Nareit Market Commentary

The Market Commentary blog on reit.com presents analysis of the macro- and micro-economic fundamentals impacting the REIT and commercial real estate industry. The Nareit economics team offers their commentary on the state of the market, the outlook for commercial real estate and breaking macroeconomic news. The opinions set forth here are solely those of its author(s), and do not necessarily reflect the views of the Nareit or its membership.

  • 10/1/2019

    REITs and Inflation Protection

    Real estate rents and values tend to increase when prices do, due in part to the fact that many leases are tied to inflation.
  • 9/19/2019

    Commercial Property Prices: Risk or Reward?

    Commercial property prices can be a double-edged sword. When they are rising, they can provide investors with solid capital gains above and beyond the income received from rents. But if they rise too rapidly and get ahead of fundamentals, investors risk losses from falling prices.
  • 9/11/2019

    What are Workers Telling Us About the Outlook for Real Estate?

    The JOLTS report on labor market turnover can help shed light on the outlook for the economy and for real estate.
  • 9/10/2019

    REIT Interest Exposures are Down—Especially in the Tails

    REITs have strengthened their balance sheets over the past decade, with average leverage and interest expense to NOI falling to historical lows. Averages, however, don’t reveal what is going on in the tails and if there are hidden pockets of risks.
  • 9/9/2019

    REITs Ramp Up Equity Issuance as Outlook Brightens

    REITs issued $19.2 billion in secondary offerings of common equity during the first half of 2019, which is more than they raised during the entire year of 2018.
  • 9/6/2019

    REITs Have Limited Exposure to WeWork

    Data from CoStar and S&P Global Market Intelligence show REITs have very little exposure to WeWork.
  • 9/5/2019

    Commercial Real Estate and REITs Get a Second Wind

    It is important during periods of market volatility and shifting economic fundamentals for investors to recall the concerns that not long ago dominated discussions about the outlook.
  • 8/28/2019

    Inverted Yield Curves, the Economy and REITs

    An inverted yield curve has preceded past recessions, yet other indicators today carry a stronger signal of a resilient economy.
  • 8/26/2019

    Will the Growing Trade War Clouds Rain on REITs and Real Estate?

    The economic forces that affect the demand for domestic U.S. commercial real estate differ from those affecting global corporations, and stock returns reflect these differences.
  • 8/21/2019

    REITs and Baseball

    One of the more common ways to describe the outlook for REITs is to pick which inning of a ballgame corresponds to today’s REIT market. For the past several years, most observers have said the market was in the seventh or eighth inning.

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