I am writing this on Election Day, and I have been mulling over what it must feel like to go to bed and realize that you may be the next President of the United States. Pretty cool. If you win, you get great perks: a couple of 747’s, a nice house with plenty of staff, great travel, and a huge advance on your memoirs in 4 to 8 years. Unfortunately, whoever wins today will assume office at a calamitous time, when the financial underpinnings of the world economy are terribly fragile. However, a little closer to home, the next President will also have a significant impact on the future of the real estate industry. The way he and Congress navigate the credit crisis, tax policy on capital gains, and address a crumbling infrastructure will be simultaneously precarious and vital to our nation's future. I hope we, as a people, make the right choice. After all, we deserve it after two years of listening to the longest presidential campaign in US history!
