11/02/2026
Last Friday, tech was down as much as 50% from its highs and intel fell ~30% in a day on earnings. Investors are on pins and needles.
Here's what we're seeing at Crystal View Capital:
About 80% of the capital that came to us in the past month came from family offices. Many are pulling out of public equities and into real estate, and manufactured housing in particular.
Why? A flight to safety.
Earnings aren't materializing in high-risk names, and capital is rotating to treasuries, real estate, and defensive assets. MH has historically been among the most resilient asset classes in commercial real estate. Marcus & Millichap has noted it was largely unaffected from 2008 to 2012. Sector-wide, MH is seeing double-digit revenue growth and high-single-digit NOI growth. Multifamily is not. The housing shortage today is worse than it was in 2008–2012, which supports durable demand for affordable housing.
Q3 was the biggest quarter in CVC's history: nearly $70M in institutional-grade acquisitions. And our Founder, Matt Ricciardella, recently added another $1.75M of his own capital to Fund IV.
His advice to investors who can't stomach the volatility: carve off a piece of your portfolio and invest in predictable cash flow, so you can sleep at night.
Fund IV closes at the end of this year.
To learn more, email [email protected] or visit https://hubs.la/Q04D20SQ0.
Watch the full update here: https://hubs.la/Q04D20Rf0