Originally published on October 16, 2024 by Toby Burke for NAIOP.
U.S. citizens will go to the polls on Nov. 5 to cast their votes in the 2024 election at each level of government. The outcome of this election may have an impact on the policies affecting commercial real estate, the economy, communities and families. At the state level, 44 states will hold elections for representatives within their state legislature. The significance of the outcomes of these state elections cannot be overlooked in setting policy for the commercial real estate industry.
There are 5,808 state legislative seats up for election in November, according to the National Conference of State Legislatures (NCSL). This equates to 78% of all legislative seats. Therefore, these elections should not be overlooked in setting state policies that Impact the commercial real estate industry.
According to the NCSL, Republicans currently hold 4,023 out 7,386 legislative seats and control 58 of 98 legislative chambers. Republicans control both legislative chambers in 29 states compared to 19 states by the Democrats with a divided legislature. There are also states where one political party holds both legislative chambers and governorship, also known as the trifecta of government. The pre-election trifecta is 23 Republicans and 16 Democrats with 10 divided state governments.