NEW YORK, As the S&P 500 approaches fresh highs, some investors hope to pick up bargains in the battered U.S. real estate sector, where values of some major stocks have been cut in half this year, Reuters reported
Coronavirus-fueled lockdowns and a major shift toward working from home have weighed on residential and retail U.S. real estate investment trusts.
The sector has slid 7% this year compared to a 3% gain on the S&P 500.
Yet investors say stocks in the sector could jump if a coronavirus vaccine loosens the pandemic’s hold on the U.S. economy.
Source: Saudi Press Agency