Perspectivas
Why the U.S. Housing Boom Can Continue
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Global Multi-Asset Viewpoint
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septiembre 30, 2021
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Why the U.S. Housing Boom Can Continue |
Residential housing prices have been booming over the past 18 months in the U.S., Canada, Australia, New Zealand and the U.K. Housing-related components of inflation indices have accelerated, and revenues and earnings of home builders, suppliers and apartment REITs have boomed. However, doubts persist regarding the durability of the housing price boom and continued strength in housing inflation. Recent housing inflation readings have been sequentially softer, activity indicators in many housing markets have come down, and equity valuations in the housing supply chain have derated to extremely cheap levels. In this note we assess the outlook for the housing market in the U.S. and the implications for housing related inflation indicators as well as housing equities. We conclude that the market may be overly pessimistic, given strong underlying fundamentals.
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Head of Global Multi-Asset Team
Global Multi-Asset Team
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Managing Director
Global Multi-Asset Team
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