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Colliers Houston & Co.'s Houston

'Barack Obama needs to restore credibility and confidence in the economy.'

By Alyson Grala | Updated on November 09, 2008

Last week’s GlobeSt.com Quick Poll asked readers if the election will have a big impact on the industry. A total of 75% of voters responded with yes. David T. Houston, president of Colliers Houston & Co. in Teaneck and a member of Real Estate New Jersey’s editorial advisory board, talks to GlobeSt.com about each candidate’s CRE track record and where President-elect Barack Obama should go from here.

“While Barack Obama ran a good campaign, he has virtually no voting record in the Senate. He’s voted ‘present’ more often than he’s voted ‘yes’ or ‘no.’ Obama was the head of a Senate subcommittee on the war in Afghanistan and they never held a hearing. When asked why, he said ‘I’m too busy campaigning for President.’ I don’t think anybody has a clue as to what this guy is all about.

“John McCain, on the other hand, didn’t understand how to win. Let’s take the sub-prime meltdown, for instance. The Democrats were largely responsible for that, with Barney Frank and his committee deciding that Fannie Mae and Freddie Mac should be accepting more loans from people who didn’t qualify. Somehow, though, McCain never got this message out to people. He never explained that this wasn’t Bush’s doing. The fact that the house of cards came down seven years later is no surprise. There’s a reason you have lending standards.

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