Resource Logo

Hello, you are using an old browser that's unsafe and no longer supported. Please consider updating your browser to a newer version, or downloading a modern browser.

Talk to Our Team

Fed Patience is Now a Pivot

The Federal Reserve is taking the controls of a slowing, but (still) growing economy. We believe economic data does not require a sudden easing in monetary policy. Yet, the Fed may be acquiescing to markets spooked by typical late-cycle fears, tepid inflation, and a burgeoning trade war with China.

Does This Look Like a Recession?

Job Market Strength

Initial Jobless Claims Don't Support Layoff Worries1

0.00 K
At the height of the Great Recession, claims for unemployment hit 661,000.

Solid Wage Growth

Strong Wage Growth Indicates Consumer Health2

0.00 %
Year-over-year average hourly earnings are at or above three percent for the 10th straight month.

Service Expansion

Any Inkling of a Slowdown Has Not Hit Services3

ISM data indicates that non-manufacturing sectors are still expanding.

Stratification May Reward Active Managers

Cheaper debt will likely raise real estate values short term, providing the asset class a longer runway for growth. Long term, however, managers must avoid a blind bet on core, as sector potential diverges late cycle. Read our Q2 Real Estate Report.



The darling of commercial real estate, industrial supply remains in check as outsized demand fueled by ecommerce continues to spur growth.

Projected 5-year M-RevPAF




We expect low-productivity class-B and class-C malls to face significant bankruptcy risks as consumer preferences shift away from in-person purchases. While demand is also falling in class-A malls, they can deftly intermix online and in-store experiences to help preserve their business models.

Projected 5-year M-RevPAF




Affordability is the biggest factor buoying multifamily demand. Wage growth and a tight labor market are pushing more people into the housing market, but single-family home values are still cost prohibitive in and around gateway markets.

Projected 5-year M-RevPAF




Aging demographics and strong economics are driving demand for senior housing. As Boomers age, they prefer a maintenance-free lifestyle they can now afford thanks to a strong single-family housing market and the financial support of younger children.

Projected 5-year M-RevPAF



Senior Loan Income Premium to Corporate Bonds

Corporate bond yields reflect the Yield-to-Worst, or the lowest yield generated from the potential take-out dates. Bloomberg. S&P/LSTA Leveraged Loan Index Interest Index (Senior Secured Loans), Barclays U.S. Aggregate Total Return Value Index (Corporate Bonds). 6/30/16-6/30/19. Past performance is not indicative of future results. You cannot invest directly in an index.

Income is Taking Charge

In this environment, investors should look to expand their allocation to income-focused investments to drive returns. If default rates remain muted, senior loans offer an attractive income premium to investment-grade bonds.

View Our Q2 Credit Report +
Talk to Our Team

* These fields are required.

Emails and white papers can only be sent to financial advisors in Resource’s broker-dealer partnership network.

Resource is the marketing name for Resource Real Estate, LLC, Resource Alternative Advisor, LLC, and their affiliates. Resource may distribute certain products through Resource Securities LLC, a wholly owned broker/dealer, Member FINRA/SIPC


The information contained herein does not constitute an offer to sell or a solicitation to purchase securities. Such offers or solicitations can only be made by means of a prospectus. Prior to making any investment decision, you should read the applicable prospectus carefully and consider the risks, charges, expenses and other important information described therein. The value of your investments may decline, and you could lose some or all of your investment. To obtain a prospectus containing this and other information, please call (866) 773-4120 or download the file from Read the prospectus carefully before you invest.


Resource has two interval funds that are distributed by ALPS Distributors, Inc. (ALPS Distributors, Inc. 1290 Broadway, Suite 1100, Denver, CO 80203). Resource Alternative Advisor, LLC, Resource Real Estate, LLC, their affiliates, and ALPS Distributors, Inc. are not affiliated.


Performance data quoted represents past performance. Past performance is no guarantee of future results and investment returns and principal value of the Fund will fluctuate so that shares, when redeemed, may be worth more or less than their original cost. Current performance may be higher or lower than the performance data quoted above. For performance information current to the most recent month-end, please call toll-free (866) 773-4120 or visit


All statements and information other than statements of historical fact included on this website regarding strategy, future operations, financial position, estimated revenues, projected costs, prospects, plans and objectives of management are forward-looking statements. When used on this website, the words “could,” “believe,” “anticipate,” “intend,” “estimate,” “expect,” “project” and similar expressions are intended to identify forward-looking statements, although not all forward-looking statements contain such identifying words. You should not place undue influence on these forward-looking statements. Although we believe that our plans, intentions and expectations reflected in or suggested by the forward-looking statements we make on this website are reasonable, we can give no assurance that these plans, intentions or expectations will be achieved because of the number of risks and uncertainties, many of which are beyond our control, including but not limited to uncertainties concerning the properties being operated and sold or refinanced, leverage and meeting debt service obligations, operating properties in different locations throughout the U.S., general, market or business conditions and changes in laws or regulations. These cautionary statements qualify all forward-looking statements attributable to us or persons acting on our behalf. To check the background of Resource Securities LLC or any registered individual, please go to FINRA’s BrokerCheck.