After the resounding victory for Obama in the year 2008, there was extreme hope in the Democratic Party with people looking for a change in policy and government issues. Once he took over as President, there was a difference in a couple of tax laws but in general, there was good real estate influx.
Job losses across a variety of belts in the country saw and still see many concerned about how to deal with foreclosure and huge mortgage bills. Due to recession taking over in a big way, on a global footing, the US also faced the heat, as did the government. It did not improve with the onslaught of monies being spent to tackle terrorism, which is a necessity across the board, but the concentration of spending on arms has been quite a dent in the exchequer.
From the perspective of the real estate market, it has gone through a series of highs and lows. Bad credit did the rounds accompanied by debt escalation and the real estate industry took a beating.
Interaction with global partners in the iron and steel industry to concentrate on high-rise buildings has improved the vertical landscape of the country. Naturally, with some of the apartment complexes being higher end, it definitely brought in revenue for the Obama administration.
The GDP has significantly improved over the past eight years probably because of continuity in office and workable government policies. Personal finance has been on the upswing with more people concentrating on putting down investments for long term goals.
Buying property has not been a hot favorite but rentals are on an upswing – you can put this down to floating population and limited monies for investment. Given the fact that job increases have been quite a constant, due to a sea change in policy and implementation, it has brought about some improvement.
The middle and upper income groups felt an improvement in their investment goals and are willing as of 2016 to make an investment in real estate. The lower income groups however have to wait it out after the elections to see how things pan out for them, based on the promises made by both sides.
As a whole, during the Obama regime, the country has seen a decent growth across the board. There is bound to be mixed reactions as to whether personal finance took a beating during his time, but the bottom line is that President Obama definitely brought change to America.