Barack Obama will be inaugurated as the 44th President of the United States today, and all I can say is: I hope - I pray - that I’m wrong about him.
And, if four years from now it turns out I was wrong, I’ll admit at much. Here’s how I’ll make that judgment:
- Has the country been safe from terrorism and other enemies?
- Has the country’s national security secrets been protected from exposure to our enemies?
- Are my personal liberties at least as great as they are right now?
- Has my tax burden declined?
- Has the government reduced its role in the business sector and ceased taking ownership stakes in previously independent businesses?
What do you, as a real estate investor, expect from the Obama administration? And let’s be adult about this: Tell us what you expect based on what is good for real estate investors as compared with what Obama has publicly stated he expects to implement. This isn’t a time to blindly show your a** as an Obama supporter or detractor.
Let the games begin - and thanks for reading http://realestate.BryanEllis.com!
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19 Comments So Far»
I like your forum, Bryan, when it is filled with the useful real estate investment information you are so kind to share. But I find your political rants discouraging and misled.
For example, how can you use the bullet points to judge our new president when:
* the worst act of terrorism on American soil happened during the soon-to-be ex-president’s watch, a fact which many theorists believe led to the most misguided war in American history.
* never have our personal liberties been so greatly infringed upon as they have been during the soon-to-be ex-president’s watch.
* never has our treasury been raided nor our deficits so high (both current and projected) in the name of corporate welfare as they have been during the soon-to-be ex-president’s watch.
* never has the government had a bigger role in the business sector by taking ownership stakes in previously independent businesses as it has had over the last few months of the soon-to-be ex-president’s watch.
* we are in the midst of the worst financial crisis since the Great Depression. And it is projected to get much worse before it gets any better.
And you end it by imploring I be an adult, not blindly show my a** as an Obama supporter or detractor about this? Give me a “break”. The fact, given that the soon-to-be ex-president has been the worst in American history, is that no president could conceivably do worse.
How can you judge my standards of judgment? That’s intellectually weak, at very best. You didn’t even respond to my points of judgment, but rather decided to comment on the outgoing administration. I think it would be wise for you to look to the future rather than the past. That’s what I’m doing. — Bryan Ellis
I personally think that this is the beginning of the end of the United States as we know it. I believe that in a few short years, the U.N. will be running what’s left of the United States. The government will be in total control of all aspects of our lives. The only jobs with security will be government jobs. Christians will be blamed for all ills in society including terrorist attacks by Muslims. I also believe that the U.S. could possibly break up into smaller countries after several well placed and timed smart bombs are detonated on U.S. soil. Basically, I am preparing for the absolute worse.
While we were busy trying to make a living, the liberals were busy staging a takeover of our lives. We were asleep at the wheel. Unfortunately by the time most people realize what has happened, it will be too late. In the end, God is in control. Those that know the words of prayer need to start praying now. Only God can stop the coming judgment that is due America.
Sorry for all of the doom and gloom. Seeing Obama become the 44th president has got me all worked up. As Mr. Ellis stated, I hope that I am 100% wrong.
I will sit back and see. My doubts stem from his lack of experience. A single stint at the state legislature level, two years as a Senator and now he’s the most powerful man in the free world. No experience as a leader, business owner or commander in chief (governor). Hopefully, this wasn’t/isn’t change for change’s sake. He is now OUR president, not their president and he, as well as his staff and appointees, is in need of our prayers and support. And he needs UNCOMMON sense, because common sense is sorely lacking in DC and our country.
Well, I voted for the other guy, so I hope for the sake of our country that I was wrong as well. I believe however, that this is going to be another lesson in moving towards socialism, and that it seems that more people are wanting the government to do all their thinking for them, and just give them their monthly handouts. I hope I am wrong, and would love to be wrong on this occassion, but as an informed investor, I also know that a large part of the problem we are having right now with the economy and this housing meltdown, is because of the the same political party that we have just elected back into office.
“ACORN showed its colors again in 1991, by taking over the House Banking Committee room for two days to protest efforts to scale back the CRA. Obama represented ACORN in the Buycks-Roberson v. Citibank Fed. Sav. Bank, 1994 suit against redlining. Most significant of all, ACORN was the driving force behind a 1995 regulatory revision pushed through by the Clinton Administration that greatly expanded the CRA and laid the groundwork for the Fannie Mae, Freddie Mac borne financial crisis we now confront. Barack Obama was the attorney representing ACORN in this effort. With this new authority, ACORN used its subsidiary, ACORN Housing, to promote subprime loans more aggressively.”
In the end, we will see if we were wrong or not, but how can you expect something different, if you elect the same people that caused a majority of the problem. Also, if we remember back to 2001, we went to war because we were attacked on our very own soil, even though we had been experiencing terrorist attacks against our embassies, our military overseas, and our private citizens abroad, and the democrats in office did not seem to find it important until somebody caught Monica under Clinton’s desk, then it became important, to get the topic off Clinton’s zipper. Let us pray for our new president, that he does what is needed to get us back from this recession, and does what is best for the country as a whole and can keep us safe from those that would kill us because we are Americans.
Hi Brian,
You may wish to add to your list of conditions Has the Rule of Law been followed? and especially, Has the Constitution of the United States of America and the Bill of Rights, in its safeguards and intentions, been adhered to?
Mr. Ellis,
Each of your questions seem to reflect that those things have been addressed by the current administration.
As a country built on Faith in God, I see a huge missing element of Faith, where Obama is concerned. That, among a whole handful of other things, scares me. In his acceptance speech, the only time there was any mention of God, was the very end when he said, God bless America.
To me, having a man in control that seems to have turned his back on what this country was built on, tells me that where we’re going is not going to be good.
I fear this is the end of our country, as we’ve always known her to be. [Dare I use the "s" word?] In history, time and again, when a great and successful nation turned to socialism, it was the beginning of the end. Are we seeing that now?
I have a very close friend, with an IQ of about 170 who loves and believes in the man… I, as those before me, sincerely hope my so intelligent friend is right - and I am wrong… and that Obama will be good for America.
Okay everybody - I appreciate your comments. Let’s try to limit this to what you expect (hope) Obama will do that will have direct influence on real estate investors and real estate investing. Thanks!
Address your points of what is good for an investor versus bad, here I go.
We will have an idiot for Secretary of State and we will soon lose some major event of state sending the market further down causing lower consumer confidence and even lower housing prices.
We will soon have an even more complicated tax code run by a Treasury guy that doesn’t belive in paying his taxes but sure thinks everyone else should. Also the credit mess will get worse over time with him in charge as people tend to forget he is one of the pricipals in creating the current crisis.
Personal liberties will go away very fast as Obama and most of the leading Dems want to criminalize gun ownership and have stated their desire to do so over and over. This is a fundamental right from the constitution and every piece of the constitution taking away is just one step closer to a form of government that has little to no freedom for it’s subjects. (Subjects is the correct word here.)
Soon we will have a truly crushing deficit not the large but manageble one we have now. With this will come taxes at a level that may take us out of super- power status as it will really hurt our economy. Think about what happened to the Soviets if you want to see what a truly wrecked economy will do for a country.
The last point I will make has to do with energy. We will soon have an energy czar from the socialist lunatic fringe. Look at her credentials if you question this. She will not affect global warming one tiny bit but she would have us become a second world country tomorrow if she had her way.
These are not all of my points just a few of the more important ones. They are all interelated with housing and investing.
If you have too much fear about your personal liberty you change what you are doing. This always means people spend less.
If energy is so expensive the large open areas of the country can not survive, meaning most of the country west of the Mississippi river, this will crush our economy and cause shortages everywhere in the country.
Think about this one out of nine truck loads for commerce orginate in California. California is the seventh largest economy in the world, California runs on energy and we do not have one viable short term solution for the energy needs of our country. A socialist, extremist is not going to be the answer.
Taxation on a high corporate level and a high individual level will only make us more and more non-competitive on an international level, further driving down our economy.
The bottom line is all of the items I have covered here take money out of the private persons hands. If people are uncomfortable they don’t spend money. If they don’t have money or any means of getting money they don’t buy houses. They don’t even rent houses as they can not afford that either. Any who question this only need to look to the Phoenix, AZ or Portland, OR areas where both of these situations are playing out right now.
So I look to a bleak future with Obama as he is a person that grew up with a silver spoon in his mouth and no practical experience in anything but campaigning for office. He has never shown any willingness to be transparent, even though he preaches if for others. He understands nothing about business and has surrounded himself with people that like wise have no business experience. What I see is another Jimmy Carter and he really put the country in the toilet.
So Obama has a hard row to hoe and nobody to help him, so God help us all.
Expansion of Govt is costly and he will make sure of it as a Democrat - Getting into and controlling the mortgage industry, insurance, auto industry, is just the beginning.. how about speding another 18+ million for added security for his inaug.. shouldnt he say no we are in recession.. spend less.. just put him in a glass box like the pope. i know thats not 18+ million.. Guess he want to be the most extravagent spending president yet.. look he spend more then anyone just to get elected and on campaign, and Obama tv show.. im sorry were are in trouble this guy has no frugality.. lets send another set of checks to everyone.. and add some liquidity into the market.. Shoulda elected Ron Paul!! he tells it like it is..
Reading all of this doom and gloom has me to the point where I want to throw-up. We need to be prepared by adjusting our business to compete in a global econonmy because that is where we are headed, getting out of debt and preparing ourselves to be as self-reliant and self-sustaining as possible.
Then we need to stay away from the media as much as possible and plunge full steam ahead in our businesses until someone tells us we can’t, and then find ways around that.
I don’t see great things from this presidency, but I do believe in the spirit and drive of the American people. Until that is taken from us we need to continue on with business as usual.
Deborah
Very well stated. — Bryan Ellis
I believe the Greater D.C. area will have a real estate boom. This is not necessarily because of Obama but he will be involved in the pattern the growth exhibits. If the economy starts to get traction and perform then Federal spending will rise if it continues to slow then Federal spending will go up more dramatically. All of that spending money will get a nice vig removed by many hands in the Greater D.C. area. The expansion of these programs will require many people. Guess where they will need to live. Either way Obama will try to mold the type of real estate that wins and loses. It would appear section 8 and “low cost” housing should bloom. Probably radiating outward from the Greater D.C. area. The recent administration appeared to support every one owning a mortgage (or 2 or 3) whether they could afford one or not. I would think Obama will be focused on everyone having a “home” even if it is only 200 sq ft. That is a major priority shift and if the Feds don’t get crazy with draconian laws or even more dramatic nationalization in our market it should bode real well for owners of “affordable” multi-family commercial.
As far as banking it appears our government’s politicians have relinquished all control of that function based on anything approaching the publics’ interests. There is no dividing aisle in D.C. just a bunch of scared spineless politicians wearing different animal buttons on their lapels. The cake is already baked regarding banking. Unfortunately I don’t believe the cooks have a clue as to what flavor the cake is. Banking is a wild card. If Obama has a say in fixing it I believe it will be appearances only. I don’t believe a President can fix what they have no control over. They can only spin good results as theirs and bad results as someone else’s fault. If interest rates shoot up, presumably due to inflation, that would be good news for sharp investors as creative financing deals will be the norm. Properly leveraged multi-family is a wonderful way to ride out an inflation storm. Your biggest cost, the mortgage, is fixed while your income rises to approximate inflation. It will still be important to pick your market. Greater D.C. will likely be a good one. Others should do well also.
Basically, Obama (almost any President would be in the same position) can really only do harm to RE investors. This would be in the form of silly feel good laws to “protect” the consumer from honest investors. The crooked investors are already breaking the law in many cases. The worst harm would be a constant but unpredictable flow of significant laws (like a knee-jerk reaction to problems) that keep a RE investing business plan from really getting off the ground. I don’t see much good any President can do to help the RE investor other than stay out of the way and let folks do their job to clean up the mess the money folks have brought us.
We have seen the cure to our Nation’s woes, and it is us. Not government, not voting, not government programs, not the Federal Reserve, not the weather. The good news is that we are the solution. The President, Congress, and the Supreme Court has less power than a juror (that’s you if you are a citizen and did not “get out” of service) sitting in a jurors box. “The jury has the right to judge both the law as well as the fact in controversy. ” —John Jay, first Chief Justice of the United States
We have so much power yet we fail to use it and pretend people in recognized positions (anointed by us if the “right” person or our confused neighbor if not) are our solution. They rarely are.
How do you interpret your role with respect to our nation? OPPORTUNITYISNOWHERE
You have to admit he has organization skills that exceed any of the previous administrations.
With all due respect, the guy was just inaugurated today. I think it will be some time before any reasonable person - regardless of whether you like Obama or not - can make such a sweeping statement. — Bryan Ellis
As President he oversees what others responsible for their duties provide before him and makes the decision on what’s best for the country. Sometimes what is best for the country is not best for real estate investors, but by nature we have a tendency to remake ourselves based on the current market conditions and the rules set before us.
I don’t prey that the new President will do what he believes is best for the ccountry, because I feel he will. My concern has always been about people who don’t care about the country and make decisions based on what is best for them.
We still have too many Bernie Madoff’s running around without our knowledge.
What can we expect from the new administration? Will it be like the previous Republican President or the Democratic President prior to him? Here are some benchmarks that you can judge success or failure for the new administration?
1) Will the stock market decline more than 25% percent during his term of office like it did under Bush or will it increase more than 225% like it did under Clinton. An increasing stock market will increase property values and improve my net worth. So I hope he will be like Clinton.
Will I be able to get on a plane under the current President and not be treated like a known terrorist? I have visited almost 50 countries in my lifetime but only under the previous President did I become a “person of interest” when I boarded a plane because my name was on a list. Despite America being built upon some of the greatest rights afforded its citizens, I have no right to defend myself against being labeled a terrorist nor was I ever afforded due process. Will this President continue with a policy that restricts or liberties and rights that Bush started or will he go back to having the rights and liberties that made this country the greatest country on earth?
2) Will he be the second President to ever commit socialized policies started under Bush or will he allow for free market that has been the hallmark of America?
3) Will he continue the Bush policy that limits investors to 4 loan limits or reverse it back to the 10 loan limit that has existed under ever President since I turned of voting age? Will he continue to scapegoat investors as the source of the housing downturn or will he provide incentives to investors that will let us lead the housing market out of the downturn?
4) Since I turned 18 I never had any limit that said I could not participate in the American dream and purchase my own home, but under the previous President changes were made to FannieMae requirements that will NOT allow me to buy my own home. Will this President continue this restriction or not?
5) Will this President go out and invade a country that has never attacked America or threatened our national security and attempt to justify his actions by saying we are more secure or will this President provide the peace and prosperity that we had under Clinton? Will this President’s actions increase the number of people worldwide that hate America and vow to destroy it or will I be able to go back to being able to travel freely throughout the world without having fear that I may encounter one of these people that hate America now because of the actions of the President?
6) Will this President double our country’s national debt like the previous Republican president or will he generate budget surpluses for 7 or the 8 years of his reign as under the previous Democratic President? Or will he quadruple our national debt as what occurred under the 12 years of Reagan and Bush? The past 3 Republican presidents have created 78% of our country’s national debt. Will he continue to bankrupt this country like them or will we go back to budget surplus?
7) Will this President create a growing economy like we had under Clinton or prolong the economic downturn that Bush created? Will he be able to loose more jobs than Bush or will he add jobs like Clinton? These massive layoffs generally impact citizens that are more like to be renters than owners so this downturn is having a negative impact on investors with rental properties.
9) Will this President continue to label me as “un-patriotic” which was a moniker slapped upon me by the previous President because I did not agree with invading a country that has never attacked our country. Or will I be able to say I am “patriotic” under this current President?
In time we can use these benchmarks to determine the effectiveness of this new Administration.
Hi Bryan,
I have written to you before about how many so-called conservatives think that Jesse Jackson and Al Sharpton always speaks for the black community. I believed from the beginning that Barack Obama would win the White House. And not just because he was an African-American liberal Democrat. I have been, am, and will be a life-long Republican. If you haven’t guessed by now I am a born-again Christian and a black American. Lyndon Johnson and Obama are the only Democrats that I have voted for as presidents. I faithfully voted for all the GOP candidates.
You are probably thinking that I haven’t responded to your critiques of Obama’s possible policies. That’s because I know your thinking politically. I consider myself somewhat of a conservative. But not in the nature of the Rush Limbaughs, Sean Hannitys, etc. I think I’m more in the style of William F. Buckley, George H.W.Bush, ahnd Bill O’Reilly. These are thoughtful conservatives that were and are comfortable in their own skins. Its time for the GOP to return to being the party of Abe Lincoln that believed in uniting the country by doing the right thing and making tough choices when necessary. I was prepared to vote for Goldwater until he said he would not vote for the Civil Rights bill thus inferring that the rights of whites were more important than anybody else gaining rights under our Constitution.
God Grant us the serinity to accept the things I can not change,
The courage to change the things we can,
and the Wisdom to know the difference.
We can not change the past,
But we can fight for the future of our country
and I hope that some of the people writing here will be wise enough to know the difference.
No, Brian. What is intellectually weak is to ignore the faults and grave misjudgements of your party in order to disparage the ideals of another.
Since this reader (who I am sure is well-intentioned) is unwilling or unable to follow the parameters of this discussion, I’ll address it to the thousands of other readers who actually “get it”:
In my post that started this discussion, I specifically guided it as such: “What do you, as a real estate investor, expect from the Obama administration? And let’s be adult about this: Tell us what you expect based on what is good for real estate investors as compared with what Obama has publicly stated he expects to implement. This isn’t a time to blindly show your a** as an Obama supporter or detractor.”
So, to those of you who have commented on this thread as to how Obama’s presidency will affect real estate investors and investing, thank you - you’ve helped to provide good discourse in a reasonable way. To the one or two of you (including ‘reloanpro’) who refused to heed the simple “don’t show your a**” directive, you’ve done the work of exposing your own inability to have an adult conversation.
— Bryan Ellis
I am sorry to say, and I truly hope I am wrong, but I still suspect OBAMA will be one of the worst presidents this country has ever had. Further I think one of his most outstanding accomplishments will eb is the he’ll make Jimmy Carters presidency look outstanding. He (OBAMA) is already in such a short term has been a disaster, he wants to be more of a dictator than president. And he is not alone, he has plenty of equally distasteful folks in his cabinet. For being a transparency president he is certainly lacking, just with the current stimulus (what a joke) package. GOD BLESS AMERICA,
Oz is being proven right, Obama is showing how to triple the deficit while boosting joblessness. Now that is what the terrosts tried to do and couldn’t but Obama and his crew has managed to do it in only 9 months!
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