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Obama's Impact on Real Estate

Posted on Jan 18, 2009 by Matt Thomas

So, the honeymoon will be over soon, and newly-elected president Obama will have to face a variety of economic issues currently facing our country. The current housing market should be at the top of the priority list, as it takes the blame for most of our current economic woes. Here’s a few items that are sure to be on the agenda:

•many people are calling for more regulation in the banking and housing industry … at the same time, most people agree that lenders have to start lending money again for the economy to rebound … achieving a balance may be difficult •FHA programs are in disarray and conventional lenders may be better equipped to manage the risk of new loans. Some attention should be paid to these private lenders in rescuing the market … not just the government-backed programs •foreclosures are at an all-time high, and Obama may choose to use government power in forcing them to focus on modifications to slow the foreclosure trend. He mentioned in the past the possibility of imposing a moratorium on foreclosures, and this will be tricky •decisions must be made on how to include housing industry in economic stimulus packages that are sure to follow in coming months.

Experts believe that Obama’s administration will make the housing market a priority … only time will tell how effective the new policies will be.

Tagged: obama real estate, real estate government, real estate stimulus