The iShares U.S. Real Estate (NYSE: IYR) security moved sharply higher to start the day Wednesday, on several housing data point catalysts. However, by the end of the day, it was underwater. Still, after my review of the day's data, and my expectations for what's ahead, I believe real estate makes a solid investment. Whether it is commercial, industrial or residential property, or if you cannot afford physical property, than the iShares U.S. Real Estate ETF should also serve you well.
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Day Chart of IWM at Yahoo
The first data point to find the wire was the Weekly Applications Survey from the Mortgage Bankers Association (MBA). It sent the IYR ETF higher early because the report showed mortgage application activity was sharply higher. The MBA showed its Market Composite Index up 7.9% week-to-week in the period ended September 12. Purchase activity, or mortgage applications tied to the