The real estate sector (XLRE) has been underperforming as uncertainty surrounding potential Federal Reserve interest rate cuts weighs heavily on the industry. To provide insight into the current state of the US housing market, Fundrise CEO and Co-Founder Ben Miller and CenterSquare Senior Investment Strategist Uma Moriarity join Market Domination. Moriarity notes that shelter inflation is a significant component of the continued high inflation data, acknowledging that it is a "lagging indicator." However, she points out that "real-time shelter costs" are lower than what is being reported in inflation prints, suggesting that the fight against inflation is "trending in the right direction." With rate cuts still on the table, Moriarity believes the current high-rate environment is "providing a really good opportunity for investors today" in terms of real estate and homebuilder stocks. Echoing Moriarity's sentiment, Miller highlights that "real estate moves inversely with interest rates." While rates have peaked, he believes "there's much more room for the rates to come down." As rates decline, Miller anticipates it will provide a "huge tailwind for real estate." Additionally, he notes that the real estate sector is beginning to see a normalization, expressing optimism that the sector has "hit the bottom," which could present a favorable buying opportunity for investors. For more expert insight and the latest market action, click here to watch this full episode of Market Domination. This post was written by Angel Smith
Ryan Leonard is not joining the Washington Capitals for the playoffs after all, and will return to Boston College for his sophomore season. General manager Brian MacLellan confirmed that Wednesday, saying the organization's top prospect expressed a desire to play another season at the NCAA level before making the leap to the NHL. “We support Ryan’s decision to return to one of the best programs in the nation to continue his development,” MacLellan said in a statement.
The BBC travel series contestants did not display their best manners in the latest leg of the race.