Job losses take toll on REITs

01/13/2009 | GlobeSt.com

Job losses translate into "a rapid decline in fundamentals" for REITs and other property companies. National unemployment reached 7.2% in December, worrying REIT executives. "I have suspected it will wind up being higher than that and these numbers certainly don't do anything to change my mind," said Bob Bach, senior vice president for research for Grubb & Ellis.

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