Recent Pricing Action - overdoneCanadian REIT in October performed poorly in the last month, in particular this past week was bad.
The biggest holder of Real Estate is not publically listed REITs but Private companies or direct holdings from pension funds, and asset managers.
In the AP earnings report they mentioned refinancing and renewing mortgages. On the residential front with CMHC financing it was mentioned approximately a 3.5% rate for 10 years. On the office side mortgages are still being offered with recent financings at the high 4s for 5 year terms.
The reduction in foreign students shouldn't be impacting residential REITs compared to the average non-Alberta focused REIT being down or flat in the last 5 years.
The recent fear of long term financing in the US not dropping back to pandemic (not a realistic event) is unlikely to change buyers and sellers of Commercial Real Estate.
Everyone might want to work from home but being realistic the average person is less productive from working from home. Businesses are wanting people back into the office.
Not saying that we are going back to high 90s occupancy in offices just that REITs should be closer valued on the underlying assets they own.