Скачать или смотреть 'Wait and see': Federal shutdown sparks uncertainty in US housing market

The nation’s record-long government shutdown is hitting the real estate market. Buyers and sellers have grown more cautious during the period.

Dan Jones with Carolina Real Estate Experts says the end of the year is typically a slower time for housing nationwide, but this year’s shutdown is adding to the uncertainty around the job market and overall economy.

“Two or three out of every ten people we talk to say they want to wait and see what happens with the government shutdown before buying,” Jones said.

Yongqiang Chu, a finance and economics professor at UNC Charlotte, says the shutdown’s biggest impact is on federal housing programs. The National Flood Insurance Program expired on Sept. 30, preventing new flood insurance policies from being issued. It's a move, he says affects about 1,000 real estate transactions a day.

He adds that VA and FHA loans are also being processed more slowly due to limited staffing.

The North Carolina Housing Finance Agency continues to be a valuable resource for individuals facing challenges with homeownership. #News #Economy #RealEstate

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