THE GOOD THING ABOUT COMMERCIAL REAL
estate is that it’s pretty resilient. At its core, it’s
a tangible asset that isn’t as impacted by the
fluctuations of the broader stock market and
economic ups and downs. After all, businesses need space to house
their operations and people, those people all need somewhere to live
and will use their income to buy the household and personal goods that
they need, and the stores that sell those goods need to be supplied with
product to meet demand.
How much space businesses take, where people live and what they
shop for may vary according to how well the economy is doing, but the
general dynamic doesn’t really change.
Yet the new landscape in the White House and Congress and the
policies coming out of DC have the potential to shake up the world as
we’ve come to know it. Add to that the social unrest domestically, not to
mention the unease felt in many parts of the world, resulting from what’s
happening in our nation’s capital, and the climate is becoming increasingly uncertain.
And it’s this environment of uncertainty that’s making it difficult for
people in most businesses to make strategic decisions. Some of the
policies and executive orders will signal good news for commercial real
estate. The repeal of Dodd-Frank, for instance, will ease the restrictions placed on the capital markets and may allow for easier borrowing
and fund raising. That is, only if the industry doesn’t fall into the same
trap that brought us into the last recession. And the new administration
is planning to make infrastructure investment a priority—another plus,
although there are questions around how the program will be funded.
Yet others—such as curbs on trade and immigration, changes to
taxes and repeal of affordable healthcare—have the potential to negatively affect key drivers behind today’s commercial real estate market,
from demand for industrial and medical space to the growth of the
technology industry. We address some of these issues in this month’s
featured stories, and we’ll have ongoing coverage through our daily
It’s tough to (as many of our sources say) predict the unpredictable. (And
really, thanks to Twitter, few things are more unpredictable than our current
POTUS.) Yet one thing is certain: it’s most definitely a whole new world.
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