Analysts: Job cuts will hit apartment REITs in 2009

12/23/2008 | InvestmentNews (free registration)

Apartment REITs have done better than most other real estate sectors this year, but that could change in 2009, according to analysts. The expected downturn would be tied to unemployment and weakened demand that would push down rents. "Job growth is the most important driver for apartment demand," said Andrew McCulloch, an analyst with Green Street Advisors.

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