As the presidency of Donald Trump enters its tumultuous second full month, speculations regarding his administration’s policies on the economy, the environment, and immigration remain, in a word, tense. Contentious political climate aside, some economists and real estate experts are already weighing in on the impact of the Trump administration on the white-hot luxury housing market.
Some developers in coastal markets such as Miami, New York, and Los Angeles are expressing optimism that Trump’s business favorability will sustain the influx of international buyers looking for multi-million dollar residences in the U.S.
Economists note that while the American luxury housing market never lost its appeal, recent years have not been kind - somewhat in Miami, where Trump himself holds several properties branded in his name. The Great Recession a decade ago resulted in an abundance of properties without buyers, and international factors in Central and South America contributed to a leveling in sales.