 | Daily Real Estate News | July 7, 2008 |
3 Areas of Housing Expected to Boom
David Lee, who has managed the $2.5 billion T. Rowe Price Real Estate Fund (TRREX) since it opened in October 1997, says the following areas of the housing market are either doing well now or soon will be.
- Mall companies. “There's good scarcity value in regional malls and not a lot of construction going on in the mall business," he notes. "Short of going bankrupt, we're not convinced that all these retailers can close their way to profitability. They're going to continue to pay rents to have stores in the highly profitable malls.”
- Residential apartment communities. “If you can’t buy a home, you have to rent.”
- Industrial REITs (or real estate investment trusts). Warehouses are pretty economically sensitive right now, Lee says.
Source: Business Week (07/02/08)
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