Abstract
Residential real estate in vestment trusts (REITs) make a significant contribution to the overall REIT market, accounting for 13.5% of the equity REIT market capitalization at December 2007. The current housing crisis in the United States has seen an increased focus on residential REITs. This paper assesses the significance of residential REITs in a REIT portfolio over Q1:1994-Q4:2007. In particular, their risk-adjusted performance and portfolio diversification benefits are compared with the other REIT sub-sectors and to stocks, bonds, and real estate. The ongoing effect of the current US. housing downturn on the future outlook for residential REITs is also assessed.
| Original language | English |
|---|---|
| Pages (from-to) | 129-139 |
| Number of pages | 11 |
| Journal | Journal of Real Estate Portfolio Management |
| Volume | 15 |
| Issue number | 2 |
| Publication status | Published - 2009 |
Keywords
- United States
- bonds
- housing
- portfolio diversification
- portfolio management
- real estate investment trusts
- residential real estate
- stocks