Use our Interactive Radar to Track the Storms

Government Shutdown Hurting Home And Car Industries

(Memphis) Bickering among Congressmen is hitting the wallets of some people in the Memphis.

“Business as of late had been very good, once the government shutdown it basically has pulled the rug out from under folks,” said Realtor Lisa Harris.

Harris says the housing market has virtually come to a standstill in Memphis because of the government shutdown, and she’s tired of congress messing with her pocketbook.

“I think politicians are very far removed from everyday life and they’re in their own little world, and I don’t think they realize the day to day drudgery people go through, what affects them, and the hardships people have,” said Harris.

Last week realtors couldn’t even close on houses because lenders couldn’t pull tax returns to verify income information since the IRS was closed.

Congress has since waived that requirement allowing people to close.

“It just makes them feel that we are still in very volatile times, and we could experience another home crisis like we’ve had,” said Harris.

Tommy Martin owns a used car dealership and says he's only gotten a tenth of the shoppers he had two weeks ago.

He says he's fearful of long term effects in the spring from the shutdown.

“I'll have a third of my business during that time because elf the tax refunds. So if all of this continues will there be refunds? Because if not then I'm not going to buy and stock u inventory for that time of year,” said Martin.

With no end in sight business owners like Tommy and Lisa share the uncertainty of those who use to buy their services.

Filed in: News


Suggest a correction

1 Comment

Comments are closed.


Get every new post delivered to your Inbox.

Join 15,362 other followers