With the first debate between Obama and McCain over, I’m curious who RMD readers think will be a better President for the reverse mortgage business. Personally, I think the candidate who will do a better job managing the financial crisis will be the best choice for the reverse mortgage business. In order for the reverse mortgage business to continue growing at the current pace we need some sort of a functioning forward business. But what candidate is the better choice to manage the housing crisis?
According to a recent survey which polled 2,016 U.S. adults found that 58% of Americans think that Obama will better address the current state of the housing market than McCain (42%). However, the survey which was conducted by Harris Interactive on behalf of Zillow was heavily influenced by whether respondents own a home.
For example, the spread between the two major candidates is much wider among those who have yet to become homeowners: 67% of non-homeowners think Obama will better address the housing market than McCain (33%). Among current homeowners, there is far less of a difference: 52% of homeowners think Obama will better address the market versus the 48% who think McCain will. See the chart below.
Who do you think will be better for the reverse mortgage business? Vote in the poll below and feel free to leave comments.