Real Estate, the Morning After

The election finally happened, and now we are left with the results that will shape the next four years and beyond, both in our community and in the country at large. And regardless of your political leanings, chances are that you have personal and professional relationships with people on both sides of the aisle. 

It’s certainly the case in my family and personal friendships, where we run the full gamut of blues, reds and everything in between. It’s also the case at both my brokerage and my investment fund, where the political preferences largely mirror those of our region, with a few standouts who hold beliefs that are well outside the majority. Yet these are decades-long relationships which have been able to co-exist and thrive together based on the many shared interests, causes and experiences that we share outside of politics. 

As a real estate provider, investor and professional, I often benefit from a more conservative proposition or administration, while as an individual I tend to align more with causes that are more socially driven. I like to think most of us strive to make our voting decisions based on our conscience to support what we see as for the greater good than being driven by self-interest or greed. But either way, once the results are in we get on with life and business. 

As for the election results, both housing-related measures on the state ballot got voted down, with Proposition 5 failing to lower the threshold for local agencies to fund housing, and Proposition 33 failing in a third attempt to take away Costa Hawkins protections for property providers. And at the national level, Wall Street appears to be happy with the choices that were made in the presidential election, while a slew of deeper economic, social and political impacts await an uncertain future. 

Regardless of feelings about outcomes, whether in politics, in sport or in personal matters, one of the best measures of a person’s character is how they respond when the outcome isn’t what they were hoping for. 

To anyone considering a drastic response like leaving the country, while I certainly benefit as an agent if I list and sell their property, as an individual I would suggest that if someone truly loves their country but not the government in power, running away is basically abandoning the cause to let the opposing side do whatever they want. In fact, it is exactly when things are darkest that people should stick around and stand for what they believe in. 

To that end, what if Zelensky had fled Ukraine? What if Mandela had fled South Africa? In order to effect change, you “must be present to win.” Otherwise, all you are doing is conceding defeat because you don’t like the odds. Which isn’t very heroic.

For a less drastic response, if you really don’t like where you live to the point of wanting to leave you can always move to a blue state. But for most of the readers of this column—for better or for worse—we already happen to live in the People’s Republic of Santa Cruz.