Short sellers are increasingly betting againstmall REIT stocks.
Not surprisingly, more retail investmentare falling through.
ONWARD AND UPWARD
Many retailposted gains in share prices of 3 percent or greater compared with July.
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 projectsmarket conditions to bottom out in mid-2009.