Added shares of Proshares UltraShort Real Estate ETF(SRS) right at market close. This real estate exchange traded fund tracks twice the inverse price of the Dow Jones U.S. Real Estate Index fund. This ETF has declined from $260 a share just three weeks ago to $77. At below $80 it was too tempting not to buy. I think real estate is bottoming but I expect it will decline in the near term.
Make Money Investing The Warren Buffett Way
It would be interesting if they could make regional real estate etf’s. Since real estate values and price changes are different all around the country. I for one think that the declines in real estate in the worst hit areas are almost done. I could see California, Arizona, Vegas and Miami going down a little further from here… but not much. The northeast however has held up relatively well thus far in the down turn. I’ve thought for a while that it’s just behind the rest of the country when it comes to price declines. Now with thousands of high paying financial jobs going away I’d expect values to decline more rapidly. It would be cool if you could say, short the northeast and then hedge yourself by going long the south west.
@generationyinvestor
That’s a good idea. A real estate ETF divided into specific regions.