The IYR, a collection of different commercial real estate stocks, keeps thrusting upward. I asked a real estate agent tonight what she thought of NYC commercial property and she said it basically sucked. I do trade derivatives of the IYR in and out for choice swing trades, however, I dont know the first thing about commercial real estate. I do see business picking up around where I am located. Restaurants and other businesses seem to be full. The IYR is nearing 2007 levels...so I wonder, what is the real story about commercial real estate? Is the IYR and the other real estate stocks simply trading vehicles and do not reflect the real fundamentals? Are the fundamentals really this bullish?