Am I the only person who sees that a REIT with only mortgages backing it is a wolf in sheeps clothing? At least if commercial buildings were backing these financial instruments, there could be jumps in asset values… ┬áBut a mortgage-backed REIT? Check for yourself… ┬áMany are paying 11% dividends from yields of 3-6% mortgages. I believe that the funds investing in these REIT’s will be selling them off soon as “safe” investments. Ya know, just before these things all tank in market cap.

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