Joel Ticknor of Ticknor Financial Inc. in Reston, Va., devotes anywhere from 4% to 10% of his clients' assets to real estate, depending on their risk tolerance. "The main point is that when you put these in a portfolio it is an allocation decision you stay with," he says.
Agreeing with that statement is Michael Dubis, president of Touchstone Financial in Madison, Wis. "We had a pretty good correction there, but it's totally irrelevant" in terms of the long-term picture, he says. "Timing the real estate market is crazy."