If this shutdown is short-lived, which many believe it will be, there will likely be little to no impact on the larger real estate market. There could be some delay to those seeking a government-backed mortgage (i.e. FHA loans, VA loans, etc.) - more so for those that have not yet begun the loan process, as FHA will not underwrite or approve any new loans during the shutdown. At the moment, delays are coming from the inability to verify tax returns and social security numbers, for example. But again, if short-lived, we could pick right back up and be alright.
If the shutdown lasts more than 30 days, however, it could spell trouble for new home buyers and those wanting to refinance.
The last government shutdown occurred in 1995 and lasted for 21 days. I won't comment on my thoughts of the shutdown or even try to guess how long the standoff will last, just that I hope it ends soon.
Let's cross our fingers, and in the meantime just enjoy the weather. Have a great weekend!
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