Inflation Is a Great Hedge for Real Estate Assets

Jeff Blau is the CEO of Related, one of the largest real estate developers around the country. He says interest rates are going up at this end and we have some real problems with office occupancy. New development is difficult because there's not a lot of financing or construction loans as costs go up so it makes harder to build. Inflation has been a good hedge against inflation but I think funds management business in real estate will be very strong next year.