, Columnist
V-Shaped Real Estate Can Fly as a Recovery Bet
REITs, like airline stocks, are a play on the duration of the pandemic — only with extra yield.
Impervious to viruses.
Photographer: Ty Wright/Bloomberg
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Bricks and mortar are impervious to viruses. And if any sector of the U.S. economy has made a true V-shaped recovery, it appears to be home-building. The latest survey of the National Association of Home Builders shows that the proportion seeing decent conditions is back almost to its highs of the last few years — having never fallen to the depths of a decade ago after the housing bubble burst. The continued decline in benchmark mortgage rates has had a lot to do with it: