...The commercial real estate industry always has an eye on Washington, D.C. The industry's trade associations keep tabs on legislation, organize lobbying and its political action committees funnel contributions to candidates...
...Today, however, political unrest is asserting itself in America in ways unseen in decades, creating the most uncertain political climate many commercial real estate investors have witnessed.
No one has any idea how the impasse in Washington will resolve itself.
"I have been around a long time and I haven't seen anything like this," says Stan Ross, chairman of the board of Southern California Lusk Center for Real Estate. "In the old days of the Ways and Means Committee, they would come in, talk, debate and beat each other up. But they would come up with solutions...Today we just seem to have a standstill on both sides."
Mass movements make the outlook even dicier. That normally wouldn't be a problem. But at the heart of the anger is the economy and the financial sector. Financial regulation and tax reform are on the agenda. How things play out will affect commercial real estate...
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