Wow, your involved with people that are in the top ten worse real estate states. Be very careful, if you were in my state you'd probably be buying every home builder right now. You can't base all of your opinions on a few states, especially since 70% of the real estate problems are in 10 states (California, Florida, Nevada, Arizona, Michigan, Ohio, Colorado, etc).
I see, you sound like an experienced investor. Many members of my family/friends are/were involved in Real Estate, Broker, Developer, sales mostly in CA, but also in OH, FL and NV. I feel I have a better insight to what is going on than most people.
Holy *(#&$(*^#%#(#!! while I was typing this SRS just dropped to 109. I just bought another 1000 shares. Sweet!
I favor the long side of equity REITs, but for very long term.
I like to find any kind of hard asset that has a high yield.
I'm not a trader. The approach I like is closer to dollar cost averaging. However, I wouldn't automaticly re-invest dividends. This leaves the dividends free to be invested in what ever portion of the market is more attractive at the time. So for example as REITs got more expensive in past years, the dividends would be re-directed to things like oil and gas royalty trusts. Now that those are expensive and REITs are cheap again, the dividends would all be re-directed to REITs.
This means I don't ever have to pick a top or bottom. I just have to figure out what part of the market (of high yeilding hard assets) is most attractive at any given time.
Mostly I follow SRS to see what reasons people have for selling REITs. I find it more interesting to post here. It's not very interesting to post on REIT boards where everyone is just going to agree.
Standard & Poor's said the bulk of write-downs on subprime securities may be behind banks that have already announced their full year 2007 results. S&P said "the magnitude of some write-downs is greater than any reasonable estimate of losses." The firm noted Citigroup (C 20.61, -0.60) and Merrill Lynch (MER 45.24, +0.32) have taken conservative valuations.
Wow what a crock! I'm sure that they over estimated the write off's to date, but the iceberg is still coming.