U.S. is the ultimate safe haven for your money during Russia's war on Ukraine, Blackstone's Joe Zidle says (via CNBCFastMoney)
He acknowledges rising input prices tied to commodities to coordinated central bank hikes remain risks, too. But the strong labor market, said Zidle, is giving the U.S. a major advantage.
It's one of the top reasons why Zidle is a long-term bull on housing, a group that has gotten swept up in the selling. The"Personal income has gone up more than the increase in the mortgage rates," he noted. "It's important to consider... [the] strong labor markets and rising wages. And, historically housing ends up being more correlated to labor than it is to mortgage rates.
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