Investors See Real Estate as Best Hedge Against Inflation

Real estate has tumbled in recent months, with the FTSE Nareit REIT index slipping 11.95% year to date

So you may not be shocked by answers to a question in a Deutsche Bank survey of more than 560 investors.

The bank asked, should inflation remain between 3% and 5% over the next decade, which asset class would you most want to buy and hold over the period?

· Property 43% · Developed-market equities 33%

· Gold 15% · Cash 4%

· Developed-market credit 3% · Developed-market government bonds 2% · Cryptocurrencies 1%

if inflation is as high as 3% to 5%, the Federal Reserve isn’t raising rates high enough to push the economy into a downturn.

on a scale of zero to 10, with zero meaning no bubble and 10 meaning an extreme bubble, respondents on average gave bitcoin a 7.4 and U.S. technology stocks a 5.9.