Despite the best efforts of the Democrats, the far left, CNN and others, Trump is taking office on January 20, and his entire cabinet will be confirmed. The efforts by all of these people to delegitimize his administration, and to disrupt the smooth functioning of the new administration has been not only disgraceful, but dangerous. Whatever the Russians may have done is nothing compared to what the Clintons and Democrats have done to try to make the new administration dysfunctional. America is the only loser if they had been successful. As it is they have damaged the credibility of democracy and the smooth functioning of the American government. It is a horrible precedent.
However, the Trump administration will be in power on January 20, and it is very clear the entire way Washington functions is going to change. Starting January 20 there will be a massive rollback of many regulations, and an entirely new emphasis on pro business and pro banking attitudes. This will also flow down to the state and city levels as the Republicans have now gotten control, or at least veto position in the majority of states and many local jurisdictions. We should see a substantial easing of the costly regulations on all levels of operations from the EPA to the Labor Dept. to the Justice Dept. Dodd-Frank will be amended despite the ravings of Elizabeth Warren and her cohort of left wing senators. This will be a battle and the press will put out all sorts of stories about how the big banks crushed little Minnie and all the others they can drag out to make a case against it. Freeing up the banks to lend again will mean reasonable risk will once again be allowed in lending. They will actually make construction loans to local developers even though the leverage levels will be tighter than before the crash. That is good for all of us. The irresponsible leverage levels and mezzanine debt allowed in the pre-2008 times was stupid and in the end did us all more harm than good.
Many of the EPA's grossly egregious regulations under clean water and clean air rules will be eliminated and hopefully should go back to sensible regulation, allowing responsible development at much lower regulatory cost. The regulations driven by Obama and Democratic legislative bodies at the state and city level have driven up costs and time delays that make many projects uneconomic and not worth the hassle. A brownfield land development project I am doing in California is the perfect example. We will be cleaning up an old brownfield site in a central location in the town. It is currently an eyesore and will be redeveloped to commercial, tax paying use. The city is begging for it to be developed. The state regulators, however, are being unbelievably difficult and delaying the progress of allowing us to move ahead, even though there are no real issues and it will eliminate a problem site. We will likely lose nine months over nonsense, have excess and unnecessary costs, and in the end the clean up will be no different than if they had just let us proceed quickly with the clean up plan we submitted, which will be the plan they finally approve. This is a classic example of how over regulation harms the local community and local tax bases, yet accomplishes absolutely nothing in terms of a better clean up plan.
Labor rules will be eased and that will allow developers and building managers to have much more flexibility to run their operations economically and efficiently, and to hire the best people instead of hiring by quotas of skin color, sexual orientation or some other requirement of “diversity”. We will hopefully no longer be forced to develop affordable housing or other things to satisfy some statistical quota, but instead will develop these projects because the reduced costs of development through deregulation, and better financing, will make such projects economically viable and sensible.
The views expressed here are the author's own.
As the Trump bullying of companies takes effect, and when taxes are dramatically cut and deregulation takes place, then we will see a lot more opportunity for industrial and commercial development. This will also revitalize some areas of cities that now are poor and crime ridden. If you have a long term view, and some guts, it would make sense to be buying old industrial sites in inner cities and preparing for redevelopment of these. It is likely there will be programs to encourage this development and a return of jobs to minority areas. That will, in time, mean more residential development and retail as well. It will take years, but if Trump can do as he says, and put cops back to being aggressive crime fighters, then this will work.
New York was transformed as was Times Square, by the Giuliani crime fighting program that has been copied successfully in other cities other than where liberals run the city. Places like Baltimore, Chicago and St Louis could once again be successful if the anti-cop, anti-white attitudes are overcome, and crime is dramatically reduced. If the Justice department stops trashing cops, making it impossible to do their jobs effectively, and instead helps them do their job, then crime will be reduced and a lot more young black men will be alive, and can get trained to do productive jobs, instead of joining gangs. CRE will win from this approach as these areas will present new opportunities to develop both commercial and residential. If Trump is successful in this effort, there will be a historic shift in the black community to the Republicans, and the whole notion government needing to dictate the lives of people in these communities, and to make them slaves to entitlement programs will change. If it works, then there will be substantial opportunities for CRE in these areas over the long term.
If the deregulation and pro business attitudes flow down to states and local levels, then more projects will get developed creating more jobs and more local tax revenue. A win for everyone.
Despite the best efforts of the Democrats, the far left, CNN and others, Trump is taking office on January 20, and his entire cabinet will be confirmed. The efforts by all of these people to delegitimize his administration, and to disrupt the smooth functioning of the new administration has been not only disgraceful, but dangerous. Whatever the Russians may have done is nothing compared to what the Clintons and Democrats have done to try to make the new administration dysfunctional. America is the only loser if they had been successful. As it is they have damaged the credibility of democracy and the smooth functioning of the American government. It is a horrible precedent.
However, the Trump administration will be in power on January 20, and it is very clear the entire way Washington functions is going to change. Starting January 20 there will be a massive rollback of many regulations, and an entirely new emphasis on pro business and pro banking attitudes. This will also flow down to the state and city levels as the Republicans have now gotten control, or at least veto position in the majority of states and many local jurisdictions. We should see a substantial easing of the costly regulations on all levels of operations from the EPA to the Labor Dept. to the Justice Dept. Dodd-Frank will be amended despite the ravings of Elizabeth Warren and her cohort of left wing senators. This will be a battle and the press will put out all sorts of stories about how the big banks crushed little Minnie and all the others they can drag out to make a case against it. Freeing up the banks to lend again will mean reasonable risk will once again be allowed in lending. They will actually make construction loans to local developers even though the leverage levels will be tighter than before the crash. That is good for all of us. The irresponsible leverage levels and mezzanine debt allowed in the pre-2008 times was stupid and in the end did us all more harm than good.
Many of the EPA's grossly egregious regulations under clean water and clean air rules will be eliminated and hopefully should go back to sensible regulation, allowing responsible development at much lower regulatory cost. The regulations driven by Obama and Democratic legislative bodies at the state and city level have driven up costs and time delays that make many projects uneconomic and not worth the hassle. A brownfield land development project I am doing in California is the perfect example. We will be cleaning up an old brownfield site in a central location in the town. It is currently an eyesore and will be redeveloped to commercial, tax paying use. The city is begging for it to be developed. The state regulators, however, are being unbelievably difficult and delaying the progress of allowing us to move ahead, even though there are no real issues and it will eliminate a problem site. We will likely lose nine months over nonsense, have excess and unnecessary costs, and in the end the clean up will be no different than if they had just let us proceed quickly with the clean up plan we submitted, which will be the plan they finally approve. This is a classic example of how over regulation harms the local community and local tax bases, yet accomplishes absolutely nothing in terms of a better clean up plan.
Labor rules will be eased and that will allow developers and building managers to have much more flexibility to run their operations economically and efficiently, and to hire the best people instead of hiring by quotas of skin color, sexual orientation or some other requirement of “diversity”. We will hopefully no longer be forced to develop affordable housing or other things to satisfy some statistical quota, but instead will develop these projects because the reduced costs of development through deregulation, and better financing, will make such projects economically viable and sensible.
The views expressed here are the author's own.
As the Trump bullying of companies takes effect, and when taxes are dramatically cut and deregulation takes place, then we will see a lot more opportunity for industrial and commercial development. This will also revitalize some areas of cities that now are poor and crime ridden. If you have a long term view, and some guts, it would make sense to be buying old industrial sites in inner cities and preparing for redevelopment of these. It is likely there will be programs to encourage this development and a return of jobs to minority areas. That will, in time, mean more residential development and retail as well. It will take years, but if Trump can do as he says, and put cops back to being aggressive crime fighters, then this will work.
If the deregulation and pro business attitudes flow down to states and local levels, then more projects will get developed creating more jobs and more local tax revenue. A win for everyone.
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