Am I missing something? All I keep hearing and reading about is how the next shoe to drop will be commercial real estate. There will be an avalanche of problems etc... Yet REITS are making 52 week highs??? What gives???
I thought I was the only one in the dark about this. Most of their P/E ratios are ridiculous (60,70,120), commensurate with the P/E you'd expect from high growth companies with no competition and huge barriers to entry. Their earnings have declined, not grown, and please tell me where the future growth to validate these ratios is going to come from Is it all about the weak dollar and dividend yield? Most have 3-5% yields which I imagine right now is huge ROI. As long investors keep moving money into dividend stocks they will continue to be bid up.
The market has become a mere coincident indicator. Until the shit actually hits the fan, levitation continues.