Will the Election Results Impact Real Estate?

November 5, 2010

Source: The Wall Street Journal, Robbie Whelan

Tuesday's election outcome will almost certainly have an impact on the real estate industry and the issues that most seriously affect it. Here are two of the initial results.

Ten of the 12 state attorneys general on the executive committee heading the foreclosure probe lost their re-election bids and won't be returning to office. Ohio's Richard Cordray, one of the most outspoken AGs, says the change of watch won't matter very much.

"The issue is still there. The elections don't change that. It's going to need to be addressed, from the industry's standpoint," he said. "The 50-state investigation will continue to go forward."

Also, in Florida, voters rejected a proposal to change the state's constitution to allow voters to decide changes to local master plans. The proposal was rejected by two-thirds of voters.

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