Real Estate: An Obama Effect?

Will there be an “Obama effect” on the housing and real estate markets?

There’s a case to be made that a quickly-enacted economic stimulus package, continued rock-bottom mortgage interest rates, low inflation and improving consumer sentiment could begin to have that effect — at least in small measure.

One could argue that January’s bounce had nothing to do with the arrival of a new president and economic team in Washington, and was barely a notch over December’s number. But the positive fact is: the arrow pointed up not down.

The full story won’t be known for a year or more. But for housing, there’s no question that a tax credit with teeth, nonrepayable and with a use-it-or-lose-it deadline, can only spur additional sales, maybe several hundred thousand over the course of the coming 12 months, according to some housing group estimates.

What do you think? Could there be an “Obama Effect” to quickly turn things around, or do you think we’re still in for a long road to hoe? Leave us your comment below.. we’d love to hear from you.