MIAMI—In an article written by GlobeSt.com's sister publication, ALM's Daily Business Review, Miami's wealthiest developers have contradicting views on how a Donald Trump presidency will shape the city's real estate-driven economy.
According to the article, billionaire developer Jorge Perez, who spoke Thursday on a panel hosted by the Urban Land Institute, noted Miami is a city heavily intertwined with global trade. If Trump were to restrict trade between the U.S. and foreign countries, namely Miami's Latin American neighbors, the South Florida economy could take a big hit.
And while the conversation was focused on South Florida's slowing condominium market, much of the rhetoric focused on how Trump's potential policy changes may bruise or boost the region's real estate market, the article states.
And this morning, GlobeSt.com's Jen LeClaire wrote that with Donald Trump heading to the White House in January, there is no shortage of experts predicting how banking, real estate, and the overall economic climate could shift as a result. Some bankers, she said, are predicting a seismic global mind shift will be immediate while actual change will take time, and the toss-up battleground State of Florida may feel the greatest impact.
The article states that according to a recent Federal Reserve survey of loan officers, US and foreign banks alike have made commercial real estate lending standards more stringent during a period when higher demand for commercial and land development loans have been reported. After years of near-zero interest rates, the tightening standards may be due a concern of a potential bubble in the sector and wanting to avoid moving into a commercial real estate crisis similar to the last.
Click here to read more of LeClaire's article and thoughts on Trump from FirstBank Florida's senior vice president and Commercial Banking Head, Mahesh Pattabhiraman.
Click here to read the full Daily Buisness Review article on Perez' views on Trump.
MIAMI—In an article written by GlobeSt.com's sister publication, ALM's Daily Business Review, Miami's wealthiest developers have contradicting views on how a Donald Trump presidency will shape the city's real estate-driven economy.
According to the article, billionaire developer Jorge Perez, who spoke Thursday on a panel hosted by the Urban Land Institute, noted Miami is a city heavily intertwined with global trade. If Trump were to restrict trade between the U.S. and foreign countries, namely Miami's Latin American neighbors, the South Florida economy could take a big hit.
And while the conversation was focused on South Florida's slowing condominium market, much of the rhetoric focused on how Trump's potential policy changes may bruise or boost the region's real estate market, the article states.
And this morning, GlobeSt.com's Jen LeClaire wrote that with Donald Trump heading to the White House in January, there is no shortage of experts predicting how banking, real estate, and the overall economic climate could shift as a result. Some bankers, she said, are predicting a seismic global mind shift will be immediate while actual change will take time, and the toss-up battleground State of Florida may feel the greatest impact.
The article states that according to a recent Federal Reserve survey of loan officers, US and foreign banks alike have made commercial real estate lending standards more stringent during a period when higher demand for commercial and land development loans have been reported. After years of near-zero interest rates, the tightening standards may be due a concern of a potential bubble in the sector and wanting to avoid moving into a commercial real estate crisis similar to the last.
Click here to read more of LeClaire's article and thoughts on Trump from FirstBank Florida's senior vice president and Commercial Banking Head, Mahesh Pattabhiraman.
Click here to read the full Daily Buisness Review article on Perez' views on Trump.
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