CHAPTER 2
REITs versus Competitive Investments
“The question is not do you take money out of stocks and put it into real estate, or the reverse. There's so much money out there looking for a home. I don't think it's either/or.”
—Sam Zell
Before you decide if REITs are an appropriate investment for you, it might be helpful to compare their merits with those of other investments. This exercise becomes more meaningful, of course, if the comparison is made with investments that are truly similar.
But this is not as easy as it may seem. Most investors acknowledge that commercial real estate is a unique “asset class,” and some believe that REITs—being a hybrid of both equity and real estate—comprise yet another asset class. But compare we shall, and ...
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