by G. Brian Davis | Last updated Apr 1, 2026 | Spark Blog |
The Short Version: Real estate spreads vs. corporate credit are back to 20-year historical norms after 20-25% repricing from 2021 peak 2021 pricing was the anomaly (free money, 3% rates, ZIRP), not 2026 pricing meaning current valuations are normal Institutional...
by G. Brian Davis | Last updated Mar 30, 2026 | Spark Blog |
The Short Version: Oil at $120/barrel is pushing inflation back up and keeping the Fed locked at 3.50-3.75%… rate cuts are off the table for now S&P dropped 4.55% in a week while mortgage rates climbed to 6.53%… volatility is spiking across the board...
by G. Brian Davis | Last updated Mar 27, 2026 | Spark Blog |
The Short Version: Something big is happening in institutional finance right now. Capital is rotating out of private credit and into real estate. JLL’s CEO described it firsthand. Why the exodus? Private credit yields have compressed. Default concerns are...
by G. Brian Davis | Last updated Mar 25, 2026 | Spark Blog |
The Short Version: The FIRE movement has a math problem most people don’t talk about. The 4% rule assumes steady returns. Markets don’t work that way. Sequence of returns risk is the killer. A bad market in your first few years of retirement can...
by G. Brian Davis | Last updated Mar 23, 2026 | Spark Blog |
The Short Version: Institutional money is rotating out of private credit and into real estate. JLL’s CEO described exactly this in meetings with major investors last week. Why the shift? Private credit spreads have compressed. Default concerns are rising....
by G. Brian Davis | Last updated Mar 21, 2026 | Spark Blog |
The Short Version: Selling a rental property triggers capital gains tax and depreciation recapture. Combined, you could easily lose 25-35% of your gains to taxes. A 1031 exchange lets you defer those taxes by rolling proceeds into a replacement property. But most...