How will the Governor race affect Florida Real Estate?

American Politics ConceptIt’s that time again, that people are preparing to make their final decisions for the election. In some races, the outcome is predictable through polling. This is not the case in the Florida gubernatorial race. Whether incumbent Rick Scott, Republican, or Charlie Christ representing the Democrat party wins to become governor is up in the air with polling suggesting a neck and neck tie. Whoever wins will most certainly have an effect on the direction Florida’s economy takes for the next four years, especially in the Florida Real Estate market.

Rick Scott’s term has seen economic improvements although some claim the recovery in Florida has lagged behind the rest of the country. Construction has rebounded showing promise for the real estate industry, although, as it has been across the nation, it hasn’t reached the levels of 2006. Local businesses have been picking up and drawing new residents as high end luxury apartments are being built to accommodate them and the Florida Real Estate market continues to see improvement.

Charlie Christ offers a chance at a different approach. One of his running points is that although Scott has been good for the economy, he hasn’t been good enough. Scott reduced taxes and cut regulations to draw in more business, although it hasn’t created the job openings the middle class is desperate for. Christ rather prefers what he has termed a “fair shot” economy that favors the middle class workers with rules about how they are treated and paid by their employers. Christ is not slow to blame Scott’s current policies for the slower than average economic growth in Florida.

As with politics across the country, Florida’s election outcome is going to be determined by the economic approach voters have a better impression of. Florida Real Estate, often considered the cornerstone of the economy, will be affected by the choice of governor. Overall, it appears that Charlie Christ is likely to incorporate policies that assure better quality jobs, perhaps at the expense of drawing business to the region that would provide a higher quantity of jobs. Rick Scott, on the other hand, has a proven record of attracting business that provides numerous jobs although deregulation doesn’t protect the employees as well. It is up to the individual voter to determine which will benefit the Florida Real Estate market and overall economy most.

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