6: Building homes for rent
Onward, a Fundrise Production
How Much Is Simon Property Group Down?
Simon Property Group is down so much. Flagship Fund has owned some liquid stocks and bonds. We sold them both earlier this year because we felt like the stock market was going to collapse. And you saw some of these good companies decline 20%. Our portfolios on average up about 5% through this half of the year. So they're down 20. We're up 5%. Why? Because our rent growth is pricing at a huge premium over interest rates. In normal times, you might be borrowing at 3 or 4% interest rate and rent growth is usually 3%.
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