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Rising Rates Pressure Property Values as REIT M&A Deals Pick Up

Bloomberg Markets
Monday, September 28, 2026 at 3:41 PM
~4 min read

Original Report

The multifamily, industrial and office sectors are likely to set this year's pace for global real estate capital flows while AI fuels the surge in data center transaction volume. Rick Romano, Head of...

The multifamily, industrial and office sectors are likely to set this year's pace for global real estate capital flows while AI fuels the surge in data center transaction volume. Rick Romano, Head of Global Real Estate Securities at PGIM Real Estate breaks down his outlook for the market. (Source: Bloomberg)

Glass House Analysis

Housing sits at the intersection of economic policy and the American Dream. For most families, their home represents their largest asset and their primary path to building generational wealth. When housing becomes unaffordable, the social fabric frays—young people delay family formation, workers can't relocate for better jobs, and communities lose the stability that comes from homeownership.

International economic policy has concrete impacts far beyond diplomatic circles. Tariffs show up in the price of goods at stores, supply chain disruptions affect whether products are on shelves, and trade tensions can mean job losses in export-dependent industries. The globalized economy means that decisions made abroad can affect workers and consumers domestically.

Energy prices affect virtually every aspect of daily life—from commuting costs to heating bills to the price of groceries (which must be transported). For working families, energy represents one of the most volatile and impactful line items in their budgets. Energy policy decisions ripple through the economy, affecting everything from manufacturing competitiveness to household financial stress.

The implications extend beyond the immediate news cycle. Every economic development creates ripples that affect employment, prices, and opportunities in ways that may not be immediately visible but are deeply felt. By tracking these connections, we can better understand how the economy truly works—not as an abstract machine, but as a human system shaped by and shaping the lives of millions.

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