P
resident Donald Trump began his second term on Monday, surrounded by familiar faces from the real estate industry and allies. In a speech after being sworn in, he declared "the golden age of America begins right now." Trump vowed to end diversity, equity, and inclusion policies in federal government and make it official that there are only two genders, male and female. He also announced plans to expand US influence into space.

    Trump's pro-business stance and pledge to combat inflation drew support from industry leaders like Elon Musk. However, his plans for steep tariffs on Chinese goods could drive up building costs. The president has signaled a flurry of executive orders, including one ending remote work policies for federal employees and another exploring the creation of an "External Revenue Service" to collect tariffs.

    Trump's cabinet includes several real estate executives, including Howard Lutnick as Secretary of Commerce and Bill Pulte as director of the Federal Housing Finance Agency. The administration aims to privatize Fannie Mae and Freddie Mac. Developer Steve Witkoff was appointed special envoy to the Middle East, while Charles Kushner will serve as US ambassador to France.

    The real estate industry is watching Trump's policies closely, particularly those related to Opportunity Zones, which are set to expire in 2025. The president has indicated a desire to increase the cap on state and local property tax deductions, a move that could benefit high-tax states.