Review of Investing in REITs: Real Estate Investment Trusts: Third Edition (Hardcover)

I am the author of "Investing in REITs," and would like to contribute a few comments regarding the new 3rd edition released in January 2006, and how it differs from prior editions.The new edition improves upon and updates the prior editions in two principal ways:

First, it provides current information concerning the major events that have occurred and continue to evolve in the REIT industry.These include the REITs' bear market of 1998-1999, their subsequent amazing 6-year bull market, widespread acceptance of REITs as proxies for commercial real estate, and merger and acquisition activity.Further, all graphs and charts have been updated, and a new appendix on managing an all-REIT investment portfolio has been included.

Second, the new 3rd edition provides commentary on recent REIT industry trends that will affect all REIT investors, including the apparent "disconnect" between the 2001-2005 softness inthe commercial real estate "space" markets and booming commercial real estate capital markets, the much-discussed "bubble" in residential real estate, changes in REITs' business strategies as they seek to create value in a very competitive marketplace, and the increasing pace of asset sales and joint venture activity.

If you liked the prior editions, you will love this new 3rd edition; if you didn't, well, don't buy this one.If you haven't bought "Investing in REITs" yet, well, decide whether you should own some REIT investments and act accordingly.The case for REIT investing has been proven convincingly, and it is my firm belief that every investor should own REIT stocks (or a REIT mutual fund) as part of a diversified investment portfolio.And, as each of us is responsible for our own investment strategies and success, there is no substitute for understanding both risk and reward.

Footnote and disclosure: Abe Lincoln refused to vote for himself in the 1860 presidential election, but I cannot figure out how to avoid assigning stars to this review of my own book.Accordingly, I hope you will forgive me if I immodestly give it 5 stars.

Ralph Block



Click Here to see more reviews about: Investing in REITs: Real Estate Investment Trusts: Third Edition (Hardcover)