RISMEDIA, Oct. 7, 2008-Consumers with domestic real estate funds in their retirement accounts or investment portfolio will be pleased to learn that their funds have fared the best despite the economic crisis, fund analysts reported on Thursday. According to Chicago-based investment research firm Morningstar Inc., domestic real estate funds are outperforming financial, technology, telecommunication and foreign funds.
“I wouldn’t say any of the stock categories came out unscathed, except for probably real estate,” Morningstar’s John Coumarianos, a mutual fund analyst, told NPR on Friday. Domestic real estate funds declined by only four percent in the third quarter, analysts reported.
“In this time of economic uncertainty, we’re glad people have continued to recognize that real estate is a sound investment, either through the equity of homeownership or investing in domestic real estate funds,” said Chicago Association of REALTORS® President David Hanna. “Members of the financial media have attempted to scare consumers away from real estate for more than a year, and fortunately, many investors have had the good sense to research and make their own decisions.”
Through their newly-launched “REALTORS® R.E.A.C.T.” (Reaching out, Educating and Advocating for Chicago’s Taxpayers) initiative, the 15,000-member Chicago Association of REALTORS® has stepped up efforts to assist all consumers in navigating the waters of the current market, offering tips on strengthening credit, supporting initiatives to protect renters in foreclosed-upon buildings, and advocating on behalf of taxpayers in property tax disputes.For more information, visit www.ChicagoREALTOR.com, or contact Brett Ashley McKenzie at 312-214-5539.