Ross Nussbaum, managing director and senior REIT analyst for UBS Equities Research, said in an interview at REITWorld 2009 the key issue facing REITs in 2010 is jobs. "Now that REIT balance sheets are in better shape, they need to start growing earnings. And the No. 1 demand driver for commercial real estate tends to be employment," he said. He added that without meaningful job growth in the next year, occupancy and rental rates likely will head lower.

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