What do you think Trump will do to help Real Estate?


Will Trump end real estate anti-laundering program?

  • Here’s the big question: Will Trump – who made his money as a developer – keep the heat on the real estateindustry? And if the administration of a developer-turned-president chooses not to renew or expand the regulations, will it be perceived as a conflict of interest? Unlike other industries where cash changes hands freely, real estate has few checks on buyers.
  • He’s going to have a decision to make as to his priorities: Do we want to curb this kind of money laundering? If so, is it worth curbing future real estate development?” For the Trump administration, any decision on the issue presents a conflict of interest, said Richard Painter, a former chief ethics lawyer for George W.
  • “And why? Because the president is a real estate developer who sells a lot of high-end units? Or because of a legitimate policy goal? No one will know.” As a developer, Trump signed licensing deals for several luxury condo towers in South Florida.
  • The agency has described the regulations – renewed for 180 days at a time – as a pilot program to decide if realestate deserves permanent anti-money laundering rules.

Source: Florida Realtors

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