SHORT-CHANGED

Short sellers are increasingly betting against regional mall REIT stocks.

Breaking Up

Not surprisingly, more retail investment deals are falling through.

ONWARD AND UPWARD

Many retail REITs posted gains in share prices of 3 percent or greater compared with July.

LOST STIMULUS

As the effects of the goverment’s stimulus package wore off, retail sales lost steam in July. Total sales fell by 0.1 percent, and core sales excluding autos and gasoline rose by 0.3 percent, the weakest performance since February. Layoffs, sliding home prices, high consumer debt burdens, difficult credit markets and stubbornly high gas prices are taking their toll. As a result, Grubb & Ellis projects leasing market conditions to bottom out in mid-2009.