The question is will it retreat into the sub $500 level like it did a week ago. Nonetheless I'm seeing stronger support even at the $800 level.
EDIT: To clarify my comment - I meant the housing market as in the ability to buy a home outright.
But the reason people don't see the value in these is because you want to gamble low and win high.
These managed funds more accurately show the real market, not the in your head looking at the few people who bought really low and sold really high while ignoring people who have lost money.
(Yes housing is a little different since in many places there are tax advantages on property you'll only get if your name is on the dead.)