I bought a house at the end of February, and I still can’t decide whether it was the smartest or stupidest thing I’ve ever done. And I intentionally immerse myself in real estate every day, trying to learn more about the ins and outs — and the global economies that drive this industry. If I’m this confused, you can imagine how some consumers who don’t have a foundation in real estate might be feeling today. On Friday, the news that the citizens of the United Kingdom (UK) had voted to leave the European Union (EU) — a “British exit,” abbreviated as “Brexit” — almost broke the internet.
- Real estate is local, and different markets in the U.S. will respond to Brexit depending on what's already been taking place.
- There is likely to be some "flight to safety" from international investors, who will want to park their money where it will be safest.
- There will be a temporary effect on markets, and Brexit might act as "an anchor" to the U.S. economy, but overall, the U.S. is expected to remain relatively untouched.