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Bruce Arfsten

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1/20/2009 The Buzz

We've been experiencing all the buzz for the past several weeks about the new era coming upon us in the United States. We witnessed the historical inauguration today of Barack Obama as our new President, and we will now see if he can live up to all the expectations that have been placed on him. Doubtful that he can, as it has really escalated into much more than likely he would have ever imagined. As we go through the expected "honeymoon period" of his presidency, there is no doubt that we'll continue to hear much negativism from those opposed to him and/or his plans for the country -- that's a given. What is undeniable though is the incredible level of optimism that seems to have spread throughout much of the population. Whether this optimism is based on anything substantive or not, or if it's merely a feeling, I can't help but think that it will have a positive impact on our economy which can only benefit the real estate market. I think we all were looking for something to feel upbeat about after being hammered by negative news for so long. Perhaps these feelings of goodwill, or whatever they are, are enough to give a boost of confidence to the American consumer and provide a much-needed spark to home sales as well as the rest of the economy. Time will tell if the buzz is a bust or boom.

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