It is no secret that the real estate market in the United States has been on a decline. They are no clear signs that this will be changing in the near future. I’m sure that there are many Americans that would like to forget the past eight years that George W. has been in office. Everyone is hopeful that a new president being elected will help the economy and also help the real estate market in a positive way. Regardless, nothing is guaranteed. With what we know of the two front running presidential candidates, we can assume what effects they may have on the real estate market.
Republican candidate John McCain would rather see this situation pan out on its own without the interference of the government. He proposes that if there is any government assistance with the real estate problem in America, that it should not be permanent. The only possible permanent changes will be to the financial regulatory system. If there be any financial assistance to the public, he proposes that it only go to those owning one residence, in order to save their own home, not those with second and third mortgages. McCain has been open to suggestions for solutions in the real estate area, but has not made the issue part of his campaign on the grounds that he does not want to make any promises that would not be able to hold in the act that he is elected president.
The other front runner is Democratic candidate Barack Obama. He has proposed a plan for housing reform, which includes a system that is supposed to help with the well-known foreclosure issues. It talks about the federal government helping people with financial problems by refinancing existing mortgage loans or even possibly buying out those mortgages. He proposes changes of the regulatory system to keep closer a closer eye on financial institutions. He would also like to see those citizen’s who do have mortgages to be able to get better tax breaks.
The real estate issues in America are obviously very important to the public. Both front running presidential candidates recognize this. Where the two differ is on the amount of governmental involvement. Throughout U.S. history, presidential candidates have always addressed the issues that concern the public in their campaigns, but have not necessarily delivered, once elected to office. So even though Obama has made it clear what he wants to do with the real estate problem, does not mean that it will come to pass in the act that he is elected president. Republican candidate McCain has not taken a clear stance as to what he will do if he is elected, regarding the real estate issues, which is somewhat alarming. Regardless of which candidate is elected president, there is really no sure way to know what will happen with the falling real estate market in the United States.