Published by FOX Business | November 6, 2024
It’s a "new day" for American investors and real estate tycoons, as former President Trump has been elected to serve as the nation's 47th president.
“I think that the fact that Donald Trump is our next president and people understand that he is pro-business, his agenda as far as real estate, I think that a lot of the smart money will continue to be invested in real estate,” BH Group President and founder Isaac Toledano told Fox News Digital on Wednesday.
“This is really good news. I think that the momentum is about to change big time.”
Following the former president’s projected win, market futures soared and the Dow, S&P and Nasdaq saw sizable gains. Bitcoin also blasted through and hit new $70,000 and $75,000 barriers in the early morning hours.
“I think that there is more billionaires today than yesterday,” Toledano reacted, “and I think those people will take some of the chips off the table, will take some of the profit. And if they are smart, they will continue to invest in real estate.”
On Thursday, the Federal Reserve is set to announce its latest rate decision. Toledano feels confident that the pressure is now on to lower rates sooner and more significantly with Trump readying for a second term.
“We do believe that we will have a very busy season,” the real estate developer said. “The last 18, 20 months, the market was waiting for some new change.”
“I do believe that the Fed will lower the rates this Thursday and will continue doing so during 2025,” he added. “I think that rates will go down fast. I think the Fed will be more aggressive. I think that President Trump’s agenda is clear to everybody… The fact that he had a lot of smart people around him, such as Elon Musk and others, would push him to honor everything that he said. And those people that supported him will make sure that he will honor every step and everything that he promised to deliver.”
“I do believe that the Fed will lower the rates this Thursday and will continue doing so during 2025,” he added. “I think that rates will go down fast. I think the Fed will be more aggressive. I think that President Trump’s agenda is clear to everybody… The fact that he had a lot of smart people around him, such as Elon Musk and others, would push him to honor everything that he said. And those people that supported him will make sure that he will honor every step and everything that he promised to deliver.”
