A 3.5% annual jump in CPI inflation numbers has led investors and experts to rethink their expectations of an interest rate cut in mid-year 2024, but Blackstone's recent agreement to acquire Apartment Income REIT Corp. for $10 billion could spark greater investment activity in spite of elevated interest rates, especially given the improving fundamentals in the apartment market.
Sources discussed in this episode:
CPI: “Consumer Price Index, March 2024” - https://www.bls.gov/news.release/cpi.nr0.htm
The Wall Street Journal: “Blackstone Making $10 Billion Multifamily Purchase, Going on the Real Estate Offensive” - https://www.wsj.com/real-estate/blackstone-making-10-billion-multifamily-purchase-going-on-the-real-estate-offensive-f3126928
Yardi Matrix: “Multifamily Sets Strong Early Tone in 2024” - https://www.yardimatrix.com/publications/download/file/5355-MatrixMultifamilyNationalReport-March2024
RealPage: “RealPage Slightly Strengthens Forecast in Most Apartment Markets Based on Economic Indicators” - https://www.realpage.com/analytics/1q24-foreast-update/
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