John Worth is the Executive Vice President for research and investor outreach at Nareit. He conducts REIT-focused research, works with Nareit's sponsored research partners, and participates in outreach activities with investors, analysts, and policymakers.
The concerns investors have is about the entirety of the office space and whether demand is going to grow post-Covid the way it was growing pre-Covid. That’s a more systemic issue.
At the beginning of the crisis we saw a residential selloff. That turned out to be unfounded. Overall, we’ve seen people have returned to the central business districts. People want downtown living, even if they don’t want to go back to the office.
The country’s housing market is expected to cool in 2022 as mortgage rates tick up and inventory is expected to increase, experts say.
The REIT wades into a market where publicly traded multifamily owner-operators today want less exposure, not more.