I’m bullish on American real estate at this point, but don’t take my word for it listen to the CEO of Norway’s vast sovereign wealth fund.
The Norwegian parliament wants five percent of the fund’s assets invested in property, and Yngve Slyngstad tells Bloomberg that he thinks about a third of that should go to the United States. Since we’re talking about a $660 billion fund, that amounts to an $11 billion investment. Not bad. Interestingly, Slyngstad’s not looking at houses or apartments, but primarily interested in “large office complexes in major cities and developed malls.”