Andrew Smith
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- Milken Institute1h 1m
Opportunities in Global Real Estate | Global Conference 2025
Carol Massar, Debra Cafaro, Justin Kennedy, Andrew Smith, David Steinbach, Barry Sternlicht
A panel of financial experts including Debra, David, and Andrew debated the U.S. economy's long-term viability against rising deficits and deglobalization, while Barry warned that national leadership risks eroding without significant policy reforms. Simultaneously, the group identified a fundamental shift in the real estate market where supply constraints and geographic migration toward "Red States" are driving high returns in data centers, senior housing, and Texas residential lots. Despite these opportunities, investors face binary execution risks from construction bottlenecks and tariff uncertainties, prompting a strategic pivot toward specialized, demand-driven assets over commoditized properties.