What a busy week for news - the election, further equity losses (some of the largest post election stock market losses on record), auto makers hanging on by a thread, national job market losses, rising unemployment – there’s a lot happening of significant import these days. 

As the excitement / shock / distraction of the election has quickly passed, many industries are working overtime to see how President-elect Obama’s potential policy stances might influence their activities over the next several years. 

You can bet the multifamily industry has particular interests and expectations of the new President; Multifamily Executive Online ran a piece on the 6th this week pondering how the industry might be affected. 

Those interviewed postulated that Obama’s primary / initial focus will be on affordable housing, as he’s been noted to voice support for a handful of affordable housing initiatives such as the Affordable Housing Trust Fund established by President Bush this past summer.  Expectations are that Obama will increase funding for Trust and Section 8 housing quickly given current economic conditions.  He has also spoken most specifically (though without detail) in terms of developing new affordable housing options, transit-oriented neighborhoods, and greener urban communities. 

Current economic conditions will likely forestall large initiatives in these areas, though many multifamily experts expect some direct help will be needed in dealing with the GSEs in making sure that they stay true to their (much less risky) mission in dealing with multifamily properties. 

We’ll dig up and report more specifics as multifamily industry leaders have a bit more time to react to the coming administration change. 

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