Investing: Getting Real

Worried about rising interest rates? Here are some smart property plays

With interest rates rising, some investors are suddenly avoiding real estate like a termite-infested house. Last month the average real estate investment trust (REIT) fell 15%. Yet if the past few years have taught us anything, it's that a slug of real estate lends tremendous stability to an investment portfolio. So don't fall victim to the rate jitters. REITs can thrive so long as any interest-rate climb is slow and takes place over an extended period, says Christopher Haley, a REIT analyst at Wachovia Securities. And that's just the scenario many economists anticipate, as the rebounding economy finally generates jobs and...

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