It is going to take some time to understand the impact of the Trump presidency on real estate and our local economy. All new administrations evolve over time. We are fortunate in Colorado to have a very healthy economy, and one which is independent of many national forces. We have entrepreneurial, small- and medium-sized businesses, none of the giants dependent on federal policy. American government functions well in states, cities, and towns. We do better resolving conflicting priorities in small groups, not at the remote federal level.
Colorado has good fiscal discipline—some would say too much, but that beats the alternative—and good leadership. Arguably the most important thing to Coloradoans is our quality of life, and we are in charge of that. Federal policy can create mischief. One of the top real estate issues is the unresolved state of Fannie and Freddie, functioning well but still in conservatorship. Many on the right have wanted to shut them down. The Fed Chair took unusual criticism during the campaign.
On the other hand, after a dozen frozen years, there are opportunities for tax and budget reform. In a gridlocked government we have gotten little done of any kind. Now one party not only holds government, but accountability as well. Those who fear too much one-way action, consider: two groups of congressional Republicans deeply disagree with each other, and the president-elect is not aligned with either, nor does any congressperson owe her or his office to this outsider president-elect.
Perhaps the greatest local economic risk in the next months will be anxiety among Clinton and Obama supporters, suppressing risk-taking, numbing optimism, and removing the sheer fun of a good economy. Our Constitution was designed to protect against policy lurches after moments of political heat. Take a deep breath, all of those pleased by this outcome and not, and move on quickly.