Fed shifts, ROAD to Housing Act, and CRE as an inflation hedge
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 moments01:31 Fed holds and policy shift07:37 ROAD to Housing Act bill timeline10:44 What the bill changes13:19 CRE winners and losers17:20 Housing data pullback21:07 Retail sales snapshot23:34 Is CRE an inflation hedge?33:31 Where to find our inflation hedge researchResources mentionedROAD 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
