Michael Longo is an extraordinarily successful young broker at CBRE.
Longo primarily focuses on institutional buyers and is one of the youngest First Vice Presidents at the firm due to his hard work and deal making abilities. When interviewing him, he had multiple interesting things to say about the today’s real estate economy.
The first question he was asked was a controversial political inquiry, asking how President Trump’s presidency has influenced the real estate market. He was quick to say that he has seen an overall positive effect in the economy because of how things are going in general as well as policies like the tax cut plan and stimulus plan. They give more people and corporations a larger disposable income in order to create more jobs around America. However, he also said there is still extreme volatility in the market, so the economy and real estate industry as a whole can shift suddenly.
Additionally, he also addressed the fear of a recession. Longo said that he currently does not see any immediate danger or indicator in the market to have a major impasse or economic downturn. Debt levels have been very low, especially when compared to the past. Furthermore, the FED is raising interest rates which is a great sign showing the American people that they are confident that our economy is stable.