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Which market?

I agree a lot of hot metros are looking expensive (SF, Seattle).

Things are cheaper in places farther from growth and money, e.g. rural Indiana. I'm not sure whether they're better deals on balance, but quite different.

Just what those people living in those places need. More investors making money off their condition. The rent is already too damn high.

REIT investors aren't the cause of high rents. Actually the opposite. Every dollar they put in lowers the cost of capital for property developers and encourages the construction of new housing units.

Watch how high it gets when investors pull out of the market.

> Which market?

Every market. Literally every market.

Real estate value (as represented by REITs) has been going up despite increases in the Fed Funds rate. This implies a discount-to-book value. I think we still have a bit to go.

there's no reason not to have it as part of your portfolio

probably a small part, to be fair, especially if you own your own home

If you own a total market index fund, REITs are already a small part of your portfolio.