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Anyone using Sonic for Wi-Fi? How are they?
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What you need is a good old fashioned market crash
Local politics generally have a much bigger effect. Building housing is a hot political topic here, and more housing supply or less demand = lower prices. Whether housing gets built, and whether this area remains attractive to live in, depends much more on the politics here than on anything going on in Congress.
For an example, the TCJA was a huge tax hike for wealthy people in states with high income taxes (i.e. the people that buy houses in the Bay Area). You might expect that to have had a negative effect on demand to live here, but the graph really doesn't show any short-term effect at all.
Also remember that the median homeowner owns their house for 13 years, which is a lot longer than a presidential term.
Prop 13 is the root of the housing supply and price problem for California.
Talk about generational wealth. Far more homes would come to market if people can’t be grandfathered into lower tax assessed values from inherited properties.
Prop 19 has limited the grandfathering of lower tax assessments to some degree (eg, excluded first 1M on primary residence), but we likely won’t see a significant impact from that for a while.
Where do you see softening? There is crazy competition out there
The artificially lowered prices on Zillow are just to attract more foot traffic and create a false sense that that house is desirable so the seller can get higher bidding prices. Anything done by the POTUS will take some time to go into full effect. Interest rates are already higher than last year so a tax cut of 0.25% will bring mortgage rates back to last year's level which is still high.
I agree that local government has more impact on local economies. There has been some crazy talk coming from one of the presidential candidates about eliminating the income tax and funding the government with tariffs ob everything that is imported. Fortunately, that is so absurd that only a handful of congressmen would sign onboard. That said, I would have to go on and say that one candidate poses more threat to the economy than the other one. The Federal Reserve could have an impact if it lowers the prime rate significantly. That would spur more home buying, but that could also reduce demand, and the combination could spark a spike in inflation. I really hate economics.