Elections, Grid-lock, Foreclosuregate and the effects on RE

[Jimmy H.]

It seems inevitable that the Republicans take control of the House, and likely gain many seats in the Senate.

This type of situation is called "grid-lock" becuase both parties can essentially keep each other from getting anything accomplished.

It is my understanding that grid-lock is histroically good for equity markets, but I wanted to start a discussion to see what BPers believe the effect will be on the RE market.

You can take into account the potential "foreclosuregate" scandal as well as it seems inevitable. Although IMO if a borrower deaulted and missed payment the bank has the right to foreclose, regardless of if they made paperwork errors - I don't see how that should negate their overall right to foreclose.

[Account Closed]

Gridlock currently is the best option. It is my hope though we may have a truly conservative government in place. May not happen in my lifetime, in the meantime limiting the damage that can be done is probably best.

Hate to see what might happen if the status quo remained unchanged in the coming 2 years. The social reform we have seen would likely blossom into greater wealth transfer schemes and a much larger government presence in our day-to-day lives. The nanny state we live in today could become much worse.

To think someday we might have the right to a job of course not of our choosing. We might have the right to health care, but limited to what is decided is best. We might have a guaranteed retirement though that guarantee would likely mean there are many things we would be guaranteed unable to do.

Gridlock may be the only answer at this time, but it stifles the chance for greatness, prosperity, freedom and real hope. It is a stop gap that prevents greater harm, but does very little to help rebuild this great nation.