When Is It Un Real Estate?

The case for REITs is strong, but they may be becoming too popular

There's an ancient joke about a visitor to New York City being talked into an unwise real estate investment--the Brooklyn Bridge. Well, real estate investment trusts are so hot this year, their stocks up a whopping 17%, that chary investors have a right to wonder: Is the REIT boom only just beginning, or are investors being sold a latter-day version of you-know-what?

To continue reading this article you must be a Bloomberg Professional Service Subscriber.