Real estate is nearing a bottom and eventually could be a better bet for investors than stocks or bonds, Pimco's Bill Gross told CNBC. Both commercial and residential real estate are reaching a bottoming point and possibly even prepared to turn higher, said Gross, CIO of Pacific Investment Management Co., or PIMCO, the world's largest bond fund.
With stocks likely to return 5 to 6 percent and bonds 3 to 4 percent, he said, investors would be wise to start looking at real estate opportunities.
Related ETF`s: iShares Dow Jones US Real Estate (ETF) (Public, NYSE:IYR) and iShares Cohen & Steers Realty Maj. (ETF) (Public, NYSE:ICF)
Related Stocks: Simon Property Group, Inc (Public, NYSE:SPG), General Growth Properties, Inc (Public, NYSE:GGP), Vornado Realty Trust (Public, NYSE:VNO) and Boston Properties, Inc. (Public, NYSE:BXP)