Obama election has "huge" impact on property buyers

Barack Obama's election as US president brightened the outlook of Britons looking to invest in property in the country, it has been suggested.

According to Mayfair International Realty, his election in November of last year has brought hope that the US property market, which has suffered due to the credit crunch, may be rejuvenated.

"People … are hopeful that he will make amends to the economy in the US, which will benefit us all in the long run," director of the real estate company Annette Reeve stated, adding that the "Obama effect" on the number of Britons who are looking at buying a home in the US has been "huge".

Last week the president took the first steps towards boosting the country's real estate sector by signing a new 75 billion USD (52 billion GBP) plan to reduce the number of foreclosures taking place and give those in negative equity the chance to remortgage so they will not have to lose their homes.

Like this? Then share with your friends and colleagues!