How the Government Shutdown Affects Your Real Estate Deal
NEW YORK ( TheStreet) -- With Congress entangled in debate over raising the government's debt ceiling, Americans looking to buy or sell a home may experience some unexpected roadblocks on their way to a deal.
Of course, this is only Day 1 of a government shutdown, our first one ending early in 1997, and a few days with the spigots turned off in Washington, D.C., won't exactly bury the needle on new home sales.
But if we're still in a shutdown 30 days from now, all bets are off, as the real estate market would take a huge hit from an extended "lights out" period for certain federal expenditures.
To help homebuyers and sellers sort it all out, we turned to Mike Copley, director of retail money-out products at TD Bank:What impact does a government shutdown have on the real estate market?
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