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recent federal interest rate cut and the outcome of the U.S. presidential election could significantly impact Atlanta's real estate market. The Federal Reserve lowered interest rates by a quarter point in response to concerns over housing affordability and inflation.

    Derrick Barker, CEO of Nectar, an Atlanta financing company for professional real estate investors, believes President-elect Donald Trump's policies on immigration and tariffs may increase construction costs, exacerbating inflation. "Many immigrants are involved in construction work," Barker said. "Then you need capital and materials, many of which are imported."

    According to a 2021 survey, immigrants make up 28% of Georgia's construction labor force. Barker noted that neither major party candidate proposed significant plans to address housing affordability.

    To tackle the issue locally, Barker suggests changing zoning laws to develop more affordable housing and creating opportunities for young people to enter the construction industry. This could help increase Atlanta's housing supply and alleviate the current crunch.

    Tom Smith, academic director of Emory University's Goizueta Business School Master's of Finance Program, agrees that interest rate cuts can have a positive impact on mortgage rates. However, he cautions that it may take time for this to happen. "We hope this will put downward pressure on mortgage rates over the next couple of weeks," Smith said.