Filed under: Housing
Sam Zell is one of the best real estate investors around and therefore one of the few people whose prognostications for the housing market are actually worth listening to.
And that’s good news because, talking on CNBC’s Squawk Box this morning, Zell had this to say about the housing market: “I think starts have already pretty much bottomed out,” Zell said. “I think the housing market this spring will begin its recovery phase.”
If the recovery will indeed begin that swiftly — and the bottom has already been reached — than beaten-down REITs have to be considered for investment.
If you’re willing to invest based on the idea that Zell is apt to be right but aren’t comfortable picking REITs on your own, Vanguard’s REIT ETF (AMEX: VNQ) might be worth a look. After a big drop in 2007, the ETF yields around 5%.
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