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Real Estate Funds Much Better Than '07 |
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Daily Real Estate News
June 16, 2008
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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