REITs had an up-and-down month. But when we went to press, most were in the black.
Checking In On The Pipeline
Developers remain on track to deliver more space this year than they did last year in spite of the economic troubles and slowdown in the retail sector. Moreover, construction starts during the first two quarters amounted to more than 71 million square feet. That’s a 23-million-square-foot drop from last year, but not as dramatic a pullback as it may have appeared.
The credit crunch means that in 2008 most buyers get financing by assuming debt from sellers rather than procuring new loans.