That could boost some of the real estate stocks that were the early darlings of the pandemic.An Apartment For Rent sign seen in the Upper East Side of Manhattan.Rent growth for apartments looks to have peaked after a tremendous run in 2021, and that could boost some of the real estate stocks that were the early darlings of the pandemic.
Landlords dramatically slashed rents in 2020, as renters fled urban areas, only to return in 2021 and even more strongly this year. The new renters are younger and tend to have lower incomes, squeezing landlords to ease off on higher rates. The shift sets up an interesting opportunity for investors in apartment REITs, which soared in the first two years of the pandemic but have recently fallen off — in large part due to rising interest rates rather than fundamentals. REITs in general are high-yield, so they tend to be a low-interest-rate play for investors.
CNBC funny people ! One day ago it was out of control and today is no longer. Fake news is productive and your editing sucks
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