It’s not just on Main Street where real estate is hot. Fund tracker Morningstar reports that the best returns of the 2nd quarter came from funds specializing in real estate, most of them investing in REITs. Some 47 out of the top 50 best performing funds in the quarter were real estate-related, jumping 13.1% in the quarter alone.
Homebuilders were the most popular investments among the top performing mutual funds, according to a recent Investor’s Business Daily survey. The survey, which included only new buys or expanded stock positions of the top 15% of stock funds, as ranked by 12-month performance, found that these funds invested more than $373 million in ten large builders’ stocks in the first quarter of this year. Thanks to Suzanne Kennedy of Fleishman-Hillard for the info.
BusinessWeek editors Chris Palmeri, Prashant Gopal and Peter Coy chronicle the highs and lows of the housing and mortgage markets on their Hot Property blog. In print and online, the Hot Property team first wrote about the potential downside of lenders pushing riskier, "option ARM" mortgages and the rise in mortgage fraud back in 2005—well ahead of many other media outlets. In 2008, Hot Property bloggers finished #1 in a ranking of the world's top 100 "most powerful property people" by the British real estate website Global edge. Hot Property was named among the 25 most influential real estate blogs of 2007 by Inman News.