Summary
Real estate investment trusts have had an extraordinary run. REITs, which invest in office buildings, shopping malls and other properties, produced positive returns in 2000, 2001 and 2002 as the overall stock market fell. In 2003, property-owning REITs soared 37 percent. And in the first eight months of 2004, REITs surged 14 percent, while Standard & Poor's 500-stock index barely budged. Is this a bubble ready to burst?
Fear not. REITs will inevitably cool down. The returns of the past five years -- 17 percent annualized -- are unsustainable. But prices won't collapse.See the full content of this document
Extract
Retirement: Investing in Reits
"If you're worried that you're paying ridiculous prices for REITs today, don't be," says Ral...
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