Stephen Pincus quoted in "Genesis of the Retail REITs", The Fund Q2 2004
|Area||REITs and Income Securities|
Excerpt from "Genesis of the Retail REITs", from The Fund Q2 2004:
Stephen Pincus quoted:
Pincus, whose team is working on producing The Canadian REIT Handbook, the definitive guide to real estate investment trusts in Canada, says in general that the retail sector has been very robust and very stable, driven by consumer spending.
"The retail REITs performed better last year compared to the whole REIT index because of this stability and resilient consumer spending market. For example, third quarter spending on durable goods grew 17 per cent, and overall consumer spending grew 5.1 per cent. This is really an incredible growth rate and forecasters are predicting robust consumer spending over the net two years. This all augers well for this area of the market."