- Michael Alter
- Related Posts:
How Will President Obama Impact Commercial Real Estate? Part 1
With change expected to begin in Washington, D.C., on January 20, 2009, the commercial real estate industry is bracing itself for the incoming Obama administration and the 111th Congress. CoStar Advisor recently polled commercial real estate professionals on the top issues of the first 100 days. The resulting list includes such policy issues as saying “no” to capital-gains increases and other investment taxes; moving forcefully to stabilize the Treasury and capital markets; suspending market rules regulating perceived asset value; making the biggest investment in the public infrastructure since the 1950s; and reforming Fannie Mae and Freddie Mac.
The overall attitude within the industry, according to a poll by National Real Estate Investor, is negative because of Obama’s plan to hike taxes on dividend income, capital gains and high-earning individuals. The poll notes that 54 percent of responders are registered Republicans.
So, should our industry be wary of the new team?