REITS - what's the outlook ?

PURAX really pulled back here after hitting new highs. Profit taking ?
With the BOE announcement today, that should help it....no ?
 
Well REITs were getting clobbered ahead of the BOJ/FED announcements, but they zoomed yesterday afternoon.
However, with an impending Dec rate rise, that could hold them back.
Anyone have an opinion on future direction ?
 
vanzandt said:
I think residential REITS are good for the long haul.
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Dunno Zandty...
They have been moving in tandem to the TLT recently.....and they are far off their June highs.
I think there's better opportunities out there.....
 
I bailed out of my PURAX 2 weeks ago. REITs have been in a steady decline since early August. See VGSIX for a proxy on the REIT market.
 
syswizard said:
Sorry to say, but Zandty was definitely wrong on this call....see earlier posts.
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Wiz... I still think for the long haul, residential REITS are a good buy. When I say "long haul" here, I am talking several years out. I see multi-family housing being a growing trend with millennials. Home ownership is not what they want. They're too lazy, as a whole. Home ownership is a pain in the ass. I work with a lot of millennials and none of them dream the "American Dream". Posh apartment complexes are where its at, at least for them. Again, this is a long term view.
 
Zandty - you are losing cred....the top was in 4 months ago...I got out a little late, but not as late as those who would be bailing out now.
Rates are now "sticky".
I wouldn't touch REITS.
 
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