Fly to Let investors who rent out property in America could see in increase in business due to the ‘Obama boom’.

The election of Barack Obama as the latest American President is expected to spark more interest in the United States that will see increased numbers of people visiting the country and a far more positive environment for property investors and the housing market.

According to research from the Association of British Travel Agents, (ABTA) more and more visitors will begin to flock to the country, eager to see what the new President does to alter the American way.

People who had been put off travelling to the country due to their negative feelings about George Bush will also now be more inclined to visit.

ABTA Spokesperson Frances Tuke said: “With the election of the 44th President Barack Obama, for many reasons, people will feel a whole new optimism.

“Many will be keen to experience the new landscape that is being created following the outcome of the presidential elections.”

ABTA’s research has also found that there has been a 21 percent increase in the number of Brits aged between 18 and 34 that are considering visiting the country since Obama won the Presidential race.

Currently property sales in the country are continuing to fall and desperate estate agents are calling for Obama to make revitalising the American property market a top priority.

The latest data from the National Association of Realtors (NAR) shows that sales contracts on existing homes fell by four percent in November and home prices and sales volumes have continued to decline.

NAR economists are urging the new Presidents and his advisors to start thinking about a stimulus plan that would offer incentives to borrowers and unclog the mortgage pipeline.

Economists also believe that the Federal Reserve will maintain the interest rate at a range of zero to 0.25 per cent, which is a historic low for the country.

UK based companies American Properties and themovechannel.com both agree that while consumer confidence and buying sentiment has been boosted by the election of a new president and by his proposals to revive the world’s largest economy, the Obama effect needs to kick in quickly to stop soaring unemployment and plummeting earnings.

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