Mitch Morgan, founder of Conshohocken’s Morgan Properties and lifelong Pennsylvanian, expressed cautious optimism following Donald Trump’s recent presidential victory, according to his interview with Forbes.

Morgan is a registered Republican but has supported Democrats in the past. Notably, he hosted a 2005 fundraiser for Senator Rick Santorum, attended by President George W. Bush. Despite varied political leanings, Morgan voted for Trump, citing disappointment with President Biden’s shift from centrist positions and concerns over his capacity for a second term.

Morgan was unsurprised by Pennsylvania’s swing to Trump. He noted anecdotal signs of shifting support, such as hesitant yet present voter sentiment.

Reflecting on the economy, Morgan expressed confidence in Trump’s potential positive impact on deregulation and business growth. 

“I’m the ultimate optimist,” he said, though he acknowledged challenges in housing and border issues.

Morgan’s industry outlook is also hopeful. Despite fluctuating interest rates, he reported strong performance in Morgan Properties’ portfolio and a trend of increasing rent retention.

“We actually just bought a $500 million portfolio…we’re ahead of budget in almost every state,” he shared. 

With rental growth stabilizing in states like Florida and Pennsylvania outperforming slightly, Morgan anticipates continued economic improvement, crediting Federal Reserve Chair Jerome Powell’s management of rate shifts for sustaining economic balance.

Read Mitch Morgan’s entire interview in Forbes.