The news is all about how the the real estate buble can burst. The market is not responding to the news of bubble. One of my co-worker bought a house in in GTA for over a million.
I am really happy with my small condo in Toronto.
Did I ever tell you I am not very great in household chores, especially cleaning?
So,I prefer to live in small space and happy with spending time on reading or web surfing. But should that prevent a person like me from investing in real estate? Don't we have any hope?
Yes, i found that hope. We can invest in REITs. That is a short term for real estate investment trust.
The Motly Fool website mentioned about Riocan. Then I got interested in it. Riocan is trading in TSX with ticker symbol rei.un
My research found that it is the largest real estate investment trust in Canada. They own properties in Canada and the United States.
They were selling some of the US assets last month, I believe.
The attractive part is the dividend yield:5.56%.
So,I decided to have Riocan in my RRSP. Since the purchase is still very fresh, I will give updates about it when I get the dividend.