Current real estate pricing seems to be near the bottom of the cycle, creating a compelling entry point for investment. There is dislocation and pressure to sell certain assets. While macro uncertainty is high, we are cautiously optimistic about property fundamentals.

In our latest episode of RPM, Jeff Giller, Partner and Head of Real Estate, and Margaret McKnight, Partner and Head of Portfolio Solutions, rejoin co-host Maribel Yoo to discuss our 2H26 house views on the state of the real estate market.

Preferred strategies include:

  • Quality assets with in-place, durable income
  • Core+ and value-add strategies for income with upside
  • Recapitalization and distress buying opportunities for outsized return potential (still leaning core+ and value-add)
  • Debt strategies for income and defensive posturing

In this environment, it’s important to remember that real estate may provide significant benefits to investment portfolios. Historically, it has provided useful protection from inflationary shocks. We believe that its low correlation with the equity markets means it may deliver meaningful diversification.

Read the transcript here.

RPM is available on Apple PodcastsSpotify and YouTube—anywhere you normally get your podcasts. Subscribe today! 

Read the full 2H26 house views report

Learn more about StepStone Real Estate

StepStone Slate Logo
Privacy Overview

This website uses cookies so that we can provide you with the best user experience possible. Cookie information is stored in your browser and performs functions such as recognising you when you return to our website and helping our team to understand which sections of the website you find most interesting and useful.