I think your right, I sold alot of my SRPIX and bought SRS in the last few days. It trades at very low volume which concerns me a bit. once it starts to climb 10, 20 30% then it will be talked about in various articles and the volume will definately increase. Its almost like getting a free margin loan. I sold 75K worth of SRPIX and bought 1000 shares this week so essentially am getting a "75K loan" at 0% interest. Of course that means twice the risk, but since this is shorting a Real Estate Index I am not the least bit worried. I have been following the Real Estate market in Southern California since I was a child. It did almost exactly the same thing in 1990. Prices went way too high too fast and then they went down for over 4 years. A decrease in Real Estate takes time. This current run up in prices was even worse than in 1990 (because interest rates were so low for so long). Now that the lenders are tightening, the inventories are growing and there are going to be alot of forclosures due to Subprime and Alt-A loans, there is not a senario that I can think of where Real Estate does not drop substaintially (in Las Vegas, All of California, All of Arizona and all of Florida and that is just to name a few). It will drop moderately in regions where the appreciation was not out of control (like the midwest) Look at the charts of the stocks that make up the Dow Jones Real Estate Index. Most of them are up 200, 300% or more(SPG is up 400%, PSA is up 500%, GGP is up 600%, BXP up 400%) in the past 7 years(right before the Nasdaq crash). SPG alone makes up over 6% of the total here is a chart. index.http://www.marketwatch.com/tools/quotes/...