As the political environment in America heats up, and individuals begin to consider how the proposed government changes may impact their personal lives, it becomes more clear that everyone has a reason to be concerned. For those in the commercial real estate (CRE) market, the major concern is President’s proposed immigration party. Learn more about why the two are connected and discover how an experienced real estate lawyer can help you mitigate against any possible problems in your next commercial project.
Proposed Immigration Plan Could Impact CRE Market
Last month, President Trump announced that the number of immigrants allowed into the United States would decrease drastically over the next decade – to about half. Unfortunately, such a plan could negatively affect the CRE market is several ways. First, it could hurt the labor market. That, in turn, could impact the housing market. Secondly, the budding area of Chicago and its surrounding suburbs may be in trouble if the President’s legislation passes. Families may opt for another place to live. Businesses may leave. Worst of all, Illinois – a state that has been struggling tremendously with budgets and fiscal decisions – may never fully recover.
Protecting Your Financial Investment in Uncertain Times
Although individuals could simply move forward with their real estate transactions, despite the president’s proposed immigration cuts, doing so could be dangerous. For example, if an investor fails to consider the potential decline in new residents to a subdivision, they could struggle to sell their developed property, or they may lose money on it. Thankfully, it is possible to mitigate against the possible damage and risks of economic declines caused by politics and other factors.
First, land developers and real estate investors are encouraged to practice their due diligence before ever purchasing a property. The assistance of an attorney – before, during, and after this process – can help ensure that all factors have been considered. An attorney can also negotiate better deals and help you plan for the unexpected. Lastly, a lawyer can give you the time and energy you need to focus on the project at hand, which can improve the overall outcome.
Contact Our Naperville Real Estate Lawyers
Although it might be easy to look at the President’s proposed changes with disdain, the truth is that the real estate market is constantly changing and evolving. Lindell & Tessitore, P.C. can help you stay ahead of the curve. Dedicated and experienced, our Naperville real estate lawyers will do everything possible to help you make the right choices and decisions. Schedule a personalized consultation to get started. Call 630-778-3818 today.