Real estate developers and politics go together like peanut butter and jelly in some ways. Not only do these individuals need friends in the government to help them get the approvals they need, but they also donate to elections and lobby for laws and guidelines that make real estate development easier. That’s precisely why feelings among developers are mixed after Trump’s election. Some are intrigued and hopeful, but others are downright terrified.
Real Estate Developers, Politics, and The Donald
Real estate developers are like any other group of people when it comes to politics. They want to do things that suit their own agendas, making it possible for them to make more money and pass laws that make their everyday lives easier. That’s why they spend so much time donating to campaigns and lobbying for candidates who support the things they do. Donald Trump started his career as a real estate developer, so one would think that Philadelphia-area real estate developers would be ecstatic to have one of their own in the White House. Some are, but others aren’t so sure.
Does Trump Really Fit the Mold?
In some ways, Donald Trump is the epitome of everything real estate developers would like to see in a president-elect. He speaks in a way that may be (and often is) offensive to some of the population, but regardless, it’s clearly calculated to give him an advantage. This makes many in the real estate industry happy. They believe that his effect on the powerful and his own self-interest in real estate will undoubtedly help their causes. On the flip side, there are some who claim that he’s like a cartoon caricature of the way the world sees a real estate tycoon – bold, egomaniacal, and relentlessly chasing down profit margins. Some wonder if this will put powerful people off the real estate industry, essentially making a mockery of it.
How the President-Elect Is Already Changing Things
Real estate developers in democratically-inclined Philadelphia are already feeling the winds of change, even before Trump’s inauguration. People are asking developers some personal questions, often fueled by their distrust of the president-elect. They want to know whether developers pay taxes, whether they have ever filed for bankruptcy (and how many times), and even whether they fail to pay their subcontractors as promised.
On the other hand, there are some Philly-area developers who think Trump could bring a breath of fresh air to the presidency and the real estate development industry. People who are close to Trump claim he’s a man with very strong family values who truly knows how to budget properly and get things done. This could be just what real estate development in Philadelphia – and other cities around the world – need to truly grow and succeed.
All in all, there are some significant changes coming to Philadelphia’s real estate industry, particularly in terms of development. New neighborhoods, shopping centers, and more are slated to pop up in the next few years, and Trump may play a starring role in making it happen.