Regardless, a single stock isn’t the way to go if investors want to play this industry, Cramer said. They’re better off buying the iShares Dow Jones US Real Estate (IYR), which he called, “the most liquid play, and the best way to track the real estate investment trust group.” The IYR collectively mimics the most important names in the group, and that makes it the ideal proxy for commercial real estate.

Among the worst performers were Developers Diversified (DDR) and Kite Realty Group (KRG), along with Duke Realty (DRE) and AMB Properties (AMB) in the office REIT space, and Post Properties (PPS) in apartment REITs.

Among the worst performers were Developers Diversified (DDR) and Kite Realty Group (KRG), along with Duke Realty (DRE) and AMB Properties (AMB) in the office REIT space, and Post Properties (PPS) in apartment REITs.

Among the worst performers were Developers Diversified (DDR) and Kite Realty Group (KRG), along with Duke Realty (DRE) and AMB Properties (AMB) in the office REIT space, and Post Properties (PPS) in apartment REITs.

Among the worst performers were Developers Diversified (DDR) and Kite Realty Group (KRG), along with Duke Realty (DRE) and AMB Properties (AMB) in the office REIT space, and Post Properties (PPS) in apartment REITs.

Among the worst performers were Developers Diversified (DDR) and Kite Realty Group (KRG), along with Duke Realty (DRE) and AMB Properties (AMB) in the office REIT space, and Post Properties (PPS) in apartment REITs.