FLORHAM PARK, NJ-Superstorm Sandy had two effects on the 2012Marcus & Millichap Investor Symposium: itcompelled rescheduling the annual overview of the Garden Statemarket from its original date of Oct. 30, and it figured in thediscussion Wednesday morning at the Brooklake Country Club here.The postponement appeared to have little effect on attendance, butit did mean that both the storm and the uncertainty over electionresults were in the rearview mirror.

More to the point, though, while the outcome of the election isno longer in doubt, panelists cited continued uncertainty over itsimplications as well as over macroeconomic trends, as didPaul Arena, Marcus & Millichap’s regionalresearch director for the eastern US. “It’s obvious how consumersand businesses could be confused about the direction of theeconomy,” Arena said.

And Ronald Ladell, SVP of AvalonBayCommunities and a panelist in the symposium’s featuredpanel discussion, pointed out that even as the Nov. 6 electionsmade it clear who’d be president in 2013 and what the makeup of thenext Congress would be, a whole new election cycle began on Nov. 7.That was the unofficial start of the re-election campaigns of Gov.Chris Christie and the entire New Jersey Legislature.