[jyl]

REIT wise, I own some multi-family (apartment) REITs. My logic is that mortgage rates and high prices are keeping people renting, the huge drop in new project starts in 2022-2023 mean new supply will dry up in 2025-2026, the big REITs tend to focus on states with population growth and no rent control, and current interest rates and bank aversion to CRE lending have developers in a bind so the big REITs can buy developments in lease-up for cheaper than they could build them.