USA Today: Brexit Unlikely to Roil U.S. Real Estate Sector, Experts Say
According to USA Today: The turmoil roiling the United Kingdom real estate market since the surprise Brexit outcome is unlikely to trigger similar impact for the U.S. real estate sector, industry experts predict.
"The fundamentals of U.S. real estate are positive," said Cedrik Lachance, director of U.S. REIT research at Green Street Advisors, a California-based real estate research firm. "That seems unchanged to us."
An average publicly traded U.S. real estate investment trust (REIT) has outperformed the Standard & Poor's 500 index by approximately 2.5% since the Brexit vote, said Lachance. However a group of roughly 10 U.S. REITs with more exposure to Europe in general have underperformed their peers, he said.
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