DoubleLine Paper: The Misunderstood Housing Market, a Rate Paradox and a Magic Number

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DoubleLine Capital (Ticker: DL) Portfolio Manager Ken Shinoda argues in a research paper that home prices could soften in the future if borrowing costs fall to borrower behavior-changing levels. The paper, titled 'The Misunderstood Housing Market, a Rate Paradox and a Magic Number,' challenges conventional thinking about the relationship between interest rates and home prices. Ken Shinoda, CFA, joined DoubleLine Capital in 2009 and is Chairman of the Structured Products Committee. He oversees non-Agency RMBS and specializes in investing in non-Agency MBS, residential whole loans, and other mortgage-related opportunities. Mr. Shinoda is co-Portfolio Manager on various strategies and leads the Mortgage Opportunities private funds. He also hosts DoubleLine's 'Channel 11 News,' providing market and macroeconomic insights.

TAMPA, Fla., Dec. 21, 2023 /PRNewswire/ -- Conventional thinking holds that higher interest rates mean lower home prices – or the corollary, lower rates mean higher prices. However, given supply and demand conditions in housing today, DoubleLine Portfolio Manager Ken Shinoda argues in a research paper that home "prices could soften in the future if borrowing costs fall to borrower behavior-changing levels."

To read the paper, titled "The Misunderstood Housing Market, a Rate Paradox and a Magic Number," please click on the following link: https://doubleline.com/wp-content/uploads/Misunderstood-Housing-Market__12-20-2023.pdf

Ken Shinoda, CFA, joined DoubleLine Capital at the firm's inception in 2009. He is Chairman of DoubleLine's Structured Products Committee and oversees the non-Agency residential mortgage-backed securities (RMBS) team, specializing in investing in non-Agency MBS, residential whole loans and other mortgage-related opportunities. Mr. Shinoda is co-Portfolio Manager on DoubleLine's Total Return, Opportunistic Income, Income, Opportunistic MBS and Strategic MBS strategies. He is also lead Portfolio Manager overseeing the Mortgage Opportunities private funds. He is a permanent member of the Fixed Income Asset Allocation Committee and participates on the Global Asset Allocation Committee.

Mr. Shinoda also hosts DoubleLine's "Channel 11 News" (X @DLineChannel11, dline11@doubleline.com), a webcast series that provides market and macroeconomic insights.

About DoubleLine

DoubleLine Capital LP is an investment adviser registered under the Investment Advisers Act of 1940. DoubleLine's offices can be reached by telephone at (813) 791-7333 or by email at info@doubleline.com. Media can reach DoubleLine by email at media@doubleline.com. DoubleLine® is a registered trademark of DoubleLine Capital LP.

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SOURCE DoubleLine

FAQ

What is the title of the research paper by Ken Shinoda?

The title of the research paper is 'The Misunderstood Housing Market, a Rate Paradox and a Magic Number.'

What does Ken Shinoda argue in the research paper?

Ken Shinoda argues that home prices could soften in the future if borrowing costs fall to borrower behavior-changing levels.

When did Ken Shinoda join DoubleLine Capital?

Ken Shinoda joined DoubleLine Capital in 2009.

What is Ken Shinoda's role at DoubleLine Capital?

Ken Shinoda is Chairman of DoubleLine's Structured Products Committee and oversees non-Agency RMBS. He also leads the Mortgage Opportunities private funds and hosts DoubleLine's 'Channel 11 News.'

What does DoubleLine's 'Channel 11 News' provide?

DoubleLine's 'Channel 11 News' provides market and macroeconomic insights.