Originally Posted by Yarnstormer
Any thoughts? My financial advisor just called me recommending that I think about selling. I've had it for years...don't know if I need to react right now.
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Equity Residential stock is way down already. As it happens I am listening to their CC right now. It is an excellent, well managed REIT. There has been a real slow down in their leasing in both San Francisco and Manhattan, and this likely explains much of the trouble. Real estate is cyclical. In San Francisco the high tech job growth that stocks these nice apartments has leveled off at best. Also, much new supply has come online.
I would say that your expert is a bit late, and maybe not timely in any way.
If this is along time holding, listen to management presentations, pay attention to property cycles, and for me at least, especially if this is in a taxable account, I would do nothing.