Without diving into the politics of it, how do you think the tariffs are going to affect multifamily?

Without diving into the politics of it, how do you think the tariffs are going to affect multifamily?

Feel free to expand in the comments. For example, clearly construction and development is going to be much differently impacted than other parts of multifamily.
 

Tariffs can raise costs in multifamily housing by making construction materials and maintenance supplies more expensive. This can lead to higher rents, delayed projects, and reduced affordability for renters. The actual impact depends on the tariffs and economic conditions.

Real estate, whether it's single OR multi-family, will always be a solid, long term play!

Irregardless of tariffs…

Short term will be slighly painful for most of the divisions but we are playing 4D chess here. The long term will help the US out with a lot of items which would cause a crash 1 to 2 years down the road. 🤞

Importing materials will be more expensive. So, in the long term, it will affect everyone.

We all saw increases in costs for goods during and after Covid and now anticipate more increases with the tariffs being implemented. Affordable housing is going to be more difficult to find.

Tariffs and ICE induced labor shortages (framing, roofing, concrete work) will drive costs upward. However, China’s sell off of US treasuries will drive mortgages higher, thereby forcing more young people into rental units. Demand for existing properties could skyrocket. Prolonged tariffs though could induce a recession or worse, recalibrating the entire economy, and transferring more wealth into the hands of the 1%. This could become worse than 2009 and 2020.

I'm interested to see what the outcome of the poll looks like from an executive standpoint. I think many are trying a wait and see approach.

Go long Mobile Homes and sheds.

There’s no short term 👍🏻, long term 👎🏻!

Short term, my guess is that people are less apt to move or make drastic financial decisions in the wake of financial uncertainty. This should have short term benefits for multifamily.

Long term, we’re going to see higher prices on new construction and in the abscess of rate cuts, this means less development- not good for multifamily.

For Florida the demand will TRUMP (no pun intended) any negatives related to cost or supply.

There are so many ways to look at this! From an investor perspective; The economic shifts are encouraging people to invest more of what they might traditionally place in the stock market, into multifamily. Our fundamentals are stable and strong in the short and long term- provided you invest with the right strategic partner. From an asset management perspective, I have deep consideration for how this impacts renters. They are being squeezed on cost from all fronts and I think will be seeking conservatively priced housing if they must move, and renewing if they don't have to. My investment management strategy is very much focused on reducing operating costs, especially on utilities and services. Capital expenses on stabilized assets are lean, mean, and focused on ROI (think solar, internet, sustainable measures to lower utility costs). On new construction, increased cost on construction will continue to impact underwriting and the success of deals, with the potential to slow supply and (long term) increase rents. These are my thoughts...today! I'm sure as I learn more, they will change