More than 12 hours after all the polls closed in the continental U.S. on Tuesday, American voters woke up Wednesday not knowing the winner of the presidential election.

While millions of votes for former Vice President Joe Biden and President Donald Trump continued to be counted in key swing states including Michigan, Nevada, Wisconsin, Pennsylvania and Georgia, America’s voters — and the real estate industry at large — took a wait-and-see approach a day after the Nov. 3 elections.

Andrea Geller | Photo credit: Berkshire Hathaway HomeServices Chicago

“Staying off the coverage today,” Andrea Geller, a broker with Berkshire Hathaway HomeServices Chicago, wrote in a comment on Inman Coast to Coast. “Will read the news alert when it comes up on my phone. Going along as usual trying to get some work done.”

Like other agents who spoke to Inman, Geller added that a lack of clarity a day after the election was expected, insisting she was “not surprised to find out we don’t know who is president when I woke.”

Matt Visser, a national political reporter at the Washington Post, reported that the Biden camp believes its candidate will be declared winner in Wisconsin and Michigan, with results expected as early as Thursday in Pennsylvania, Georgia and Nevada. Trump, meanwhile, falsely declared victory in the middle of the night, with millions of ballots left to be counted across key swing states, according to The New York Times.

Amy Kong | Photo credit: Trust Real Estate

Amy Kong, a real estate broker and co-founder of Trust Real Estate in San Francisco, said she spent the night drinking wine chatting with friends all over the U.S. and Hong Kong.

“One word — having fun while we did our civic responsibility,” Kong told Inman.

She noted it was interesting to see how different the predictions were in the U.S. — with both FOX News and CNN having different predictions — and Hong Kong, which predicted a big Trump win.

Advertisement

Biden, meanwhile, campaigned on promises to roll back those 2017 Trump tax code changes and invest billion in affordable housing.

He also campaigned on ending redlining and other discriminatory housing practices, and creating a “Homeowner and Renter Bill of Rights,” modeled on a California law, that among other things would apply more regulations to lending and foreclosure processes. The bill of rights would also prevent landlords from discriminating against tenants who receive federal housing assistance.

Outside of the presidential election, results Wednesday morning showed that Democrats will maintain control of the House of Representatives and Republicans were likely to maintain control of the Senate, according to ABC News.

Bob Pinnegar, the president and CEO of the National Apartment Association, said the trade group plans to move ahead and continue its calls for the swift passage of COVID-19 relief, including rental assistance, which has also been pushed by the National Association of Realtors. 

“The ongoing COVID-19 pandemic is fueling our nation’s housing affordability crisis and no immediate relief is on the horizon,” Pinnegar said in a statement. “Our elected officials must address the needs, concerns and challenges of rental housing providers and renters alike to stabilize the future of America’s housing.”

A number of states voted Tuesday to legalize the adult recreational use of marijuana and California passed a controversial ballot measure that would exempt rideshare drivers from being classified as employees under state laws. Real estate agents are already exempt.

As of Wednesday morning, it was too early to call results for California Proposition 19, but the “Yes” vote was ahead by a 51 percent to 49 percent margin.

The law would allow homeowners over 55 who are disabled or are disaster victims to transfer their primary residence’s tax base to a replacement residence and also changes the taxation of family-property transfers and establishes a fire protection services fund. The California Association of Realtors lobbied in support of the proposition.

“Prop 19 protects the constitutional right for parents and grandparents to pass the family home to their children and grandchildren so they can afford to move into the home as their primary residence,” C.A.R.’s lobbying page states. “Prop 19 also opens housing inventory to make homes more readily available for first-time homeowners, families and Californians throughout the state.”

Equity markets reacted kindly to the Tuesday night results, as murky as they may still be. The Dow Jones spiked to start the day, climbing more than 450 points in the first hour of trading.

Email Patrick Kearns

Show Comments Hide Comments
Sign up for Inman’s Morning Headlines
What you need to know to start your day with all the latest industry developments
By submitting your email address, you agree to receive marketing emails from Inman.
Success!
Thank you for subscribing to Morning Headlines.
Back to top
Only 3 days left to register for Inman Connect Las Vegas before prices go up! Don't miss the premier event for real estate pros.Register Now ×
Limited Time Offer: Get 1 year of Inman Select for $199SUBSCRIBE×
Log in
If you created your account with Google or Facebook
Don't have an account?
Forgot your password?
No Problem

Simply enter the email address you used to create your account and click "Reset Password". You will receive additional instructions via email.

Forgot your username? If so please contact customer support at (510) 658-9252

Password Reset Confirmation

Password Reset Instructions have been sent to

Subscribe to The Weekender
Get the week's leading headlines delivered straight to your inbox.
Top headlines from around the real estate industry. Breaking news as it happens.
15 stories covering tech, special reports, video and opinion.
Unique features from hacker profiles to portal watch and video interviews.
Unique features from hacker profiles to portal watch and video interviews.
It looks like you’re already a Select Member!
To subscribe to exclusive newsletters, visit your email preferences in the account settings.
Up-to-the-minute news and interviews in your inbox, ticket discounts for Inman events and more
1-Step CheckoutPay with a credit card
By continuing, you agree to Inman’s Terms of Use and Privacy Policy.

You will be charged . Your subscription will automatically renew for on . For more details on our payment terms and how to cancel, click here.

Interested in a group subscription?
Finish setting up your subscription
×