Industry News: Tariffs on China, Mexico, and Canada, CRE Refinance Concerns, and Trump Nominates Scott Turner for HUD Secretary
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Episode Overview
In this episode of The Land Development Podcast, host Ryan Glick is joined by co-host Charles Covey to discuss the latest industry news affecting land development and housing. The episode kicks off with a discussion on President-Elect Donald Trump’s proposed tariffs on goods from Mexico, Canada, and China, examining their potential ripple effects on the economy and development sector. Charles shares his perspective on whether these tariffs are strategic moves for negotiation or harbingers of higher costs in the industry.
Next, Ryan and Charles pivot to the challenges facing commercial real estate, particularly refinancing in today’s high-interest environment. With $950 billion in CRE loans maturing in 2024, they discuss the potential for defaults, the banks’ increasing reserves, and what this could mean for both office spaces and multifamily properties.
The conversation then turns to President Trump’s nomination of Scott Turner as HUD Secretary. Ryan and Charles dive into Turner’s background, from his NFL career to his leadership in the Opportunity Zones initiative, and what his appointment might signal for federal housing strategies.
Finally, the hosts touch on how state-level policies, especially in Texas, could shape development in the years ahead. With a legislative session on the horizon, they highlight the growing push to streamline regulatory processes and promote housing affordability.