Three Counselors and other economic experts discussed with Bisnow the influence of politics on the U.S. economy and the commercial real estate industry.
“The economy is perking along at the same modest pace it has been since the recession. It’s not about to accelerate due to enthusiasm for Trump’s policies or decelerate, despite the recent weak readings on first-quarter GDP and March employment,” says Bob Bach, CRE.
“It is all still very ‘wait and see’ at this point, but there’s still a crying need for clear, definitive guidelines for any kind of change the current administration plans to execute. Market participants are waiting for that kind of leadership so that they can move forward with expansion plans, if any,” says Victor Calanog, CRE.
“Trump’s policies and accomplishments are idiosyncratic, so valuations, deal flow, etc., will oscillate from strong (the stay calm and carry on folks) to the worried class, which will proceed cautiously,” says Raymond Torto, CRE.