Professor Victor Hackett shares his expertise on the Opportunity Zone Program, established by the U.S. Congress in December 2017 through the Tax Cuts and Jobs Act. Victor teaches Real Estate Studies at Drexel University’s Lebow College of Business, with a professional background that includes fund level management, fund financial modeling, as well as real estate acquisitions, dispositions and project management. In Part 1 the development of the OZ program is chronicled, originating as the child of a think tank in Washington DC, supported by Sean Parker of Napster and Facebook fame. Victor presents some of the real life possibilities and examples of people from different walks of life who are creatively adapting their businesses to opportunity zone funds. Professor Hackett also discusses the historical relationship between a significant market drop, yield curve inversions and probability of a recession.
