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Article: Cracks in the Foundation.(Investing)
- Article from:
- Kiplinger's Personal Finance Magazine
- Article date:
- September 1, 2003
CopyrightCOPYRIGHT 2003 The Kiplinger Washington Editors, Inc. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Byline:Jeffrey R. Kosnett
Investing kiplinger's | september 2003
The great reit rally that started in the spring of 2000 has peaked. The sector is not going to burn like technology stocks did, and the losses won't be as ugly as those that face holders of long-term Treasury bonds should interest rates soar. But it's wise to rethink the idea that real estate investment trusts are the nearest thing to high-yield certificates of deposit. "It's time to be cautious," says Martin Whitman, who runs the Third Avenue mutual funds and is a longtime real estate guru.
Aren't REITs enjoying another swell year? Absolutely. In fact, year-to-date to July 14, ...