Washington’s political rancor is rippling across the nation’s real estate industry, as the recent federal shutdown has delayed a plan to unleash trillions in property investment in the country’s biggest cities and most impoverished communities.
Specifically, the delay has affected new rules for investing in so-called Opportunity Zones, and in the process has prevented many investors from exploiting one of program’s key benefits: the ability to sell long-held properties, more or less tax-free.
The…
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Alfred Serrano 