, most economists have indicated that if they are at an impass at that time, home values willlikely decline and mortgage rates will likely go up. The reason for this is due to the fact that the government’s reputation would be hurt in the eyes of creditors, which will have a ripple effect on the economy. The end result will be fewer buyers which translates into lower prices.
Another consequence will be that the government will be forced to slash many of the programs that were geared towards first-time homebuyers. This will reduce the number of qualified buyers even further.
In view of this uncertainty, now may be the best time to sell.
The Law Office of William J. Reinhardt, Jr. is available to answer any questions pertaining to the selling your home in the present economic environment. Call 718-377-8880 or send e-mail to [email protected] with any additional questions.
"My name is Emilio. When I was buying my property, I hired Mr William J Reinhardt Jr as my Real Estate Attorney, it was one of the best decision I ever made because he did everything in his power to make sure my purchase was successful. For example, The utilities bills left over by the person who owned the property before me. I said thank you to Bill for not allow me to pay these costly bills." - 5.0 stars | Posted by Emilio Bien Aime | October 1, 2019
"Mr. William Reinhardt Jr. is my lawyer for many years. My family and I bought and sold properties with his help and were very satisfied. I recommend Mr. Reinhardt to anyone. I give him a 5-star review." - 5.0 stars | Posted by Diana | September 19, 2019
"My husband and I loved working with William. He was very professional, efficient and went above and beyond to help us. We would HIGHLY recommend." - 5.0 stars | Posted by Leeann | September 13, 2019