NEW YORK ( TheStreet) -- Last week's announcement by the Federal Reserve was significant news for real estate investment trust investors. Not because short-term interest rates will be held low for years, nor because of QE3 -- "quantitative easing," round 3.The announced QE3 news merely commits $40 billion a month of new stimulus funds -- a significant wad of cash. Slightly unexpected was the announced use of that money: to buy Fannie Mae and Freddie Mac bonds in an effort to keep mortgage rates low and pump up the housing market. The idea here: to eliminate housing debt so that Americans will be able to pick up their spending and revive the economy.
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