In this episode of Durable Value, Ryan speaks with Jonathan Woloshin, Head of Real Estate Research for UBS Wealth Management's CIO Office. Jonathan shares insights on his role and expertise in the U.S. real estate market, from residential and commercial real estate to lodging, and discusses key trends and regulatory actions affecting the sector. The conversation touches on the historical context of real estate cycles, the challenges and opportunities in today's market, and investment strategies for different asset classes. Jonathan also shares his career on Wall Street and offers advice for young professionals entering the field.

00:00 Introduction
00:37 Role and Responsibilities at UBS
01:44 Journey to Real Estate Research
04:24 Lessons from Past Real Estate Cycles
06:22 Current Real Estate Market Analysis
19:18 Impact of Institutional Capital
24:25 Opportunities in Secondary and Tertiary Markets
30:01 Advice for Aspiring Analysts
31:58 Conclusion