Episode Details

For their 100th episode, Cole Perry and Omar Eltorai cover three topics relevant to the CRE landscape right now. First, a new Fed era: Kevin Warsh's first meeting signaled less transparency, five active policy task forces, and markets now pricing in one to two rate hikes by year's end. Second, the Road to Housing Act has cleared both chambers (but a presidential signing is now in question after Trump canceled the ceremony pending passage of a separate voter ID bill). The episode breaks down what the institutional SFR ban, the build-to-rent provisions, and the supply-side reforms mean for investors if and when it becomes law. Third, Omar shares findings from forthcoming research re-examining whether CRE actually functions as an inflation hedge, and where the data says it does and doesn't hold up.

Key moments

01:31 Fed holds and policy shift

07:37 ROAD to Housing Act bill timeline

10:44 What the bill changes

13:19 CRE winners and losers

17:20 Housing data pullback

21:07 Retail sales snapshot

23:34 Is CRE an inflation hedge?

33:31 Where to find our inflation hedge research

Resources mentioned

ROAD to Housing Act: https://www.banking.senate.gov/imo/media/doc/bill_text_of_the_21st_century_road_to_housing_act.pdf

FOMC meeting: https://www.federalreserve.gov/monetarypolicy/fomcminutes20260318.htm