The Republican primary in the state of Michigan was held this past January and the way that the two leading candidates approached this primary provides a fascinating primer on how real estate will fare in the next few years, depending on our reaction to the systemic changes that confront us.

Like much of the real estate industry, Michigan is in the doldrums, to put it mildly. In fact, many economists have describes Michigan as having been caught in a "one state recession" for quite some time now. Leading up to the primary, the two leading candidates took very different approaches in campaigning for votes.

Candidate #1 campaigned as the savior of the traditional auto industry while being critical of new fuel efficiency standards signed into law: "If you vote for me, when I get to Washington I'll make sure that the auto industry is not broken by these new standards but rather is provided the funding to get their jobs back".

Candidate #2 took a much different tack, confronting the systemic changes facing the auto industry head-on by telling voters the truth: "My friends, I regret to tell you that your old jobs are not coming back. The global economy is here to stay. But if we prepare, we can bring new and much better jobs to Michigan and to the rest of America. But know this: we will not thrive continuing the same-old, same-old. To compete successfully in the new order, we must prepare workers to seize the new opportunities." Read the rest of the article...