The need to upgrade bridges, roads, airports and public transithas been obvious for many years--and tragically illustrated withthe bridge collapse in Minnesota last year. It was also part ofObama's economic plan on the campaign trail, so it comes to littlesurprise that Obama is incorporating infrastructure upgrades into alarger stimulus package. "It would be a good thing for real estateand the nation," says Steve Pumper, executive managing director ofInvestment Services Group at Transwestern.

What may be more of a surprise to political watchers is that italso appears that Obama is edging away from his earlier positionson taxes as the extent of the economic downturn becomes clearerevery day. One oft-cited recipe for fighting recession is thatraising taxes during a period of decline is a no-no. Obama'seconomic advisors have hinted to the media over the weekend thatPresident Obama will not repeal the tax cuts for wealthyindividuals earlier than their scheduled 2010 sunset date. Some inthe real estate community are hopeful this attitude will beextended to other taxes that Obama has proposed on the campaigntrail.

"I think when the time comes, he will also step away from hisposition on carried interest," an attorney active in commercialreal estate deals, predicts to GlobeSt.com. Carried Interest is thepercentage of a fund's, joint venture's or limited partnership'sprofits that a general partner takes as compensation. Such profitsare taxed at capital gains rates--15%--as opposed to ordinaryincome, which can be as much as 35%. Obama has proposed changingthe characterization to ordinary income.