Politics and Property Values

Politics and Property Values
How quickly a little bit of turmoil can defeat years of good government and transparancy will be demonstrated by the current situation in Nicaragua. For 15 years democracy and transparency have made steady progress in improving the real estate environment. I erroneously saw hopeful signs in Ortega’s election. He won a free and fair election and he and his administration vowed to clean up a lot of the issues that had been plaguing the real estate industry there. They were especially going to concentrate on title issues.
Now the new election for mayors comes and we see that he intends to be a standard latin strongman. In 1979 the Sandanistas replaced a dictator by force. In 2008 Ortega is behaving like a dictator himself. When he was elected, he promised he had changed. I don’t think anyone expected his change to be becoming what he had fought against for most of his life. I am sorely disappointed.
The results of this situation are yet to be seen in the real estate market. Our present economic climate will possibly used as an excuse for falling prices and slumping markets. It is really sad that a country like Nicaragua that was showing so much hope is sliding back into caos.

David Segrest is a REALTOR in Charlotte NC. His website is http://www.segrestrealty.com His email is david@segrestrealty.com