Friday, November 17, 2006

State Teachers Retirement Furor Over Fees To Hire Real Estate Experts Dies Down On Word Of Performance Returns

Word this week is that the furor a month ago the State Teachers Retirement system in Ohio paying an outside agency significant fees to recruit real estate agents for the organization is dying down. Critics charged that State Teachers Retirement should not be paying huge sums to find new hires. STR officials fired back recently that real estate investment is so lucrative, and far outperforms all other system investment vehicles, that the recruiting fees will be a drop in the bucket compared to the returns STR and its members will receive through professionally mananaged real estate portfolios.

This is another validation of real estate as a key investment strategy to building wealth. STR stated real estate doesn't just do better than stocks, mutual funds or other investment vehicles; the agency stated that real estate is far outperforming every other investment type in use.

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