December 19 2017
I’ve noticed an uptick in the number of people who seem to be concerned about an increase in the inflation rate, and the number of people who have inquired whether real estate—and REITs in particular—provide “a hedge against inflation.”
Of course there is substantial disagreement as to whether we are at imminent risk of increased inflation, but the concern is that tightness in employment markets may drive up wage growth, which could then drive up the price level. So I thought it would be a good time to review the historical evidence on the relationship between high inflation and REIT returns.
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(Source: Nareit)