Doug Basile, senior portfolio specialist for the Select Equity team at Allspring Global Investments, is joined by colleagues Garth Newport, portfolio manager, and Joe Bachmann, senior research analyst and real estate sector head, as they discuss real estate investment trusts, or REITs, and the merits of owning them—particularly in the current market backdrop. This discussion is a follow-up to their recent blog post.
Among the more harmful effects of the COVID-19 pandemic has been the unprecedented inflation that has accompanied the recovery. The confluence of supply-chain issues and acute demand catalyzed by incessant monetary easing and fiscal spending has exacerbated rising prices, exhibited by the string of sharp increases in the Consumer Price Index. The unrelenting inflation coupled with the velocity at which interest rates have risen have wreaked havoc on markets this year.