Blumberg of Blumberg Capital Investors

Will Obama’s Recovery Plan Help CRE?

Last week’s GlobeSt.com Quick Poll asked readers whether or not our new president’s economic recovery plan would help the commercial real estate industry. It was a close call, but 55% of our nearly 770 respondents voted “no,” with the remainder thinking Barack Obama’s will work. Philip Blumberg, founder of Coral Gables, FL-based Blumberg Capital Partners was in the minority. He spoke with GlobeSt.com recently about why he has hope in Obama’s plan.

I am a fiscal Republican, but a registered Democrat, and he has made a very strong impression on fiscally conservative people. He’s taken a very common-sense approach. But his plan is in formation. To the degree that he seems fiscally aware of the potential impacts of a highly inflationary economy because of government spending, it’s refreshing to hear from a Democrat, particularly the most important Democrat.