Bloomberg: Real Estate Deals Vanish in New York
Landlords are cutting rents and prices, spooked lenders are holding back, and the industry loses hope for Trump tax cuts.
Some of this hesitancy, however, can be traced to Trump’s gilded door. Real estate investors worry that Trump’s industry-friendly tax cuts will fail to pass. At the same time, others figure that lower taxes and higher spending could spark inflation and rising interest rates—a liability in the debt-driven business.
“If the rules of the game they have been playing for 30 years might change, that gives investors pause,” said Dave Bragg, an analyst at Green Street Advisors LLC., a Newport Beach, California-based real estate research firm.
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