We turned to local experts for guidance on what to expect and enjoy in the home building industry. This is the first in a series of posts we will run in partnership with the Dallas Builders Association, a shining star among professional organizations, whom we are honored to proudly partner with.
By Phil Crone, Executive Officer, Dallas Builders Association
I’m neither a Democrat or Republican, I’m a Houser. Housing affordability and the opportunity of homeownership are what our Association specializes in and the conversations are well received on BOTH sides of the aisle. Our industry has succeeded and struggled under both Democrat and Republican Presidents, and the script for our advocacy efforts is usually a predictable one depending on who occupies the White House. As pollsters and prognosticators now wearing egg on their face found out, past performance is not a predictor of future results. A Trump Presidency will be different, but the questions facing the housing market are the same, and their answers will determine the fate of our economy both here in Dallas and for our nation.
The prospect of a President Trump first entered my mind in August when he addressed our National Association of Home Builders Board in Miami. The vast majority of Trump’s speech focused on his experiences with his dad, who was a home builder, how he would pick up extra materials to use for the next job, how he valued his workers from all backgrounds, who put in a good, long, honest day’s work. He further connected with the audience when he said he knew just how much regulation was having an impact on the industry. He cited the significant increases to the cost of health care they were experiencing as a specific item he would address right away. The audience was captivated. Mr. Trump concluded the speech by accusing Secretary Clinton of being the founder of ISIS.
Guess what part of his speech made the headlines?
The last few years of the Obama administration have been pretty darn good for the Dallas-area housing market. Since homes are where the jobs sleep at night, record job growth in our region has led to a red hot real estate market where demand outpaces supply. Whether that success was because of or in spite of President Obama, I’ll leave for you do decide, but the fact of the matter is, we have a pretty strong tailwind pushing our region’s economy. But we also have several challenges. How President Trump confronts those challenges will have a “yuge” impact on our continued success.