This is a difficult time–car companies that need a bailout, a declining stock market and foreclosures. But James Crumbaugh III is optimistic about the Obama Effect–a sense of optimism leading up to the new presidency.
“With the automotive bailout, real estate is bound to improve in the Michigan area and probably the entire rust belt, therefore improving Florida real estate. The retirees will be able to sell their homes in Michigan and retire to Florida or other states popular among retirees. The public works project will put hundreds of thousands of workers back to work and at good wages. I still believe we have a pent up demand for the last three years of buyers wanting to buy. Once these buyers are employed again and flush with income, the market will start to improve.”
Other positive signs include lower gas prices, lower mortgage rates, workers going back to work and lower real estate prices.