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The Democratic US Senator from Delaware, Joe Biden, is soon to be “former-Senator” when he becomes US Vice President in January 2009, currently calls Wilmington, Delaware home.

His property is set on 1,803 sq ft and has 3 bedrooms, 2 bathrooms, a swimming pool all amongst a stunning setting (images from Google Earth).

Simon Turner

FYI: See more articles on Homes of the Rich & Famous, Luxury Homes, or the US Presidential Race

If you liked this article, you’ll probably also like to see Obama’s Chicago Home

It’s almost impossible to ignore the fact that the US election is just one day away (Sydney time). The need for change of any sort is more apparent than ever and the change is needed for both domestic and international reasons.

I have many friends and colleagues in the United States and they are some of the most genuine and hospitable people I have ever met. In the last few weeks I have travelled through New Zealand, Australia, USA, Britain and Ireland and the sentiment for change is unmistakable. It’s amazing how many people have negative comments to make about the American people – I always defend them and I have always enjoyed the company of my American friends.

I have never met George Bush or even spent time with John McCain or Sarah Palin (she was busy looking at Russia from her kitchen). However the CNN truth-o-meter has been a good guide on what we are to believe or forget.

In the last couple of days I have heard Barack Obama described as a socialist and someone wanting to “spread the wealth” around. This has been put forward by the Republicans and repeated again and again which just makes no sense. The US is in massive debt – how do they propose to pay if off?

The income tax system which operates currently in the United States is progressive (similar to that in Australia) – which means that the more you earn the higher the tax rate on your income. Without going into great deal this system has been approved by the Republicans for years – thus spreading the wealth around. Does that make them socialist too?

George W Bush reduced the income tax rates paid by the rich, however, the income tax system has still remained progressive and even though the Republicans have called “Dubya” many things, they have yet to call him a Socialist.

In short Obama wants to reinstate the income tax rates for high income earners to the same levels as they were when Bill Clinton was President , the US was in good shape and had a budget surplus. What could possibly be wrong with that?

There are so many more things we could discuss but in an effort to keep this piece short I will end by saying that the President has a greater responsibility than simply being the Commander-in-Chief. He or she also has to ensure that safety nets are in place for the less fortunate and I wholeheartedly endorse Barack Obama as the Democratic President of the United States.

Michael Marquette

FYI: Read more articles on the US Election, Obama and the Credit Crunch

It may not be too long until Barack Obama and his family call the White House in Washington their home. Until then, however, they’ll be making do with their property in Greenwood Avenue, Chicago, Illinois which was purchased in 2005 for $US1.65 million.

Simon Turner

FYI: More articles on Barrack Obama, the US Presidential Race, and Homes of the Rich & Famous

As part of our experience in the United States on this occasion both Simon and I found ourselves in the middle of a massive political rally in Philadelphia. With the Presidential Election only a few weeks away campaigning is in full swing throughout the country and some States have even started voting – although the results of the early voting will not be announced until official counting begins on election day (Nov 4, 2008).

As an Australian it was amazing to witness the passion of supporters for Barack Obama and John McCain and the extent to which they express their feelings. The Vice presidential candidates were also receiving plenty of attention with Sarah Palin opponents holding up signs, wearing anti-Republican t-shirts and printed with all sorts of slogans as well as chanting in unison.

I have never seen such passion for any election in Australia and although Police were on hand the rally remained no-violent – just very loud! Before leaving Philadelphia, we also witnessed the Hillary Clinton machine roll in and out of town – yes, she’s still going – and Simon and I visited the Liberty Bell which is a symbol for freedom for all people in the United States. The protests, rallies and the individuals mentioned are crystal clear evidence that the symbolism of the liberty bell is alive and well.

We were also fortunate enough to visit several properties throughout the city with Luxury Brokers who are part of the Who’s Who in Luxury Real Estate and compared the pricing of property in Philadelphia with that back home in Australia. Without hesitation Sydney is a far more expensive city for those looking to purchase real estate, showing the importance of property to Australia when considering both wealth creation and housing affordability.

Whatever the result of the Obama versus McCain election in the US , I believe Australia is well placed for buyer confidence to recover quickly after the stunning 1% (100 basis points) decrease in interest rates by the Reserve Bank and the overall health of the Australian financial system. The freedom’s, liberties and luxuries that we all enjoy show few signs of fading!

 

Michael Marquette

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