T
he senior living real estate market is poised for significant growth, with Bill Killmer, senior vice president of legislative and political affairs at the Mortgage Bankers Association, predicting continued expansion in this niche. However, the rapid pace of change in the federal government since President Trump's inauguration may create challenges for commercial real estate as a whole.

    Killmer notes that the current administration is undertaking unprecedented changes, which can be described as "controlled chaos." The Department of Housing and Urban Development (HUD) has been targeted for transformation, with potential staff reductions through buyouts. The impact on HUD programs, such as Ginnie Mae and FHA, remains uncertain.

    The possible removal of Fannie Mae and Freddie Mac from conservatorship could also have a significant ripple effect on the industry, including seniors housing. Additionally, provisions in the 2017 Trump Tax Cuts and Jobs Act are set to expire at the end of the year, which could have a major financial impact on senior living real estate.

    Killmer emphasizes the importance of advocacy for senior living professionals, urging them to engage with elected officials and participate in events like the Mortgage Bankers Association's National Advocacy Conference. By doing so, they can explain their business realities and needs, ultimately shaping policy decisions that affect their industry.