By approving the Financial CHOICE Act on June 8, House Republicans assailed the Dodd-Frank Act, by resolving to make null the Volcker Rule and reducing powers held by the Consumer Financial Protection Bureau. House Financial Services Committee Chairman Jeb Hensarling (R-Texas) said June 7 that “Dodd-Frank represents the greatest regulatory burden on our economy, more so than all the other Obama-era regulations combined.” (Via NPR)
Lenders and financiers don’t feel nearly as confident as other commercial real estate players, at least, according to speakers at the June 8 meeting of Commercial Real Estate Finance Council (CREFC) in Washington, D.C. There is only so much capital to go around for deals – and this point of the cycle has grown quite competitive. “We’re the only game in town,” Trimont Real Estate Advisors CEO Brian Ward said of American real estate at the recent CREFC event. But in the U.S., “there’s a [finite] basket of deals” that everyone is chasing, “with a massive amount of capital,” Ward said. Next year is a major question mark. “If someone says ‘it’s awesome,’ they are insane,” according to Ward. (Via Commercial Observer)
In a newly released Pew Research study, nearly 60% of Americans called the current U.S. economic environment “good.” It appears we’ve been on a positive trajectory – only 17% said the same in 2009. As it relates to the real estate cycle, positive sentiment bodes well for leasing agreements finalized now. But the future outlook is not so rosy. About two-thirds of Americans said children growing up now will not reach the financial level their parents did. (Via Commercial Property Executive)
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