Trump’s Effect on Multifamily

In this month’s issue of Units, the National Apartment Association’s magazine, industry leaders sound off on the state of the multifamily industry amid a Congress and President struggling to pass a business-friendly agenda.  Click here for the full article.  Here are some quotes from the piece.

  • Camden Chairman and CEO Ric Campo said, “If Trump implements the policies he was talking about [during the campaign], the economy could do well over the next three to four years.  The fundamental policies, if they are enacted, are good for our business and business in general.”
  • “On the one hand, we have certainty about who is in there,” Campo says. “On the other hand, you don’t have certainty about the administration’s ability to get anything done.”
  • Jim Costello, Senior Vice President at Real Capital Analytics, said, “I don’t see the impact of Trump on the apartment sector. Really, I think the jury is still out on this topic. The issue is that they have not done anything yet on the issues that would matter such as tax policy and the status of the GSEs.”
  • “The Trump administration took office with a surprising amount of economic and financial market goodwill,” says Greg Mutz, Chairman and CEO of AMLI Residential. “Many pundits called the surge in the stock market and asset valuation upticks post-election a result of the ‘Trump effect.’ Markets made the bet that the combination of infrastructure spending, regulatory reform including Dodd-Frank tweaks, tax reform and fixing Obamacare would spur economic prosperity, encourage investment, improve job opportunities and increase wage growth.”

While most multifamily executives remain optimistic, they also appear to be growing frustrated with the inability of the Republican Congress and the Trump administration to pass meaningful legislation.

The article is timely and definitely worth the read.

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