Student housing REIT American Campus Communities was one of the few REITs in the U.S. to show positive growth in 2009, said Bill Bayless, the company's president and CEO. A big part of that growth can be credited to the unique resilience of the campus housing market. "Our sector really isn't impacted by the macroeconomics that the other sectors of real estate are," he said. "We're much more supply-demand driven in the local market. It is a much more resilient market than the broader market."