Multi-Housing News recently worked on a piece regarding President Biden’s wide-ranging proposals and their potential impact on the industry. The piece included commentary from Andre Soroudi, Director of Acquisitions/Development of CGI+. Regarding Biden’s earlier proposal to take away the 1031 exchange, Andre says, “Transaction volume would drop. It would really alter the industry. “We work with a lot of private investors that want a 1031.”
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The real estate market is currently facing a period of uncertainty due to the economic impacts of the COVID-19 pandemic. Investors are worried about the potential for a prolonged recession, which could lead to a decrease in property values and a decrease in rental income. The uncertainty surrounding the future of the economy has caused investors to become more cautious about investing in real estate.
Aaron Cohen was interviewed by Multi-Housing News on how supply delays and inflation are slowing apartment renovations.