The Wall Street Journal reported that REITs think they are “largely unconcerned that the ongoing credit crisis and consumer-spending slowdown ,” will effect the value of their properties.  In my opinion, that was a very bold statement based on Fed Chairman Ben Bernanke’s description of the economy in testimony before Congress yesterday.

The REIT executives did admit that, “…there will be a lot of private developers who can’t get projects done who thought they could.”  Additionally they said,  “it is true that some of the retailers are pulling back…a lot of them are anxious about the holiday season and what’s going to happen.

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