But, there has already been a big run-up in REITs, particularly apartment REITS.
An example is REZ (a REIT ETF).
This bottomed in 1Q 2009 and has nearly tripled since then. I happened to have purchased somewhat later (Nov 09) and it has run up almost 60% since that point.
I think the easy money has already been made in apartment REITS for this cycle. Don’t know about commercial REITS, but they’ve had a signifcant run since the bottom as well.
