Why did REZ drop in 2008?

I'd like to invest in an ETF that collects residential rents.

REZ seems to qualify, but I don't understand why it dropped like a rock in the crash of 2008.

If I owned rental property then, even if I had a mortgage, I would have been relatively unaffected. No? If anything, all the people who lost their homes would be flooding the rental market.

So, what was(is) REZ doing that made it so vulnerable?

Submitted June 05, 2014 at 01:38PM by hsfrey http://ift.tt/1nSVMc7