Back Home4th Quarter Meets Political Progress
It is no secret that the next four years of having Donald Trump as the President of the United States will see many changes, especially in how the political sector within the Unites States will impact worldwide markets, especially the real estate industry.
For some, it is difficult to see Trump taking the seat at the White House, given his lack of political experience. However, this is not taking into consideration his years of experience as a man of business and how that has impacted the economy in and of itself. Damian Ghigliotty of The Real Deal quotes Trump in his latest article, Welcome to Trump Land: ‘ “I’ve spent my entire life in business, looking at the untapped potential in projects and in people all over the world,” Trump told supporters during a speech at the New York Hilton Midtown on the morning of his stunning win. “That is now what I want to do for our country” ‘ (1). He aims to look and see undervalued areas in America and begin to create value within those underserviced areas.
Of course, the goal of most great politicians is to better America and all of its citizens for the great good: so they can live a fulfilling and promising life (the epitome of The American Dream). Clearly, this is the goal that Donald Trump does have in mind as he moves forward as the President – elect. Ghigliotty continues to write, “so far, the billionaire Republican has made some key gains — such as winning over larger chunks of the real estate industry since he was elected” (1). Those in the real estate industry have realized the potential that this presidency has on the market and how it can be a powerful influence on the fronts of development, sales, and leasing. Moreover, having a President that approaches issues from the perspective of a businessman will provide a fresh perspective on both leadership and policy. More people have come to realize that having a leading influencer as the President of the United States will guide not only the real estate industry, but the country, into potential economic success in the coming years.
Since the election, the industry is beginning a shift and starting to balance out. In an article by Biz Journals, Anthony Noto writes that “both prices and the number of sales recorded were down, with 89 new development sales tallied, compared to 110 in the prior month” (2). The general industry consensus that upcoming doom was around the corner for the real estate market due to recently imposed laws and regulations under Democratic leadership seems to be no longer on the horizon, and rather industry analysts predict that there may be a real estate market turnaround similar to the stellar stock market Trump Rally that has been occurring since election day. It seems so far, that if nothing else, industry professionals are claiming that the New York City housing market is reaching “real estate” market equilibrium. Market equilibrium is a healthy state for the market where both buyers and sellers are essentially happy and the market is being “stimulated.”
Written By Kylie Keller
(1) The Real Deal
(2) Biz Journal
