Obama’s wind of change blows quickly for property investment market

photo credit: bobster1985

Anyone who owns US investment property is waking up today to find the country is to be run by a wholly different boss in the shape of Barack Obama.

Not only is he America’s first black leader, he is also a staunch democrat with an eye firmly on unscrupulous mortgage lenders and on the entire borrowing system, apparently so culpable for the recent chaos on Wall Street.

He might not bail out struggling homeowners as quickly and directly as John McCain would have done, but he does seem set on trying to ensure the likes of the sub-prime crisis does not happen again any time soon. Preferably never again, in fact.

Foreclosed homes were ‘never forever’

While the foreclosed homes rush is a bargain sale for property investment professionals with cash at the ready, it’s not going to last forever and the election of a new president is likely to bring forward the end of the phenomenon – financial markets have been largely on the up simply because of the wind of change blowing through polling booths across the country.

Property price stabilisation is now more likely to arrive sooner as oppose to much later – good news for anyone who bought a year or so ago and has since been reluctant to sell.

‘Financial confidence injection’

Arguably, regardless of who won, the popularity of the thought of a breath of fresh air in the White House meant new optimism was guaranteed, followed by a much-needed injection of financial confidence.

Obama is surfing the crest of a world popularity wave – and the honeymoon is likely to be a long one. Time will tell how quickly he can persuade the economy to come along for the ride.
[tags]real estate,real estate investing,property,property investment[/tags]