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Commentaries — May 19, 2006

Using REITs To Project Owners’ Equivalent Rent The returns for apartment REITs relative to all REITs are a leading indicator for owners’ equivalent rent; these relative returns are led in turn by mortgage rates. This suggests inexorable and inevitable upward pressure on the CPI in the months to come.

Open Using REITs To Project Owners’ Equivalent Rent
The returns for apartment REITs relative to all REITs are a leading indicator for owners’ equivalent rent; these relative returns are led in turn by mortgage rates. This suggests inexorable and inevitable upward pressure on the CPI in the months to come.