Government decisions may affect CRE market

Government legislation could have an impact on the commercial market.

The landscape for many commercial property managers may change in the next few months, depending on what is done through government policymaking, according to National Real Estate Investor.

There are many economic and tax issues on the horizon that may affect the commercial market such as the fiscal cliff and several tax cuts that are set to expire at the end of the year. The waiting period for industry members will likely continue until there is a decision on the major issues affecting the economy, the news source explained.

"To get past this lukewarm recovery, we need some direction from Washington,"  Benjamin Breslau, director of Americas research for Jones Lang LaSalle, told the news source. "How do you make moves on capital until you understand the rules of the game?"

Regardless of what the president plans to do about these issues, legislation could be difficult, NREI added. This is because there is a split majority in Congress, which may slow down policymaking until later on. Economic growth may continue at a slow pace next year, but this could depend on how quickly these issues are resolved.

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