The President-Elect has promised to roll back a long list of rules and regulations, ranging from the Environmental Protection Agency’s Waters of the United States rule to the Department of Labor’s final rule on overtime pay. “All of which could potentially benefit apartment firms,” says Chetti.
However, laws like the Dodd–Frank Wall Street Reform and Consumer Protection Act of 2010 may be difficult to wipe away. “Congress can’t simply repeal Dodd-Frank. They would have to replace it with other legislation,” says Borsos.
Instead, the new Administration is likely to make more targeted changes. “Trump and many Republicans in Congress will likely be successful in unwinding at least some lending regulations, such as the risk retention rule,” says Parson. “That could certainly provide a boost, particularly now that regulators have commercial real estate lenders in their crosshairs.”
Recent Fair Housing regulations set by HUD are also likely to be targeted by a Trump White House. However, creating a rule like “Affirmatively Furthering Fair Housing” took years of public comments and other administrative requirements. Removing the rule would require a similar process.