When housing was strong, a seller's market, the talking heads said the demand was driving the economy. New home sales meant new appliance sales and so forth. Now with housing in the dumper, a buyer's market, I don't hear the talking heads saying this will dump the economy. But it should, if the former logic was correct. Further rate increases will cause an economic recession. I'm not sure Bernake wants that problem just yet. The 10yr could hold here, the near term trend seems to confirm it. Bond buyers are streaming in and that means yield could drop. We've seen this play out many times. It's a cycle. DDR drops more then most and goes up more then most reits. It will hit 60 again.
Sold on 6/28. I should have sold when it was arond mid 60's. I have been watching DDR and believe it's an excellent company with long term potential for gain�but I do believe that this sector will see more pain (due to extremely high valuations). I also sold Delaware REIT fund. I have amazed growth in the fund. I believe there is going to be some pain in the entire publicly-traded REIT sector. I purchased the new issue from Inland�Inland America REIT. Same story as before. Currently paying a 6.1% dividend. Can re-invest at 5% discount.