The economy depends heavily on policies set forth by whatever administration is in office and who controls Congress.  Real estate values follow the economy and what policies the administration sets out. Things like EPA and the Labor Department and the Fed  can make business work well or, as we see now, be severely constrained by added costs with onerous regulations. EPA can make development easy or extremely difficult and costly. Rules about affordable housing, ADA, ozone, and you name it can add unbearable costs to development by adding hard costs or a lot of time.

In the end it all comes down to leadership. Something that is virtually absent in this president. Here is a guy who never worked for a living. He never ran anything. Never had employees even as a manager, and never made a payroll. He never risked his own money on a deal or a development. He never worked in finance, never made a mortgage, never negotiated a busted mortgage with a homeowner, and never had to fire anyone. He is totally inexperienced at anything to do with the economy, banking, real estate or business. Yet he is the president setting all sorts of policies, priorities, guidance for his cabinet secretaries, military generals, and setting the agenda for where government spends its money like Selindra. Or using stimulus money to pay back the teachers union instead of in support of small businesses who actually hire people. He never earned a big income, until he ran for president, so far as we know, so he has no idea that if you earn a  lot, then you invest in new ventures, or you buy stocks and bonds which provide the capital for business to grow and hire.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?


NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

GlobeSt

Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2024 ALM Global, LLC. All Rights Reserved.