The next U. S. election will not only concern who will occupy the White House or Congress. The result of the election can have certain effects on almost all spheres of life, including real estate. Therefore, first-time homeowners may be either way in the sense that the results of the election could potentially affect their chances of owning a home. That is because of the political influence directly or indirectly on the price they would afford and the processes of acquiring a mortgage.

This article highlights how the election in the U.S. may likely impact first-time home buyers through three key policies: housing, taxation, and economic policies.

Change in Housing Policies

The election can most directly impact first-time home buyers through housing policies. Political parties and candidates in power may have different opinions about the housing sector, which can lead to changes in policies, incentives, and programs to encourage first-time homeowners.

Fed Rate on Mortgage

Interest rates are a primary concern of home purchasers who wish to acquire a mortgage. These rates vary with economic factors and policies made within the lender’s jurisdiction. The Federal Reserve sets the base interest rate, and this could change due to changes in the forecasted economic scenario occasioned by the election. For instance, if the election results in policies that increase the economy’s growth, interest rates may be raised to curb inflation, which translates to expensive mortgages.

First-Time Ownership Programs

In its capacity to accommodate first time homeowners, the government provides incentives such as grants for the down payment, tax credit, and reasonable interest rates on the loans. These programs can be readily accessible and formulated in a manner that the political party in power controls.

For instance, a candidate who has a policy based on enhancing and providing affordable housing may develop these programs to enhance the provision of affordable facilities so that first-time buyers can access the market.

Review of Taxation Policies

Tax measures are particularly important to homeownership. Mortgage interest, property tax, and homebuyer tax credits are forms of tax credits that lower the actual cost of owning a home than the stated price. Depending on the election results, these changes in tax policies can either enhance or detract from the value of purchasing a home.

Mortgage Interest Deduction

Mortgage interest deduction enables homeowners to claim a reduction in their taxable income to the extent of interest on the mortgage. This deduction is especially important for first-time homeowners who could otherwise lack steady cash flow. However, if the election results in abolishment or change in laws that affect this deduction, it might lead to a rise in the cost of the homes, making first time homeownership unaffordable.

Property Taxes

The election also affects other policies within a state, such as taxes or federal policies. Property taxes differ greatly throughout the U.S. and could fluctuate depending on the state’s leadership. For first-time buyers, it is necessary to focus on how these changes might impact the overall affordability of homes in a given state.

Overall Economic Policies

Apart from direct housing policies, the general economic climate arising from the election affects the housing market. The following factors have a considerable impact on first-time homebuyers’ ability to own a home.

Partnership with Developers

Some candidates support subsidy programs that may increase the availability of new homes. Such measures might involve offering tax exemptions to developers seeking to provide affordable houses or even large construction projects funded by the government. Should they be introduced after the election, first-time buyers would have more choices of affordable houses in the market.

Affordability of Customised Units

First-time home buyers particularly need a good job market to help them secure the needed finances to own their dream home with all the features they can afford. Improving employment opportunities and increasing wages mean that individuals can now afford to spend more on units with classy interior design.

Hence, they can have their units customized to meet their preferred interior design, even if it may cost them more than standard houses. For instance, one may opt to have kitchen cabinets that are custom made to suit the size of the kitchen and their needs. Customizing other rooms with vanity fittings will also make the home more appealing and comfortable to live in.

Therefore, the favorable implementation of policies that promote job creation together with economic steadiness may facilitate the entry of first-time buyers into making their own house design decisions.

Potential Market Uncertainty

Investors and consumers tend to hold off on buying properties during elections due to the uncertainty in the market. These may influence home values, borrowing costs, and buyers’ appetite for the market. First-time home buyers should be careful because election years can influence market fluctuations as they seek to find a home.

People like to say that we used to be able to trust the news we see. That newspapers and TV news networks didn’t have an ulterior motive and only provided the cold hard facts. These same people also like to cry out that you can’t trust anything you see on social media! They claim the internet has become nothing more than a hotbed of fake news and deception.

But how much truth is there to this argument? Social media has been under the spotlight for a long time now. And rightly so. Our world is more connected than ever before in human history. We are able to disseminate information instantly to the entire planet with the push of a button. Just take a moment to really absorb how powerful that ability is. Our world would have been a very different one if the ancient Emperors and Queens could send out commands to their subordinates in real time.

Today we are going to be taking a hard look at the truth behind using social media as a news source. Is it credible? Or is it not to be trusted under any circumstances?

Presenter Bias

The first step in understanding how credible a news source is is to fully understand presenter bias. This is not a new concept. It has been around for all of human history. In the fictional world the term would be an unreliable narrator. Someone whose perceptions and views on a given situation might not be entirely accurate. Often being contorted through their own beliefs, feelings, and incorrect assumptions.

To that end it is often said to be impossible to have a truly unbiased news source. But this is where a lot of people make their first mistake. Biased news is not the same thing as untrustworthy news. It is entirely possible for someone to present a list of facts while still being biased towards one angle or another. This is very common in newspapers and on TV stations.

The first step in establishing the credibility of a news source is to understand the biases of the people presenting it. This will help you be able to see through any biased language and focus on the facts of a story.

Social Media Credibility

So how credible are social media news accounts and posts? The truth of the matter is that there is no one right answer to this. Social media has allowed anyone to share information with the world for free. Which is an amazing concept. But this also allows room for the spread of misinformation.

Verified news accounts on social media, like the New York Times or The Guardian’s Instagram page will generally be pretty credible. If you see a verification symbol on an Instagram or TikTok page then they are generally going to be more credible than unverified pages.

But that doesn’t mean that unverified pages aren’t credible either. There are a lot of independent investigative reporters and activists who share informative and credible news stories. People are often quick to dismiss these pages because they try to boost their page through artificial means. Using digital marketing from GetLikes or buying followers from UpGrow. But these practices are actually used by the big news sources too. Buying likes and followers is an effective way to beat the social media algorithms that often hide news stories in favor of memes or more pleasant content.

Check The Sources

So how can you tell if a social media news post is credible or not? The first step is to check their sources. Any reputable news source, independent or otherwise, will have a readily available list of sources they can cite. If the source is a first hand interview or a personal account from the reporter then you should see if they have any interview transcripts or video / photographic evidence.

This might be more time consuming but it is worth it to ensure the information you are taking in is credible.

The second thing to look out for is how many other news sources are reporting the same information. Crosscheck the information to see if the facts are the same and see if they are citing the same sources.

Both of these steps are especially important when using social media as a news source. It is far easier for independent social media accounts to forgo the practice of providing sources. Don’t be afraid to message the account or leave a comment asking where they got their information.

The Verdict

This is a very tough argument to boil down to a simple yes or no answer. While it is true that social media does contain a far higher degree of misinformation and fake news than other platforms, it doesn’t mean that all news from social media will conform to that idea.

Social media is a great platform for getting global and local news from. But you have to play your part in ensuring that you are finding credible sources and checking the validity of any facts and claims being made.

Self-storage units are used in America by individuals to keep personal belongings that may not fit in the house or are for seasonal use. Other people use them as centers to dispatch goods to clients.

However, over the recent past, there has been a growing tendency of Americans wanting to dispose of their storage units. This change can be related to certain changes in society. These may be economic, changes in lifestyle, and technological factors. You want to know why more storage units are on offer in the US?

Follow this article and discover the various causes of Americans’ increased selling of storage units.

Financial Management

Due to erratic inflation, the prices for most necessities and amenities in many regions of the United States of America are gradually increasing. Basic items and other necessities are on the rise, and people are forced to start spending their incomes wisely. Thus, if selling the storage will give you an additional income, then you have no better way to solve some of your financial problems.

Secondly, it is quite costly to rent storage space for one’s personal belongings. In the last few years, the average storage unit cost has been rising due to increased demand. When one adds the costs incurred in maintaining the unit, the fees are rather high. Hence, selling the storage offers quick cash to help ease on the monthly bills.

As rates rise to tame inflation, citizens are becoming increasingly worried about their debts. To relieve this situation, selling the stored items and the storage itself can provide sufficient amounts to clear outstanding loans, increasing overall economic well-being.

Lifestyle Changes

Social media and influencers seem to be setting a simple way of life trend where people avoid accumulating too much stuff in their possessions. Hence, more people are realizing that they do not require storages full of belongings that they hardly use. Hence, there is a sudden wave to self-off items and dispose of the storage unit altogether.

Consequently, by copying each other, many Americans, mainly the younger generation, are moving into smaller houses in cities, especially apartments . This lifestyle change does not usually require one to have a large storage capacity like when living in a suburban house.

Digitalization of Storage

In the past years, people kept important memories like printed photos in albums, music in DVDs, and books in shelves of storage units. Nowadays, technology has changed all these as everything has become digital. For instance, photos are now stored in cloud spaces, movies are streamed online, and books are read on e-readers. This digitalization has eliminated the need for a physical safe storage facility, encouraging more people to sell their storage units.

These innovative ways of storage management also allow people to keep track of their belongings digitally. Instead of dusting the shelves in search of a file, technology gas introduced apps and softwares that arrange and organize your items in an orderly and easy to access manner. Hence, people are finding it better to manage their possessions more efficiently digitally than in storage units.

Sustainability and Environmental Consciousness

Environmental awareness is on the rise, and many people are becoming more conscious of their consumption habits. The concept of sustainability encourages reducing waste, reusing items, and recycling. By selling storage units, individuals are often selling or donating items they no longer use, contributing to a recycling economy.

There may not be a need to use fresh raw resources to produce new items where the old can be refurbished. Alternatively, used items, especially electronics, can be used to make modern ones by using some of the older parts. Hence, this approach not only declutters people’s lives but also promotes environmental responsibility.

Additionally, maintaining a storage unit contributes to increased carbon footprint. This comes from the energy used to power the facility to the emissions from transporting items to and from storage. By selling off unnecessary items and closing storage units, individuals are participating in measures to correct global climate change.

Conclusion

Although more Americans are selling their storage units, a large number are equally opting to buy for their own reasons. Storage units act as safe houses for personal items that you may always need but do not want to clutter your home. Hence, there will always be a balance between demand and supply, making them a long-term investment.