How would Bernie be for Real Estate?

Analyst 2 in RE - Comm

I'm not a politics guy but it seems like Sanders being the POTUS would be terrible for us real estate folks.

For those not Trump people..how would you be voting if Sanders wins the primary?

Comments (49)

Feb 26, 2020

Same as for everything else if he gets control of the senate too , terrible. I will be voting not Bernie that is my stance if I have to vote for trump so be it. The guy is a jerk but I like my job. Think of it like buying a stock, the CEO may be an ass but if it's the ass or the guy who will run the company into the ground, you know who you'd invest in.

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Most Helpful
Feb 26, 2020

I do not agree with Sanders, he is nowhere near my candidate, and I am actively organizing against him, but I will vote for Sanders over Trump if it comes to that. The future of democracy both here and abroad is more important than a theoretical marginal tax rate or capital gains rate increase.

Clearly he is not the ideal candidate for the industry or the economy as a whole, but neither is the rise of international authoritarianism or blatant corruption and incompetence throughout the Trump administration. There are not going to be mass real estate layoffs if Sanders is elected and he won't get a fraction of what he wants passed through Congress if he wins.

That said, if you live in an open primary state, or are yourselves a Democrat in a closed primary state, by all means vote against him. I am far from alone in believing that Sanders' nomination would lead to four more years of Trump.

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Feb 26, 2020

Sanders is far from the ideal candidate, but I think your beleif he has no shot in the general is largely a function of being a southern (read centrist) dem. Dems are not going to win the presidency by appealing to white southern voters... Almost any Democrat will beat Trump in the popular vote. A big key to victory for trump in 2016 Trump was winning in sates with large labor union membership like Michigan largely due his populist and anti trade rhetoric. Sanders appeals to a lot of these voters as well. He also appears to garner the most black and latino support of any primary candidate which will be necessary for a victory.

The only way democrats win is by driving voter turnout in potential swing states. Moderates don't drive turnout.

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Feb 26, 2020

So I agree with you on some level, but a couple things:

  • I'm both southern and a Democrat by adoption. Back in 2012 I was volunteering for Romney and living in a state that proved unbelievably crucial for 2016 and will do the same for 2020. While that certainly makes me a centrist, or center-left, establishmentarian, I'm not only speaking from my experience. The vast majority of my family still live in the state in question and are lifelong Democrats who voted for Trump for culture reasons. They would most definitely vote for a Democrat again. They would never vote for Bernie Sanders.
  • Sanders does not garner the most black support of any primary candidate. He does do well with Latinos.
  • You are completely correct that a Sanders victory would rely on turnout, particularly youth turnout, but so far in the primary, that turnout hasn't materialized. Turnout across the board is lower than 2008, minus some oddities like Nevada having early voting for the first time. Sanders would need an absolutely historic and unprecedented turnout to not just win, but also overcome all of the moderates would would either stay home or pick the devil they know over the "scary socialist" who yells at them.
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Feb 26, 2020
CRE:

The future of democracy both here and abroad is more important than a theoretical marginal tax rate or capital gains rate increase.

You feel it's safer in Sanders' hands? Genuinely asking.

The sentiment in my space has been and continues to be very pro-Trump. Shallow-bay/infill industrial is littered with local mom/pop tenants, and their bullishness has never been higher. And this is me, sitting in DC, which is honestly borderline communist. Owners are loving it because they're ripping rents during renewals.

I can understand the grief from a social aspect - the general population of DC has been miserable since his election.

Feb 26, 2020
logisdics:

You feel it's safer in Sanders' hands? Genuinely asking.

Yes.

While Sanders is also a populist and anti-establishment, I am more confident that he would put competent people in positions of power to steady the ship. Trump has made a habit of cutting the heads off of organizations throughout government and either installing lackies and sycophants as "acting leaders" - like he did with making idiot twitter troll Richard Grenell the acting head of national security, a position created after the intelligence failures of 9/11 - or simply leaving important positions unfilled - like the top health security official on the National Security Council whose job it would be to coordinate a response to the coronavirus.

I would rather a government that is functional but heading in a direction I do not personally agree with - thus is democracy at times - than a government that is dysfunctional and not only ill-equipped to deal with national security threats - such as Russian interference in our elections - but deny they even happen.

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Feb 27, 2020
MaherSabe:

oh no authoritarianism

shut up jew

Hates Jews? Cool with authoritarianism? Gotta love when people on the right come out as literal Nazis.

@WallStreetOasis.com - nuke this kid's account.

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  • Analyst 1 in IB - Restr
Feb 27, 2020

From a guy who consistently has the best takes on this board, this is one of the worst takes that I have ever seen on this board. In a universe where, by some confluence of tragic miracles, Bernie Sanders became POTUS and the Dems took the House & Senate down-ballot, the Republic would be irrevocably damaged and potentially not salvageable. This has not been the case w/ any other Democratic nominee in my lifetime and probably ever, but parties tend to re-align under their POTUS and, in this case, their POTUS would be a communist (said not for effect, but as a statement of fact).

The most difficult thing to undo at the governmental level is to roll-back entitlement programs, which is why it's never been done. When and if a president Sanders starts granting rights to healthcare, college, paid-leave, internet, healthy food, and anything else that anyone might want, those programs are going to survive his administration. All of this is beside the fact that his dumpster fire of a foreign policy would be fueled by an utter lack of knowledge on diplomatic matters, capitulation, acquiescence, and abdication of America's role on the world stage, w/ our void to be filled by the worst and most rapacious actors that emerge from the woodwork. I'll take just an utter lack of knowledge on Trump's end (and him surrounding himself w/ ppl who have knowledge, Bernie will surround himself w/ ppl who wouldn't) rather than everything else that comes w/ Sanders.

Also, fuck you (to Sanders). I'm not going to pay taxes out the nose to fund the bad decisions / lack of ability of others - I already pay way too much and would conscientiously object to paying 90% of what I do if it wouldn't end w/ armed men arresting me and throwing me in prison. Because I earned the money that I have specifically that I could have it.

Feb 26, 2020

Bernie has stated he will enact a national rent control bill if he's elected.... imagine what that will do to the industry.

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Feb 26, 2020
mIRRacle:

Bernie has stated he will enact a national rent control bill if he's elected.... imagine what that will do to the entire world economy.

Fixed that for ya.

Feb 26, 2020

Thank you sir!

Feb 26, 2020

As much as I want to vote for Bernie for universal healthcare, I disagree with almost the entirety of the rest of his platform. And almost everything else is more politically feasible than universal healthcare oddly enough so I'm probably going to sit this election out if it's Sanders vs Trump.

Feb 26, 2020

Where is 30T coming from? The guy literally called it nickels and dime-ing when Cooper asked him how much all of this will cost. Youre seriously going to put this guy in charge? The debt under Trump is already unbearable....

Feb 26, 2020

It would suck for rental property owners especially if they just bought a place hoping to jack the rent up. Interested to see what that would look like in NYC.

Feb 26, 2020
hunt4dollas:

It would suck for rental property owners especially if they just bought a place hoping to jack the rent up. Interested to see what that would look like in NYC.

You know rent control, while a terrible idea, already exists in NYC, right?

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Feb 26, 2020

It's as if they didn't learn their lesson the first time apartment buildings were burned down by landlords

Feb 26, 2020

No, I didn't , I don't rent out there yet. Coming to terms with the high rent and other things, I'll familiarize myself on the topic.

Feb 26, 2020

Imagine on a national level though. Investors that invest in real estate across the US will struggle to achieve sufficient NOI to justify new construction, which is already difficult given rising construction costs. I know very little about rent controls' impact on the NYC multifamily market, someone can chime in on that, I've heard it's mostly benefited renters who've rented for awhile that don't necessarily need the subsidy, not new renters struggling to get by. Imagine this effect across the US.

Feb 26, 2020

Bernie is campaigning as far left as he think he can get votes for. He wants to be much further. He's mentioned nationalizing utilities. He would be an absolute disaster for this country. bar none.

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Feb 26, 2020

would be the worst thing to ever happen to RE

Feb 26, 2020

Don't worry guys it's not gonna happen. Their entire party is imploding internally. Don's got it in the bag.

"Truth is like poetry. And most people fucking hate poetry."

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Feb 26, 2020

Under Sanders, REPE = Re-Education camp Private Equity.

On that front, the sky is the limit!

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Feb 27, 2020
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Feb 27, 2020