IAmNeil

Why limit yourself to real estate and stocks?

Corporate debts also present some attractive risk/reward opportunities.

I don't know how anyone can look at the housing inventory numbers, and the massive decline in activity coincident with the expiration of government subsidies, and think US real estate doesn't have another leg down. Do you know what would happen to housing if/when Fannie and Freddie stop buying mortgages? I work for a bank and there is no way I am lending @ 4.75% for 30 years on an asset that will plummet if the government stops financing its purchase. If I can flip the loan to the gov and collect a 4 figure "origination fee" of course I write the loan, but if I have to hold that on my books I need a higher ROIC.