Blackstone's Jon Gray Says He's Bullish on U.S. Housing

The video discusses the current state of the global real estate market, highlighting the mature phase of the cycle with rising rates and less distress. It focuses on Spain's recovery and India's growth, driven by business processing. The US residential market is analyzed, noting a housing shortage and upward price pressure due to a supply deficit. Despite higher mortgage rates, the market remains positive, especially in early-cycle areas, while caution is advised in high-end urban markets and regions affected by adverse tax changes.

What are the implications of supply and demand on housing prices according to the speaker?

What caution does the speaker express regarding high-end urban markets?