Real Estate leaders from around the New York metropolitan area recently gathered with Friedman LLP for a lively and insightful industry forum. With the buzz around the presidential election, the discussion among participants turned to the effect that Trump will have on real estate locally, nationally and internationally.
Comments ranged from some skepticism to mild optimism and from general observations to quite specific expectations. Potential effects of Trump’s impact on real estate included remarks related to the direction of interest rates, the effect of deregulation and the repeal of Dodd-Frank, and the possibility of significant infrastructure spending and related job growth. Noting that Trump is a life-long real estate mogul from a real estate family, one observer concluded that the Trump Presidency will be positive for the real estate market.
Ultimately, the impact will depend upon Trump’s ability to formulate policies he can successfully get Congress to enact. With Republican control of the House and Senate, it may be easier for Trump than for recent Presidents to push through his agenda, but, for the moment, the direction is unclear and Congress and the incoming President don’t appear to have identical priorities.
Take a listen to what our attendees had to say and feel free to share your own views with us. As always, we will continue to keep you apprised as new information develops.