Real Estate Funds have been struggling the last year or so, but finally we see and upturn in 2008. The rolling average has been negative, but 2008 has shown some pretty strong numbers for the first part of the year. With some points hitting as high as 9% most feel that this is a strong point for the industry.
Daily Real Estate News June 16, 2008
Real Estate Funds Much Better Than '07
The stocks of companies that own and manage self-storage buildings, apartment complexes, shopping centers, and office buildings are on the rise after a miserable 2007.The average real-estate fund is up 9 percent in 2008, compared with the average U.S. diversified stock fund, which are on average down 2 percent, according to Lipper Inc.Real-estate funds are down 8 percent for the 12-month period because of last year’s real estate market malaise. But the three-year annualized return is 9 percent and the five-year annualized return is 16 percent."There has been quite an inflow of money into real-estate funds this year because people believe the market has already priced in many of the negatives about the economy and real estate," says Barry Vinocur, editor of Realty Stock Review.Source: Tribune Media Service, Andrew Leckey (06/15/2008)
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