Less attention was paid to his tax proposals and with a unified Republican Congress behind him, he will be able to push through comprehensive tax reform. Indeed, there has been bipartisan rumblings aside from the election that tax reform is necessary given that Europe has been targeting US conglomerates, levying huge fines that — in the eyes of Congress — is taking away from US tax revenues. The most recent company in the EU's target range is Amazon — which could affect e-commerce and by extension industrial and warehouse product.

Trump has also promised to roll back regulations in housing and in energy and in finance — indeed he has said he will do away entirely with the Dodd-Frank Act. One rule stemming from Dodd-Frank is the risk-retention requirement for CMBS, set to go into effect at the end of this year. He has put forward a very plausible plan to increase infrastructure investment. He has also promised to scrap the Affordable Care Act in favor of something “better”. What that may be is unclear but if Trump and Congress dramatically reshape the health insurance market, it could have a significant impact on health care real estate.

Finally, the Uncertainty Is Over

Perhaps most important for CRE and the US economy at large, he will end the uncertainty that has been keeping companies from making capital investments and otherwise expanding. This was a point highlighted in the recent Real Estate Roundtable survey. “As moderate economic growth faced headwinds of political uncertainty and international volatility throughout 2016, leaders in CRE now await the policy consequences of the upcoming national elections in anticipation of the economy's future direction,” Roundtable CEO Jeff DeBoer said.

Or Is It?

But there is more to Trump than this laundry list of what he can accomplish. I now turn the mic over to one of GlobeSt.com's most popular contributors Joel Ross, principal at Citadel Realty Advisors, who wrote this week:

The bad news is Trump is nuts, and such a narcissist that there is no telling how many really bad things he will do which could offset the good ones. If he really starts to try to shut down trade, and to push to get [US Speaker of the House Paul Ryan] out of power or to set up confrontations with Republicans in the Senate, then lots of bad things can happen.

Ross concludes by advising readers “Whatever happens now is the time to stay safe and wait to see what happens. We will know a lot more by spring, and by summer it will be clear, although maybe awful.”

WASHINGTON, DC—Election night for the 2016 US presidential race turned out to be as unpredictable as the primaries and general campaign. Starting out the day with odds of winning as low as 10%, Donald Trump secured the US presidency. Not only that, he takes the helm of the country in the best possible of political scenarios—with both the Senate and the US House of Representatives remaining under Republican control.

He also is taking on a US economy that is in its seventh year of recovery, a notable achievement given that most recovery cycles last about five years. How will Trump continue to nurture this growth? What policies will he put in place regarding trade, taxes and immigration?

Trump's Policy Mix

Some of his stances are well known: he wants to build a wall to separate the US from Mexico, he wants stringent controls on immigration, he wants to bring back manufacturing jobs from overseas locations and has said he is willing to use trade and other areas as leverage to do so. Those were his high-profile and admittedly controversial policy positions on which he campaigned and he is unlikely to back away from them.

Less attention was paid to his tax proposals and with a unified Republican Congress behind him, he will be able to push through comprehensive tax reform. Indeed, there has been bipartisan rumblings aside from the election that tax reform is necessary given that Europe has been targeting US conglomerates, levying huge fines that — in the eyes of Congress — is taking away from US tax revenues. The most recent company in the EU's target range is Amazon — which could affect e-commerce and by extension industrial and warehouse product.

Trump has also promised to roll back regulations in housing and in energy and in finance — indeed he has said he will do away entirely with the Dodd-Frank Act. One rule stemming from Dodd-Frank is the risk-retention requirement for CMBS, set to go into effect at the end of this year. He has put forward a very plausible plan to increase infrastructure investment. He has also promised to scrap the Affordable Care Act in favor of something “better”. What that may be is unclear but if Trump and Congress dramatically reshape the health insurance market, it could have a significant impact on health care real estate.

Finally, the Uncertainty Is Over

Perhaps most important for CRE and the US economy at large, he will end the uncertainty that has been keeping companies from making capital investments and otherwise expanding. This was a point highlighted in the recent Real Estate Roundtable survey. “As moderate economic growth faced headwinds of political uncertainty and international volatility throughout 2016, leaders in CRE now await the policy consequences of the upcoming national elections in anticipation of the economy's future direction,” Roundtable CEO Jeff DeBoer said.

Or Is It?

But there is more to Trump than this laundry list of what he can accomplish. I now turn the mic over to one of GlobeSt.com's most popular contributors Joel Ross, principal at Citadel Realty Advisors, who wrote this week:

The bad news is Trump is nuts, and such a narcissist that there is no telling how many really bad things he will do which could offset the good ones. If he really starts to try to shut down trade, and to push to get [US Speaker of the House Paul Ryan] out of power or to set up confrontations with Republicans in the Senate, then lots of bad things can happen.

Ross concludes by advising readers “Whatever happens now is the time to stay safe and wait to see what happens. We will know a lot more by spring, and by summer it will be clear, although maybe awful.”