Certain assets, asset classes and investing instruments become the talk of the year. A few years ago, it was crowdfunding and cannabis. A year later people couldn’t stop talking about opportunity zones. Then interval funds were in the mouths of babes and sages. Student housing had its moment as well. When we harken back to 2021, we will likely recall the mantra “1031 exchange” — the provision of the U.S. tax code that allows people to swap of one investment property for another while deferring capital gains taxes. It one of the many tax breaks real estate investors benefit from, and perhaps even feel entitled to. That is until, of course, Section 1031 of the tax code is revised by a new presidential administration.