Housing.
I've been a bull on US residential housing for a long time. But with 30 year mortgages over 4% I am starting to lose my conviction. There is still a lack of new supply to meet demand, imo which means that listed players should all do well longer term but shorter term Im less convinced.
Low supply, high demand, is still driving the market; but I don't think these prices are sustainable, especially with interest rates rising. I think we continue to have a healthy 2022 as people who haven't, try to lock in the lower rates, but I believe demand will slow towards the end of '22 and into 2023. I'm staying away from housing for now.