After three weeks of losses, real estate investment trusts (REITs) in the US bounced last week, posting the strongest gain for the major asset classes, based on a set of exchange-traded funds.
Vanguard US Real Estate (VNQ) jumped 5.2%, the first weekly advance for the fund in four weeks, based on US trading through the July 2 close.
The rally comes at a time of heightened uncertainty for commercial property. As The Economist notes, the coronavirus pandemic “has severely impaired tenants’ ability to pay rent. It also raises questions about where shopping, work or leisure