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The Election and Commercial Real Estate

Written by: Robert Bach Director of Research - Americas | Newmark

The surprise election of Donald Trump as the 45th president of the United States is likely to have far-reaching impacts on the economy, capital markets and, by extension, commercial real estate. The nature of these impacts is more opaque than in most election cycles, because policy discussions took a back seat to personalities during the candidates’ debates and speeches. Nevertheless, we can make some early observations based on a short policy statement titled “Donald Trump’s Contract with the American Voter,” written by three campaign advisors: investor Wilbur Ross, businessman Andy Puzder and economist Peter Navarro. The authors anticipate that the policies proposed in the statement will increase GDP from the 2.1% annualized rate that has prevailed in the current expansion to the range of 3.5% to 4.0%, although mainstream economists question this.

Here, very briefly, is an outline of the president-elect’s preliminary economic proposals and some commentary on the potential benefits and risks for the economy and, where applicable, commercial real estate:

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All information contained in this publication is derived from sources that are deemed to be reliable. However, Newmark has not verified any such information, and the same constitutes the statements and representations only of the source thereof, and not of Newmark. Any recipient of this publication should independently verify such information and all other information that may be material to any decision that recipient may make in response to this publication, and should consult with professionals of the recipient's choice with regard to all aspects of that decision, including its legal, financial, and tax aspects and implications. Any recipient of this publication may not, without the prior written approval of Newmark, distribute, disseminate, publish, transmit, copy, broadcast, upload, download, or in any other way reproduce this publication or any of the information it contains. This document is intended for informational purposes only and none of the content is intended to advise or otherwise recommend a specific strategy. It is not to be relied upon in any way to predict market movement, investment in securities, transactions, investment strategies or any other matter.

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